Recently, there is a data point worth noting: over the past 3 months, many tokens that were repurchased have not performed well. Looking at some well-known tokens, AAVE has fallen more than 40%, HYPER and KAITO have dropped by over 45% and 58% respectively, while RAY and PUMP have both declined by over 60%. This phenomenon is quite interesting — although project teams are conducting buybacks, the market does not seem to respond accordingly. From these data, purely buyback operations may not effectively support the token price. Market trends are still determined by a combination of more complex factors, including the overall environment, liquidity, trading activity, and more. When evaluating projects, investors should consider buybacks as a reference indicator, but it should never be seen as a price guarantee.