Original | Odaily (@OdailyChina）
Author | Golem (@web3_golem）
Recently, a meme coin called BUBB 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" coin. It is a hand-drawn artistic style meme coin created by @vutnerable, which was issued on the Four.meme platform in the early morning of March 20, and had reached a maximum market value of $6 million before He Yi's interaction.
The current consensus in the community 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 significant attention from overseas meme players and developers, as artistic style meme coins were previously mostly concentrated on the Solana chain. It also means that BNB chain memes are entering a new era, 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 from February's on-chain data, "CZ-style Build" has not consistently retained players and funds on BNB Chain.
Data Perspective: Sustained Heat for a Week
After a week of observation, surprisingly, the on-chain heat of BNB Chain 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 quite impressive.
Looking at DEX trading volume, Artemis data shows that from March 14 (when Mubarak first became popular) to 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; BNB Chain's main DEX PancakeSwap also became the DEX with the highest trading volume in the past week.
Looking at Four.meme's data, according to Dune, the platform's total revenue now exceeds 6,266 BNB (approximately $4 million), an increase of about $1.5 million from the last count (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 the above data, this meme wave on BNB Chain shows stronger on-chain activity persistence compared to TST and CZ's pet dog in February, 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 has significantly increased his social media activity and actively interacted with the community and project parties, with today's BUBB explosion being a vivid example.
Additionally, Binance's first voting listing activity on March 20 not only mobilized the enthusiasm of various meme communities but also extended the expectation of BSC Meme listing on Binance spot to March 27. As long as the community sees hope, the heat of BNB chain memes will not quickly dissipate.
New Narrative Emerges, No Longer Dependent on He Yi and CZ
Beyond the good-looking on-chain data, in terms of narrative, the hot spots of this meme wave are gradually moving away from He Yi and CZ. In February, both TST and CZ's pet dog were strongly tied to CZ, and last weekend's Mubarak had similar characteristics. However, for a meme ecosystem to develop healthily, it cannot rely solely on founders shilling, but needs memes with higher community autonomy and better originality.
This week, the autonomy of memes on BNB Chain is increasing. Besides the hand-drawn artistic style meme coin BUBB mentioned at the beginning, the animal park series on BNB Chain is also rising, with the meme coin ALANDALDS currently having higher heat, reaching a maximum market value of around $1.2 million.
These trends might indicate that BSC Meme is really going to be different this time?
In Conclusion
However, some argue that these are merely surface-level illusions, and a week of good on-chain data proves nothing. Moreover, meme coins like BUBB and ALANDALDS have not actually escaped the influence of He Yi and CZ, and are still gaining attention because of them.
Essentially, meme coins on BNB Chain still fall into two categories: those directly related to CZ or He Yi, actively promoted and mentioned by them, such as Broccoli and Mubarak; and those meme concepts 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 meme and Binance wallet new coin offerings are among the few things that can still stir players' emotions. Some are talking about getting rich, while others are still watching. How long this meme wave on BNB Chain will last and what will emerge next week, we'll continue to observe.
