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Fogo's recent move raised some eyebrows in the community. They unveiled a presale targeting a $1B FDV—quite ambitious when you consider where Echo was trading at $100-200M valuations. Then they pulled the plug. Just like that. Gone.
Hard to ignore the signal here: a $1B entry point could easily turn into a recovery nightmare. The abrupt cancellation speaks volumes about market realities. Sometimes ambitious valuations collide head-on with actual demand, and projects have to recalibrate fast. Worth keeping tabs on how this unfolds.