I think that whenever a game becomes good and earnings become good, it will quickly be saturated by new players. Then there will be high sell pressures from the new supply going into the market.
So it's such a weird price mechanism. First price goes up cuz hype, then players join, price stays stable as hype increases but sells too. Then hype wears off and sells keep on increasing, now not just from players but also hodlers who lose interest.
But some big games like AXS somehow manage to keep their coin superhigh. I guess that's cuz the players dump SLP and not AXS, hmm.
So far, only Axie has been able to make me feel this way, in fact there are many other games that only make me more confused because what they offer is all the same and nothing special, only copying from the existing ones.
although indeed they are still going strong now but it's hype like you say and usually things like this don't last long