When evaluating immutable blockchain projects, does the outcome really define the value? Personally, I'd argue not—but the market tells a different story.

Take Pumpfun: It's structured around fee-based mechanics and developer participation, with some builders launching 20k+ projects. The model raises questions about sustainability.

Bonk presents another angle—known for volatile price action and traders chasing specific chart patterns. The trading dynamics are intense and unpredictable.

Then there's Bags, which sits in a gray zone. The community consensus remains unclear on its long-term positioning.

The real question isn't whether these coins are immutable, but whether the mechanisms driving their ecosystems create lasting utility or temporary momentum. Market psychology often trumps technical fundamentals in these scenarios.