Behind the BSC "local dog" frenzy: Who's quietly getting rich?

Recently, the BSC (Binance Smart Chain) ecosystem has been going crazy.

Shitcoin projects are popping up everywhere, with people sharing screenshots of sudden wealth in every group chat. Buying a coin randomly before bed, then waking up to find your account has gained zeros overnight — hearing stories like this so often, many people start to believe they can replicate the same success.

As a result, many have stopped focusing on fundamentals and stopped touching the secondary market. Everyone’s eyes are only on one thing: finding the next 100x coin in the primary market.

But have you ever thought about a question: who is actually losing when you make money?

The Logic Behind the Wealth Myth

This market has never been a playground where everyone benefits equally.

The profit screenshots you see are either from early whale manipulations or selectively showcased — only the wins are shown, losses are never mentioned. Why? Because institutions need these stories. They use “wealth creation myths” to attract more retail investors to buy in and take the losses.

While everyone is dreaming about “living the good life,” the smart money has already quietly pulled out.

They’re not competing for shitcoins anymore; instead, they’re shifting most of their funds back into the secondary market — investing in more liquid, more stable mainline assets like Bitcoin and Ethereum. Maybe they keep a little pocket money for some gambling fun.

By the time retail investors realize that the “golden dogs” on the chain have turned into “dead dogs,” and try to chase after mainstream coins, it’s usually already at the end of the market cycle. Those who got rich quick from shitcoins have long since swapped their chips for BTC and ETH.

Who Is Really Making Money?

The answer is simple: institutions, KOLs, and scientists.

Here’s how the game works —

Institutions team up with a bunch of KOLs to issue tokens. They chase trending figures for traffic, create coins around hot topics — sometimes hundreds of tokens are launched in a day by the same group. When a project rides a hot trend, KOLs swarm in: buying first, then posting tweets and calling for buys.

Scientists use tools to front-run and buy at the lowest prices, retail investors follow closely behind. But by the time you see a coin, it might have already surged 100x. Early investors take some profits, latecomers are just riding the whale’s coattails.

Don’t talk to me about “fair launches.” For ordinary people, launching a coin without KOL support and riding a hot trend is almost pointless — no one pays attention.

Of course, some retail investors do catch the wave and make some money. But the project teams aren’t worried about that — what they fear is you quitting. Retail investors often make a little profit only to lose it all in other projects. In the end, you realize: after playing with the institutions for so long, your money has mostly turned into Bitcoin and Ethereum in their wallets, while the shitcoins you hoarded have already gone to zero.

The Endgame of This Game

Honestly, this entire spectacle is orchestrated by a major exchange.

Think about it: if the crypto world continues down this path, what prospects are left? When Wall Street sees this future, they’ll probably be so furious they’ll want to vomit.

As a major exchange holding the most platform tokens, they first pump the market to create hype and make their ecosystem the center of attention; then they team up with KOLs to create wealth myths around shitcoins — stories of turning a few thousand into millions spread all over the internet; KOLs hype and call for buys to create the illusion that “everyone can get rich.”

Meanwhile, those with prepared capital are cashing out at the top — passing the baton smoothly to the last wave of investors.

So, retail investors? If you don’t have advanced tools or reliable insider info, it’s best not to get involved.

Wealth Is Never Built on Luck

Those who truly achieve financial freedom usually go through several bull and bear cycles: gaining experience through volatility, holding firm at lows.

Mainstream assets like Bitcoin and Ethereum are the real tools that can carry wealth long-term. Instead of risking everything on shitcoins, it’s smarter to position yourself in assets with real value.

Playing with meme coins might earn you some pocket money — but the myth of “10x or 100x wealth” belongs to only a tiny few. Most people end up losing everything in this game. Even if you do make some money from a project, if your capital isn’t well allocated or your mindset is off, you’ll likely lose it all back.

Right now, the wealth creation myth on BSC has reached its peak — the bagholders are probably lining up to buy in. After this shitcoin frenzy passes, the market will likely shift back to mainstream assets.

The next phase of the market probably won’t be about wild speculation on BSC tokens — it’ll be about the return of value in Bitcoin and Ethereum.

I can’t tell everyone to completely stay away — after all, blocking people’s money is like killing their parents — but I just hope everyone keeps a clear head and doesn’t get caught up in the hype.