Can what we are trading now still be called meme coins?

The "1011" crash came so suddenly that when everyone woke up, their attention followed the market's bloodbath. Nevertheless, with the market quickly recovering, especially with $BNB hitting an all-time high, the BSC meme market remains very active. Although discussions about BSC meme coins are no longer the hottest topic of "immortal battles," they still deserve further contemplation.

Is the BSC meme market reasonable?

Many players believe that this wave of BSC meme market is a "manufactured bull market" by Binance, possibly as one of the means for Binance to initiate a "business war."

Since the hype is almost entirely centered around the tweets of CZ and He Yi, along with Binance Alpha and the contracts or spot listings on Binance's main site serving as huge short-term upward momentum, it is indeed hard to say that this round of BSC meme market is "organically occurring."

However, "irrational speculation" cannot be equated with "unreasonable market conditions." Whether it was the explosive rise of Indonesian guy Ghozali's selfie NFT over three years ago, the crazy inscriptions during the bull market two years ago with a new protocol or chain every day, or the "Kid Brother" GenZ Quant Rug's descendants breaking a market cap of over $100 million a year ago, the pursuit of explosive returns from irrational speculation is entirely reasonable. It is merely about participating in a short-term highly concentrated attention PvP and believing that there will be significant capital backing to lift it up.

So, is this good?

Have meme coins changed, for better or worse?

Murad's "meme coin supercycle" speech caused a stir in 2024. He believes that the best meme coins offer more functionality than almost all altcoins; they provide fun, reduce loneliness, and foster identity—achieving the goals that DAOs were supposed to realize, bringing resonance, emotional connection, a sense of mission and meaning, entertainment, and happiness, even promoting charity, storytelling, and legend building.

A truly excellent meme coin needs to withstand the test of time. Murad believes that building a belief takes at least seven to eight months and must undergo at least two 70% crashes. The best meme coins require a core mission and goal, with a community that has a strong cultural or identity recognition, unafraid of storms, and making every possible effort to achieve their mission and goals over the long term.

Of course, one could say that having a meme and executing an action to tokenize it forms a so-called "meme coin." This wave of BSC meme market somewhat resembles the rapid shifts of attention in variety shows or internet celebrities; today it's about life, tomorrow it's about customer service, and the day after it's about cultivation. Just like variety show guests or internet celebrities, seizing the opportunity to engage in business activities or sell products while they are hot is not wrong.

There are many such viewpoints: "I'm just here to make money; I don't care what a meme coin should be like, as long as it can make money." "Building is just foolishness; isn't building just about getting people to take over?"

It is precisely because long-term operations are a labor-intensive task that seemingly worthless meme coins are no longer just an emotional-level game but have quantifiable evaluation metrics for good and bad. Such metrics are crucial for the long-term development of the meme coin market because only with metrics that resonate like a stock's profitability can we obtain one of the things retail investors desire most—fairness.

With a consensus-based evaluation system, if you think it's good, I think it's good, and he thinks it's good, and retail investors all think it's good, the current monopoly of KOLs' voice in the market will truly improve. Otherwise, insider information, opening bundling, KOL organizing, and other means that allow resource advantages to harvest retail investors will continue to exist.

Is the BSC meme market good or bad?

For retail investors, volatility means opportunity. Whether profiting or losing in the BSC meme market, overall, it is a stream of fresh water, with a market that "everyone thinks should not be missed" being better than a stagnant market like a dead pond.

We cannot know the true intentions of Binance, the most influential entity in the industry, in leading this meme market, but we hope they can do better and play a more positive role.

For example, after the initial phase of wild growth, carefully observing and selecting meme coins that persist in long-term construction within the ecosystem and supporting these coins.

For instance, a more comprehensive creator incentive mechanism to ensure the enthusiasm of creative and willing long-term operators.

In any chain, whether Ethereum or Solana, there has been a period of wild growth. Perhaps BSC just needs more time.

Conclusion

Meme coins can go far, far enough that young people can really make money based on their cultural intuition and aesthetics, far enough that they can play a role in real life in some unexpected form rather than just becoming speculative donations, far enough that they can truly become a part of young people's lives or a lifestyle.

Meme coins can also "die" quickly; we can accept that one form of their existence may be a fast-paced casino. But if we are confident about this, in the end, we can only watch them become a wasteland.

If this industry and market have genuinely brought you profits and changed your life, can we start today to sincerely hope that this market can be a little better?

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