Why you’re not bullish enough on BONER using on chain AMC as an example followed by the current HIMS pricing. Your headline market cap depends on which pool the indexer reads. A memecoin paired to AMC prices at the ratio times AMC. With AMC quoting $6.89 to $19.15 across four pools, the same memecoin can show a 178% different FDV depending on the aggregator. Zero trading required. Reported pool liquidity is inflated by the premium. A pool holding 1,000 AMC gets marked at $19,150 if the indexer uses the $19.15 pool. The realizable value is $2,590. Every dollar figure on that pool is fiction by the same multiple. The premium is a bigger position than the stock. Paired to AMC you’re not really long AMC. You’re long AMC’s on-chain premium, which is roughly seven times the size of the equity exposure. If that premium normalizes toward $2.59, the paired token loses about 87% in dollar terms and not one holder sold anything. Compare that to BONER on HIMS, where the premium is 0.85% and the float mints on demand. Same structure, completely different risk. The pairing is only as sound as the quote asset’s float and pool depth. HIMS on-chain is $29.7387 right now, a +3.12% premium to Friday’s $28.84 close. If HIMS opens at $28.84 and the premium goes to zero, the denominator falls 3.02%. BONER is $0.01309622 with the pool ratio unchanged, so it falls with it. Pure passthrough gives you $0.01269929, down 3.02%, FDV from $13.10M to 12.70M. With arb damping from the AI/BONER pools at roughly $370K against the $1.535M HIMS pool, BONER retains about 77% of the move. That gives you $0.01279, down 2.33%. So call it 2.3% to 3.0%. That’s the whole answer to your scenario. All that said to say I don’t expect any violent repricing unless people panic sell for no reason. If anything it could easily resume its ascent quite quickly shortly after open.