small creators have the most power in $loud.
if all of them collectively dump and dont buy then the fee estimates for the top 25 will be off by magnitudes.
yes dumping still generates volume on the way down but that is a losing game.
on the other hand, if smaller creators will speculate on the token value based on the mindshare then you will have the layer of a traditional memecoin trading on top of it with some traders making bank and others losing.
and in that case the kols make money but dont cause the buy pressure the typically do when selling their own bags as all the fees are earned in SOL instead.
airdrop recipients will then also receive a higher airdrop which they are more likely to sell flowing back to the fee earners.
the fee earners could even do mini token buybacks (which I dont think will happen at a significant scale).
a lot of the experiment hinges on sustained buying interest or the willingness of speculators to speculate on a token that has no inherent value.
it all boils down to the question how much do we value attention without product?
