Something odd happened. Actually, after Doge or Bonk it's not all that odd anymore and it's precisely that which should worry us all. Remember a while back when I shared one name of my BRC20 holdings? VMPX proved to have some utility and skyrocketed past most other BRC20s, which for the most part were just useless meme sats.
Back then it was due to VMPX that my total BRC holdings were at a small profit, as those other meme tokens dumped significantly. But despite their rather disastrous performance I was actually proud that sanity prevailed, this was the way it was supposed to be all along.
Fast forward to 2024 and the BRC20 token that made the smallest profit is VMPX. Yeah that's right, the other useless gimmick tokens have ALL gained ground and now ALL actually surpassed VMPX; the actual use case token.
In one case it's the power of CEX listing. Yes that's right, CEXes that are delisting privacy coins are listing useless and highly uncertain meme coins. Whohoooo, freedumb! Not sure what the reason is behind those other two making gains, but unless VMPX gets a similar privilege I don't see it regaining its BRC-crown in my portfolio. For now....
I borrowed the 'don't believe the hype' saying for the title because in the world of crypto memes it really is similar. You can buy the meme, but if you believe in it the way others believe in e.g. Bitcoin or actual use case cryptos, you might just end up watching all your gains magically disappear like boiling hot water in Siberia.
