Why yesterday's meme coins crashed and burned

The crypto market can be a brutal one. Once-hot meme coins that dominated headlines just months ago have seen their prices decimated, leaving holders nursing painful losses as the cycles move on.

Part of the problem with projects like BRETT, a Base token that aimed to bring the metaverse to the masses, was that they didn’t attempt to build anything useful—which wouldn’t matter if they got out at the right time obviously—but without any real utility or contribution to the ecosystem, BRETT had nothing to sustain its value once the initial novelty wore off.

Above: Brett’s spectacular price collapse. Source: CoinMarketCap.

Bork, a Solana-based dog meme coin that reached highs of $0.002124 in March, now trades at