I'd agree with this, except....

... that Hive got pumped well after it supposedly pumped Leo, and while Leo was pumping Cub.

You'd have to wonder why that is. I'd argue that it's because Hive is embedded in a larger ecosystem of games and apps, and there are many communities interacting with it.

I think the key is to:
(a) either tie your token in with a lot of communities and grow wide and sustained uptake, or
(b) keep a tight supply (like they're doing with POB and BRO, for instance).

LEO is certainly heading along track A, but for CUB it might take a whole before it connects with more communities.