The $TROVE project raised $10M but trades below $1M—classic early warning sign. What's troubling here isn't just the valuation gap; it's how selective the deal distribution was. When token allocations favor insiders while retail gets sidelined, you're watching the blueprint for a project that won't hold value. The market's already pricing in the risk. Early rounds with massive valuations followed by weak liquidity usually end one way. This pattern shows why fundamental fairness in token economics matters more than hype.