CZ Playing Memes to Boost BSC
Recently, CZ has been wildly playing with memes on Twitter with his team, retweeting Middle Eastern wealthy editors and following meme coin topics like
#MUBURAK , clearly aiming to boost BSC's popularity. This strategy has indeed proven effective, with Mubarak's market cap skyrocketing to 180 million USD and a 24-hour trading volume reaching 50 million USD. However, while the excitement is palpable, there are also numerous issues.
Firstly, the popularity of meme coins rises quickly but also fades just as fast. The meme coins on BSC are already showing signs of waning momentum, and trading volumes are starting to weaken. More critically, there’s a liquidity issue; Mubarak's pool depth is only 4.48 million USD, which is less than a fraction of the daily trading volume. With such shallow pool depth, even a slightly larger order could crash the price.
Now, looking at the meme ecosystem on the neighboring Solana chain, their success mainly relies on institutions and large investors pouring real money in. Projects like SAMO and DOGGER have capital backing them, and when the community jumps on the bandwagon, they naturally gain traction. In contrast, BSC is currently relying heavily on retail investors to buy in, and trying to elevate this to the capital level is quite challenging. After all, the
#MEME coin cannot be sustained by community enthusiasm alone; without large investors stepping in, it’s just a house of cards.
CZ, however, has distanced himself, claiming he hasn’t issued any coins and that issuance depends entirely on the community. But if this continues, the aftermath will leave a mess, and whether BSC can truly turn around by riding the wave of these meme coins remains an open question.
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