I'm now thinking pellet gun damage. I bought some pellets and compared the size of them with the damage, and it was a perfect match. Not only that, but with the back of the pellets being flat, round and hollow, it explains the rings of damage. Someone told me that pellets can tumble, thus striking the object with the backside. Someone else said that if someone loaded a pellet gun in a hurry, they may have loaded some pellets backwards, which would also explain the pellet striking the fender backwards.
If only I could locate the fucktard that did this to my bike! I'd pump a few pellets into his ass, or maybe better yet, plaster his favorite vehicle with pellets and see how HE likes it!
Checked with a very reputable vehicle body/paint repair shop, and was told that the only way to properly repair it would be to repaint the entire fender, to the tune of about $1000!!! However, they also said that my insurance would probably cover it as an act of vandilism, and that the deductible could end up being half of what it usually is. Will be contacting my insurance agent to get the details.