Anatomy of pure delusion

I was looking through my feed and found this little gem from the Safemoon community:

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https://preview.redd.it/tunjeghoo5x81.jpg?530&format=pjpg&auto=webp&s=babc750eb64293704631fcb663610fa6603bb770

Safemoon is pumping...apparently?

I checked the price, it was still at the bottom of the barrel.

I knew it had to be people getting excited over a small bounce. And probably also people not understanding how percentages work. You need a lot more percentages on the way up than on the way down.

In fact, you would need Safemoon to go up about 120% just to retrace this month's 54% loss.

It was just people getting excited about a little 15% bounce from a trough.

Here's what it looks like:

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https://preview.redd.it/l2num97lp5x81.jpg?979&format=pjpg&auto=webp&s=26a53a28d91454d6033a60daa8a63d4608bd3f84

Safemoon is still down more than 90%, and down 53% for the month.

That 15% rise wasn't a pump to salvation. It was a drop in the ocean.

Worse, it's still getting significant lower lows and lower highs. Unable to break the downward trend.

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This is what it looks like when people get psychologically attached to a coin and a narrative, rather than an investment strategy.

When that narrative doesn't play out, they're left with either accepting the failure, or live in a fantasy world.