Today (26), CZ, the founder of Binance, posted that although he has an open attitude towards meme coins, he believes that the current development trend of meme coins has become "a little weird". He pointed out that the current focus should be on building blockchain applications with real value.
I am not against memes, but meme coins are getting "a little" weird now.
Let's build real applications using blockchain.
— CZ
BNB (@cz_binance) November 26, 2024
The community culture and speculation of meme coins
Netizen IncomeSharks shared his views on the meme coin market, believing that the initial appeal of these tokens lies in their fun and entertainment, but over time, the development of meme coins has "become extremely strange and desperate". In response, CZ (the founder of Binance) responded with a smiling emoji, seemingly expressing his agreement with this view.
The community discussion of meme coins shows obvious divergence. Some netizens believe that the initial entertainment value of meme coins has faded, replaced by gradually intensifying market speculation, which makes them feel confused and uneasy about the future of this market.
Another netizen pointed out that meme coins should be a token driven by community culture, with clear narratives and meme content, rather than relying solely on market sentiment and speculative behavior to drive price fluctuations.
Some netizens emphasized that although many people see "fair launch" tokens as an advantage of meme coins, they believe that true meme coins should be created and promoted by the community, rather than just becoming a tool for short-term speculation.
Chaos in the meme coin market: live streaming out of control and price plummet
Recently, the meme coin (Memecoin) market has faced multiple chaos, from platform management failures to violent price fluctuations. The live streaming function of Pump.fun has caused controversy due to uncontrolled content (such as violence, self-harm, and pornography), and the platform has decided to temporarily suspend the live streaming service, promising to strengthen content review and monitoring mechanisms.
In addition, the two meme coins WHY and CHEEMS listed by Binance yesterday (25) experienced a rapid price plummet after the announcement, with both market capitalizations dropping by more than 40%. Market analysis indicates that this price fluctuation may be due to insider trading and "rug pull" phenomena, further exacerbating investors' doubts about the platform's operational transparency and undermining market confidence.
