BSC rises again, fiercely attracting attention, while Solana & Base appear slightly weaker.
Good Monday, friends.
Compared to the previous weeks, the recent market sentiment is no longer "extremely fearful." Large-cap cryptocurrencies are warming up, small-cap altcoins have stopped declining, and of course, the on-chain Meme market that people can't let go of is also seeing a revival.
First, congratulations to the lucky BSC Meme players. The sentiment for Memes on the BSC chain has been reignited by the new hot topic $mubarak, with liquidity returning to the "Binance" narrative, causing the price of $BNB to rise to around $640, and BSC ecosystem tokens are dominating Binance's gainers list.
At the same time, the Meme market for various popular public chains has also improved over the past week. The AI hot topic in the Base ecosystem has been revived, and the "conspiracy" Meme on the Solana chain, etc…
Deep Tide TechFlow takes you through this week's popular Meme market!
Note: The price of Meme tokens is highly volatile and carries significant risks. Investors should fully assess the risks and participate cautiously. This article is merely a sharing of information based on market trends, and the author and platform do not guarantee the completeness or accuracy of the content. This article does not constitute any investment advice.
Binance Editor's Meme, Market Cap Over 100 Million
In recent days, the market has belonged to BSC, with a previously dull Meme market seeing the emergence of the multi-million dollar golden dog $mubarak.
Quick overview of the background of this Meme: On March 12, the Abu Dhabi sovereign fund MGX invested $2 billion in Binance. For an introduction to MGX and the story behind it, see the Deep Tide article: Binance's Mysterious Backer with OpenAI, UAE's Number Two Person's Trillion-Dollar Bet on AI. With a major backer from the Middle East, Binance's confidence has grown. The next day, Binance's Chinese official Twitter account posted a Meme featuring an image of a Middle Eastern tycoon wearing a necklace with the Binance logo, along with the words "Editor." This Meme tweet was then retweeted by CZ with the caption "mubarak" (meaning "blessing" in Arabic).
Following this, the market quickly saw many tokens named $mubarak racing to emerge. After a period of price and consensus supporting each other, the contract address 0x5c85d6c6825ab4032337f11ee92a72df936b46f6 for $mubarak emerged, with a current market cap of around $130 million.
However, $mubarak is not a Meme that quickly reached a market cap of over 100 million. As a semi-celebrity coin triggered by "CZ interaction," its price fluctuations are inevitably closely related to CZ's every move.
After $mubarak emerged, CZ frequently mentioned this concept on Twitter: retweeting a photo with Middle Eastern tycoon Tahnoun and actively participating in discussions related to mubarak. Although he did not explicitly endorse it, it was enough for the community. On Saturday, $mubarak reached a peak market cap of $50 million, before falling back to around $25 million.
Just when the community wondered if $mubarak would end up like before with insufficient momentum, yesterday (March 16) around 7 PM, a wallet address marked as CZ's personal wallet: 0x28816c4c4792467390c90e5b426f198570e29307 suddenly bought 1 BNB each of $mubarak and $TST, followed by CZ posting on Binance Square saying, "Doing some testing this weekend."
The news that CZ himself bought $mubarak and increased his position in $TST completely ignited the market. The market cap of $mubarak quickly surged by 200%, and $TST also saw a rise, reviving the entire BSC ecosystem. By Monday, the market cap of $mubarak had surpassed 100 million, with the peak market cap nearly 7 times the amount CZ purchased.
Igniting Sentiment, What Other Masters Are in the Meme Market?
BSC Interaction Concept
With the explosive rise of $mubarak as a sample, the traffic and wealth effects brought by CZ and He Yi's personal interactions have become increasingly evident. In recent days, many Meme tokens have emerged due to frequent interactions.
- $Palu (Binance's Palu)
Contract Address: 0xb75a7e8876df49a74cc4c76c6bda161a8ea4b483 24H Trading Volume: $15 million
Current Market Cap: $7.85 million
Peak Market Cap: $10.53 million
The background of the $Palu token's birth is still a Meme image released by Binance's Chinese official account. After interaction with He Yi, the term "Palu" mentioned by the Binance editor quickly became a token, reaching a peak market cap of $10 million.
- $TUT (Tutoria)
Contract Address: 0xcaae2a2f939f51d97cdfa9a86e79e3f085b799f3 24H Trading Volume: $11.1 million
Current Market Cap: $8.5 million
Peak Market Cap: $14.84 million
On March 17, CZ retweeted a tweet from the BNB Chain official account, which included a tutorial on how to create a BEP20 token. The demo token was named $TUT.
Hot Topics on the Solana Chain: Still Chaotic and Conspiratorial
- $YZY (Swasticoin)
Contract Address: 9gyfbPVwwZx4y1hotNSLcqXCQNpNqqz6ZRvo8yTLpump 24H Trading Volume: $13.2 million
Current Market Cap: $11.3 million
Peak Market Cap: Around $50 million
On Saturday (March 15) evening, Kanye West's former Twitter account @kanyewest suddenly retweeted a tweet with a CA pointing to the Kanye-related concept token $YZY, which seemed like a personal endorsement from Kanye West for the token. Subsequently, the token price surged by 400%.
However, there had been rumors that Kanye had already sold the Twitter account, and shortly after, the retweet was canceled. Currently, the market cap of $YZY has fallen back to around $11.3 million.
- $DOPE (Department Of Propaganda)
Contract Address: 26dRTrJjKH9pKCNHzZyj8u3B8NqrNn6SoSfWRbPpdDRS 24H Trading Volume: $13.2 million
Current Market Cap: $11.3 million
Peak Market Cap: Around $50 million
On March 14, Trump signed an executive order to dismantle the U.S. Agency for Global Media (USAGM) to reduce federal spending, which sparked controversy over media freedom. On March 16, Musk responded to this event with a Meme image, renaming it "Department of Propagation Everywhere (DOPE)."
This concept is very similar to the previously billion-dollar Meme concept "Department Of Government Efficiency (D.O.G.E)," so the related token $DOPE also quickly gained popularity on Solana. However, since the current hot topics and attention are not focused here, the market cap of $DOPE has dropped from $5 million to around $700,000, heading towards zero.
Hot Topics on Base Chain: AI Token Renaissance
After Grok's self-releasing interactions on Twitter, some token hotspots surrounding Grok have emerged. Among them, the $DRB token from the Base ecosystem has surfaced, bringing the AI token platform on Base chain back into the spotlight. However, influenced by the BSC market, the current Meme activity on Base chain has slightly cooled down.
The details of how $DRB led the revival of Base AI Memes have been previously introduced, see the Deep Tide article: Base AI Token Heat Resurges, What Has Been Hot These Days? This article will only list the related tokens without further elaboration.
- $DRB (DebtReliefBot) - Three AI Collaborative Tokens
Contract Address: 0x3ec2156d4c0a9cbdab4a016633b7bcf6a8d68ea2 24H Trading Volume: $1.8 million
Current Market Cap: $10.18 million
Peak Market Cap: Around $42 million
- $BNKR (BankrCoin) - AI Agent Token Revival
Contract Address: 0x22af33fe49fd1fa80c7149773dde5890d3c76f3b 24H Trading Volume: $340,000
Current Market Cap: $22 million
Peak Market Cap: Around $44 million
Market Conditions Are Unpredictable, Participate Cautiously and Adapt Flexibly
From the extent to which the popular Memes on Solana and Base ecosystems have been "drained" by the BSC market, it appears that more of the current situation is a battle among existing funds in the market. Liquidity inevitably suffers when chasing hot topics; as long as the narrative is not strong enough, being abandoned by the market can happen in the next moment.
Looking back at the current hot BSC market, after today's update of the Binance mobile app, the entry point for Binance Alpha has been moved from the wallet to the trading platform app front end, allowing users to trade projects listed on Binance Alpha directly with funds within the exchange. The exposure level is roughly equivalent to being listed on spot trading.
The increase in exposure has also driven some Memes already listed on Binance Alpha across various chains to rise. However, don't rush to invest heavily; according to user feedback on Twitter, although it is possible to purchase Memes in Binance Alpha directly from the exchange app, the trading actions still occur within the on-chain liquidity pool, so there is still the issue of some profits being squeezed out.
However, Binance has also promised full compensation for users who have been squeezed and incurred losses.
It is undeniable that the current sentiment for Memes on the BSC chain largely relies on the personal influence of CZ and He Yi to maintain its heat. This somewhat "centralized" emotional model clearly has its pros and cons.
After all, if CZ is willing to participate in the "community sentiment + Meme" model, he only needs to put in a little effort, and the heat of BSC Memes may be sustained for quite some time; but if CZ, as the emotional center, shows any signs of "laziness," it is inevitable that the community will over-interpret it. Once the sentiment fades, BSC will naturally be left in disarray.
If the traffic brought by personal influence can be redirected into natural ecosystem traffic, while also solving the technical issues that trouble users' deep participation in BSC (such as being squeezed when buying Memes), BSC's market may go further.
This concludes the review. Be cautious of risks when participating in Meme trading, and DYOR!
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