Today, PENGUIN on the SOL chain surged from 10M to nearly 100M in a single day, bringing back memories of the peak of SOL chain memes. I've seen many posts comparing SOL and BSC recently, and I'd like to share some of my thoughts. Those who experienced the Pnut and Goat eras know that SOL chain memes are incredibly dynamic. Often, significant positive events, accompanied by price breakouts, propel market capitalization to new heights. Typical examples include Elon Musk advocating for Pnut squirrels, mainstream financial media reporting on Fartcoin, etc. Today's PENGUIN, in my opinion, was triggered by several key moments: the White House tweeting, the A16Z founder tweeting and changing his signature and banner, and Binance Alpha choosing a new SOL chain meme. Let's set aside the debate of whether these memes were inherently popular and had excellent news dissemination channels, or whether the organizers behind them had powerful connections to get top accounts involved to ride the wave of popularity. Looking beyond the reasons and focusing on the results, this is what I believe is the most impressive aspect of the SOL chain: its ability to effectively transform emotions and trending events into an on-chain attention economy. This kind of pump-and-dump effect, so intense it makes you hesitant to buy in, is rarely seen on other chains. Moreover, these coins offered retail investors an opportunity to enter very early on, rather than being part of a highly controlled, conspiratorial scheme from the outset. For a meme coin to have sustained vitality, I believe the two most important factors are: first, a strong community and consensus, ensuring stability even during periods of price consolidation or decline; and second, excellent pacing, with a continuous stream of relevant events maintaining high levels of discussion and buzz, coupled with price increases to create successive major upward waves. Of course, all of this presupposes that the meme itself is compelling and not just a fleeting topic. During the era of Binance Life, Giggle, and 4, these pacing principles were largely followed, but currently, BSC memes are gradually revealing these problems. Some Meme coins have good communities and consensus, but they haven't received enough resource support, missing the best time for a price surge. In terms of themes, most of the coins that have emerged so far still rely on keywords related to CZ (Cai Xing, CEO of NetEase) and "Queen of NetEase" (a popular Chinese internet personality), which means they are destined to struggle with sustained and widespread dissemination and cannot form communities around these "memes." Most players' strategy is to grab keywords and enter the market as early as possible, waiting for the next trend if they miss it. Of course, the SOL chain also has some problems, such as the lack of its own top-tier exchange, which hinders the acquisition of liquidity for on-chain assets and thus limits its market capitalization. Furthermore, the overall market sentiment and perception of Meme coins are not as strong as the rally in the second half of 2024, and this cannot be solved by a single chain or individual. Thinking back to the old days of "dog-beating" (a metaphor for aggressive speculation), it was really fun. Hopefully, on-chain liquidity will gradually improve, and a few more projects with interesting narratives and novel themes will emerge, allowing everyone to ride the wave together.

Keep breathing

I learned something new; the logic is excellent.