If you’ve been keeping an eye on the crypto scene, you might have noticed that the price action for Virtuals.io and other tokens in the Base ecosystem hasn’t been as exciting lately. A recent thread by Chyan (@Chyan) on X, posted on July 24, 2025, dives deep into why this might be happening. Let’s break it down in a way that’s easy to understand, especially if you’re new to meme tokens or blockchain trends.

What’s Behind the Disappointing Price Action?

Chyan’s analysis points to weak 7-day (7D) netflows across key narratives in the Base ecosystem, like DeFi, AI, gaming, memes, and decentralized exchanges (DEXs). Netflows, in simple terms, show the money moving into or out of a token over a period. When these flows are low, it often means less interest or investment, which can drag prices down.

According to the data shared (check out the Token Screener screenshot above), only three tokens broke the $100K netflow mark in the past week, and they’re all low-cap tokens—meaning they’re smaller projects with higher risk but also higher potential rewards. Beyond that, the drop-off is steep. Only 16 tokens managed netflows above +$20K. That’s a pretty thin spread, and it’s leaving bigger names like $AERO, OG meme tokens (including Chyan’s favorite #MIGGLES), and AI agents like $VIRTUAL, $MAMO, $BNKR, $AIXBT, and $BID out in the cold.

Why Are Flows So Weak?

The thread suggests that liquidity—basically the cash available to trade these tokens—is chasing “scattered degen pumps.” In crypto slang, “degen” refers to high-risk, speculative bets by enthusiasts. Right now, that money isn’t flowing into the usual suspects or the Virtuals agent stack, which Chyan calls the “backbone” of Base. Instead, it’s jumping between smaller, less predictable projects.

This shift stings for holders of Virtuals.io and similar tokens. The $VIRTUAL token is designed to be the backbone of an ecosystem where AI agents are built and traded, as outlined in the Virtuals Protocol Whitepaper. But without strong netflows, that potential isn’t translating into price growth yet.

Is This the End? Not Quite!

Here’s the good news: Chyan isn’t calling this a bear market (a long downturn). Instead, we’re in a “range”—a period where prices are stable but not soaring. The Virtuals agent stack isn’t dead; it’s just waiting for the next wave of interest. For now, it’s a matter of hanging tight, staying engaged (or “yapping” as Chyan puts it), and keeping your “caps on” (a nod to holding your tokens).

If you’re into meme tokens or AI-driven projects, this could be a chance to watch and learn. The Base ecosystem, built on Ethereum’s layer-2 scaling, is still growing, with a total value locked (TVL) and transaction volume that show promise. Projects like BRETT and TOSHI, highlighted in recent Tangem Blog reports, prove that meme coins can still catch fire with the right community push.

What Can You Do?

• Stay Informed: Tools like Nansen, which Chyan plugs in the thread, can help you track smart money moves and spot trends. It’s a favorite among crypto investors for its real-time data.
• Hold or Fold: If you’re holding $VIRTUAL or #MIGGLES, decide if you believe in the long-term vision. The Virtuals model ties token value to AI agent performance, which could pay off when flows return.
• Watch the Data: Keep an eye on netflows and DEX activity. The Token Screener image shows tokens like $FBOMB and $OX with strong 7D changes—could they be the next pumps?

This dip might feel rough, but it’s not the fall of Virtuals.io or the Base ecosystem. As Chyan says, the agent stack will “run again when flows return.” So, whether you’re a “Virgen” (a fan of Virtuals) or just curious about meme tokens, now’s a great time to dig into the data and get ready for the next move. Got thoughts? Drop them in the comments below!