Many tokens launched in 2025 with very high valuations (FDV in the billions) but only a small amount of supply available at the start.

A few months later, things look very different. Both their valuations dropped sharply and their circulating supply increased.

Here’s what happened:

$TRUMP : FDV down 88% since launch | Supply increased from 20% to 49.75%.

($BERA ): FDV down 93% | Supply grew from 12.7% to 30.2%.

$PLUME: FDV down 93% | Supply rose from 20% to 51%.

$LINEA: FDV down 85% | Supply increased from 22.8% to 34%.

A few tokens held up better:

$ZORA : FDV is still above its launch level.

($ASTER): Valuation remains mostly stable, with limited new supply added.

In most cases, when more tokens entered circulation (higher supply), the valuation dropped heavily.

The key lesson:

Don’t look at price alone. Always check how fast the circulating supply is increasing along with valuation to understand the real picture.