Given the responses and sentiment of long term holding it does seem as though there will be a large amount of profit taking at launch. Even if it’s not a hodlers full stack, there will be many with far less conviction but maybe once they see launch and development their thinking will shift a little.
People will sell. You’ll need some at least small amount of tokens to utilize the network, so the question is will people buy to speculate? To use? Or mostly just farm? And like you mentioned @Antifragile and I also touched on this more subtly, if the network is highly inflationary then almost all hodlers will have been doing so in vein.