Trying to ACTUALLY understand what is happening with memory stocks; not asking for predictions

I'm not looking for predictions, I don't have any interest in buying in at a certain point or timing the bottom or anything like that. I got lucky selling what I had in sandisk near the top and I’m young so I put the near $90k I made off of it into XEQT and VOO because I want a stable life lol.

But this was the most volatile stock I've ever gotten myself involved in, and all of the emotions I felt during it got me very curious.

I thought I knew about investing and markets enough, until I got involved with memory stocks. Now I feel like I don’t understand anything.

Now that I'm safely out of it and know my desire for answers isn't driven by some confirmation bias, I want to figure a few things out.

**My questions:**

\- What's actually driving the decline? Is it pricing data, inventory, demand forecasts, sector rotation, something else? I know it has something to do with Korea but I'm not sure what's actually happening.

\- What would realistically have to happen for the sector to recover?

\- What would realistically have to happen (or not happen) for the slide to continue? And how low can this stuff really go?

I know that memory is famously cyclical, but I've never seen what cycles actually look like. is a further 70-80% drawdown from here within the historical range for a down cycle, or would that require something unprecedented?

I know my last three questions fall into the “anything is possible” category, so I’m not asking anyone to have a crystal ball here. There’s gotta be some sort of reasonable assumptions to be made here based off of history and logic, so I just want to understand from people who have much more knowledge on markets than I do. Thanks!!