Original Author: Golem, Odaily Planet Daily
Recently, a BUBB meme coin on the BNB Chain has gained increased attention in the community, as Binance founder He Yi actively interacted with and followed it on the X platform on March 21 early morning. According to GMGN data, after He Yi's interaction, BUBB's market value rose from $2.5 million to $27 million, an increase of over 10 times. Currently, after a brief pullback, it has reached a new high, with its market value touching $34 million.
BUBB is not a standard "riding on He Yi's popularity" meme coin. It is a hand-drawn artistic style meme coin created by @vutnerable, issued on the Four.meme platform in the early morning of March 20, with a market value reaching $6 million before He Yi's interaction.
The current community consensus is that BUBB will become the leading artistic style meme coin on BNB Chain, filling the gap in this meme subsector. Additionally, BUBB's emergence signifies that BNB Chain has attracted numerous overseas meme players and developers, as artistic style meme coins were previously mostly concentrated on Solana. It also means that BNB Chain's meme era is entering a new phase, with chain hot spots no longer solely revolving around CZ and He Yi, but with more original and community-driven memes rising.
Is BSC Meme Really Different This Time?
This week, Mubarak surged due to CZ's crazy mentions last weekend. We expressed concerns on Monday about whether "CZ-style Build" is sustainable for BNB Chain, given that chain-wide data in February did not consistently retain players and funds.
Data Perspective: Sustained Heat for a Week
Surprisingly, after a week of observation, BNB Chain's on-chain heat has not diminished. Although TVL and on-chain activity haven't changed significantly, DEX trading volume and data from the main meme issuance platform Four.meme are impressive.
Looking at DEX trading volume, Artemis data shows that from March 14 (when Mubarak first became popular) until now, BNB Chain DEX trading volume has led Solana, Ethereum, and Base daily.
According to defillama data, BNB Chain DEX trading volume reached $14.22 billion in the past week, ranking first among blockchains, while Solana dropped to third place after Ethereum. PancakeSwap, BNB Chain's main DEX, became the highest trading volume DEX in the past week.
Examining Four.meme's data, Dune shows the platform's total revenue exceeding 6,266 BNB (approximately $4 million), growing by about $1.5 million since the last calculation on March 17. The platform's daily unique users, daily token launches, and daily trading volume have generally shown an upward trend over the past week.
Combining these data points, BNB Chain's current meme wave shows stronger on-chain activity persistence compared to February's TST and CZ's pet dog, with attention not fading within one to two days. Of course, official support also plays a crucial role. This week, Binance co-founder He Yi significantly increased his social media activity and actively engaged with the community and project parties, with BUBB's explosion being a vivid example.
Moreover, Binance's first voting listing activity on March 20 not only stimulated various meme communities' enthusiasm but also extended the expectation of BSC Meme listing on Binance spot to March 27. As long as the community sees hope, BNB Chain's meme heat will not quickly dissipate.
New Narrative Emerges, No Longer Dependent on He Yi and CZ
Beyond good-looking on-chain data, the narrative's hot spots are gradually moving away from He Yi and CZ. In February, both TST and CZ's pet dog were strongly linked to CZ, and last weekend's Mubarak shared this characteristic. However, for a meme ecosystem to develop healthily, it cannot solely rely on founders shilling but needs more community-driven and original memes.
This week, BNB Chain's meme autonomy is increasing. Besides the hand-drawn artistic style meme coin BUBB mentioned earlier, the animal kingdom series is also rising, with ALANDALDS becoming temporarily popular, reaching a maximum market value of around $1.2 million.
These trends might indicate that BSC Meme is truly going to be different this time?
In Conclusion
Some argue that these are merely surface-level illusions, and one week of good on-chain data proves nothing. Additionally, meme coins like BUBB and ALANDALDS have not actually escaped He Yi and CZ's influence and are still gaining attention because of them.
Essentially, BNB Chain's memes are still divided into two categories: those directly related to CZ or He Yi, actively promoted and mentioned by them (like Broccoli, Mubarak), and those that CZ and He Yi might interact with or be interested in (like BUBB or AI and other style memes).
Regardless, in this week's overall cold crypto market environment, BNB Chain's memes and Binance wallet new token launches are among the few things that can still touch players' hearts. Some are talking about getting rich, others are still observing. How long this BNB Chain meme wave will last and what will emerge next week remains to be seen.
BSC Meme remains popular this week. Will it really work this time?
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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