I took a look at the on-chain data for $POWER, and it's quite interesting—there are only about 1,100 addresses holding positions across the entire network?

The distribution of holdings is extremely concentrated. Generally speaking, a healthy token project should have at least several thousand or even tens of thousands of addresses participating. So what does this number indicate? Either the project has just launched and hasn't attracted much attention yet, or the tokens are highly centralized and controlled by a few.

Judging by the current price trend, I personally think there's a lot of bubble. With this kind of holding structure, the price is likely being maintained by a small number of whales, and the real market depth probably can't stand up to much pressure.

So my strategy is clear: short it. For assets with such weak fundamentals, once capital pulls out, the drop can be very quick. Of course, this is just for reference—make sure to manage your own risk.