Can we still call what we're currently trading a meme coin?

The 「1011」 Great Crash came so suddenly that upon waking up, everyone's attention followed the river of blood in the market. Nevertheless, despite this, with the market quickly recovering, especially as $BNB hit an all-time high, the BSC meme market remains very active. The various discussions about the BSC meme coin market situation, while no longer the hottest topic that was still a "Battle of the Gods," are still worth further contemplation.

BSC Meme Market: Rationality and Trends

Many players believe that this wave of the BSC meme market is part of Binance's 「manufactured bull market,」 with the motivation being one of Binance's tactics in initiating a 「business war.」

Due to the hype theme revolving around CZ and He Yi's Twitter trends, as well as the Binance Alpha and the listing of contracts or spot on the Binance main site serving as a huge push for short-term increases, it is indeed difficult to say that this round of the BSC meme market is 「organically occurring.」

Simultaneously, it is also challenging to equate 「irrational hype」 with 「unreasonable market.」 Whether it is the NFT boom of the Indonesian guy Ghozali over three years ago, the crazy engraving day in the bull market over two years ago with a new protocol every day, a new chain every day, or the "Kid Brother" GenZ Quant Rug offspring coin breaking the one billion dollar market cap over a year ago, everyone's pursuit of explosive returns brought about by irrational hype is entirely rational, only to participate in short-term highly concentrated attention PvP and to believe that there will be a huge fund behind to lift the sedan chair.

So, is this good?

Has the Meme Coin Changed, for Better or Worse?

Murad's 「meme coin supercycle」 speech caused a sensation in 2024. He believes that the best meme coins have functionalities that are better than almost all of the meme coins. They provide fun, reduce loneliness, identity—achieve the original goal of DAO, resonate, connect emotionally, provide a sense of mission and purpose, entertainment, and happiness, even driving charity, storytelling, and legend building.

And a truly outstanding meme coin needs to be tested over a long period of time. Murad believes that building a faith requires at least seven to eight months and has gone through at least two 70% crashes. The best meme coins require a core mission and goal, a community with strong cultural or identity, unafraid of storms, long-term efforts to achieve their mission and goal no matter what.

Of course, it can be said that with a meme, carrying out an action to tokenize the meme creates a so-called "meme coin." This recent BSC meme market frenzy, to some extent, is similar to the rapid shift of attention seen in variety shows or internet celebrities, where today's trend is about everyday life, tomorrow's is about customer service, and the day after tomorrow's is about spiritual cultivation. Just like a variety show guest or an internet celebrity, they seize the opportunity while they are in the spotlight to actively engage in business activities or product promotions to make money. What's wrong with that?

There is also the perspective held by many that "I'm here just to make money. I don't care what a meme coin should be like. As long as it makes money, it's fine." Or, "Development is for fools. Isn't development just about attracting people to buy in?"

It is precisely because long-term operation is actually a labor-intensive task that seemingly worthless meme coins are no longer simply a game of emotions, but rather have quantitative evaluation metrics to assess their success or failure. This set of metrics is crucial for the long-term development of the meme coin market because only when such metrics, as deeply ingrained in people's minds as a stock's profitability, can we, as retail investors, obtain one of the things we desire most—fairness— to the fullest extent possible.

With a consensus-based evaluation system in place, where you think it's good, I think it's good, he thinks it's good, and all retail investors think it's good, the current market domination by KOLs will truly improve. Otherwise, practices such as insider information, presale bundling, and KOL manipulation to take advantage of retail investors will continue to exist, keeping the resource-dominant side invincible.

Is the BSC Meme Market Trend Good or Bad?

For retail investors, volatility means opportunity. Whether profiting or losing in the BSC meme market, overall, it is a dynamic field— a market that everyone believes they should participate in, is still better than a stagnant market that resembles still water.

We cannot know for sure the true intentions behind Binance, as the most influential entity in the industry, leading such a meme market trend, but we hope they can do better and play a more positive role.

For example, after the initial wild growth phase, carefully observe and select meme coins within the ecosystem that have persevered in long-term development, and provide support to these coins.

For example, a more comprehensive creator incentive mechanism to safeguard the work enthusiasm of creative individuals who are willing to engage in long-term operations.

Regardless of the blockchain network, whether Ethereum or Solana, there has been a period of wild growth. Perhaps, BSC just needs more time.

Epilogue

A meme coin can go a long way, far enough that young people can truly make money based on their cultural instincts and aesthetics, far enough that it can actually have some unexpected real-world impact rather than just being a hype-driven donation, far enough that it can truly become a part of young people's lives, or a way of life.

A meme coin can also quickly "die," and we can accept that. Perhaps one of the forms of existence of a meme coin is a disposable, high-paced casino, but if we boldly accept this fact, then in the end, we can only melancholically watch it become a ruin.

If this industry, this market has truly brought you profits and changed your life, then can't we all, from today onwards, sincerely hope that this market can be a little better?