Changpeng 'CZ' Zhao said he was surprised by the recent BNB meme season

Source Cryptopolitan

BNB meme season is now a clear trend, producing significant gains for strategic investors. Up to 70% of meme traders are in profit, according to Bubblemaps.

BNB meme season is at its peak, based on Bubblemaps data. The on-chain data app shows that 70% of investors in the Binance ecosystem memes are now in profit. The recent on-chain trading spree onboarded 100K traders, though still only 40 made gains in the millions, and only one whale locked in over $10M

Binance’s founder Changpeng ‘CZ’ Zhao acted surprised about the meme season, though his tweets were the main reason for some of the asset rallies. 

Previously, Zhao’s tweets have boosted new tokens like BROCCOLI, with the most recent rallies including GIGGLE and PUP. 

The meme season coincided with one of the most significant rallies of the BNB token. The asset peaked above $1,300, briefly flipping XRP and USDT to become the third-largest asset by market capitalization. As Cryptopolitan previously reported, the native token and the engagement of Zhao signaled the expansion of a BNB season, with effects on all related assets. 

Four (4) became the top BNB meme

On-chain data shows Four (4) produced the most millionaires, with 21 traders achieving over $1M in gains. 

Other tokens produced a little over a dozen millionaires. Leading tokens from the past days included PUP, PALU, and Binance is Life. 

Another recent star is Yellow Pepe (YEPE), which is now expanding its market cap and becoming a fixture in the BNB ecosystem. YEPE traded near an all-time peak at $0.02, gaining mindshare each day. The token was created on October 4 and was immediately picked up by notorious trader James Wynn, who also has a track record of promoting PEPE and other memes. 

The leading BNB memes are still closely watched for wallet bundling, overly-aggressive promotion, or insider trading. 

The meme season on BNB Chain has accelerated quietly, but gained more attention lately after the series of BNB price records. Whales and top trader wallets are closely watched to discover the next hot token. 

BNB Chain catches up with Ethereum on meme activity

The peak of the BNB meme season arrived after Solana launchpads slowed down and lost some of their mindshare. 

BNB is still the third-largest chain in terms of meme trading. In the past month, BNB carried 11.4% of all meme activity, almost catching up with Ethereum’s share of 12%.

The recent meme season is mostly linked to newly launched and newly promoted tokens. Older BNB assets from previous meme seasons have not made a return. Even previously hot memes like MUBARAK and BROCCOLI are over 90% down from their peaks. 

The BNB meme market is also regionally isolated, competing with other attempts to produce viral memes. Four.meme continues to add new assets with a bid for fame, all of them at risk of losing their liquidity or being displaced by new memes.

Sharpen your strategy with mentorship + daily ideas - 30 days free access to our trading program

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Ethereum (ETH) Price Closes Above $3,900 — Is a New All-Time High Possible Before 2024 Ends?Once again, the price of Ethereum (ETH) has risen above $3,900. This bounce has hinted at a further price increase for the altcoin before the end of the year.
Author  Beincrypto
Dec 17, 2024
Once again, the price of Ethereum (ETH) has risen above $3,900. This bounce has hinted at a further price increase for the altcoin before the end of the year.
placeholder
Analyst Flags XRP as Market’s ‘Best Risk/Reward’ Play as Token Tests Critical $1.60 SupportCrypto analyst Scott Melker identifies a prime risk/reward setup for XRP as it tests key support at $1.60, offering a tight stop-loss against potential upside targets near $2.00.
Author  Mitrade
Feb 03, Tue
Crypto analyst Scott Melker identifies a prime risk/reward setup for XRP as it tests key support at $1.60, offering a tight stop-loss against potential upside targets near $2.00.
placeholder
Ethereum Price Forecast: ETH faces heavy distribution as price slips below average cost basis of investorsEthereum (ETH) extended its decline on Wednesday, dropping more than 5% over the past 24 hours toward the $2,100 level, which is below the $2,310 average cost basis or realized price of investors, according to CryptoQuant's data.
Author  FXStreet
Feb 05, Thu
Ethereum (ETH) extended its decline on Wednesday, dropping more than 5% over the past 24 hours toward the $2,100 level, which is below the $2,310 average cost basis or realized price of investors, according to CryptoQuant's data.
placeholder
Bitcoin Drops to $70,000. U.S. Government Refuses to Bail Out Market, End of Bull Market or Golden Pit? The U.S. government refuses to bail out Bitcoin, and with Fed rate cuts nowhere in sight, a continued downward trend to test for a bottom is likely after a brief rebound.During the mid-da
Author  TradingKey
Feb 05, Thu
The U.S. government refuses to bail out Bitcoin, and with Fed rate cuts nowhere in sight, a continued downward trend to test for a bottom is likely after a brief rebound.During the mid-da
placeholder
Bitcoin Surrenders $65,000 as Analysts Warn of ‘Structural’ Market BreakBitcoin plunges 11% to break $65k as analysts term the crash "structural," citing a $1 trillion market wipeout and $2.09 billion in daily liquidations.
Author  Mitrade
Feb 06, Fri
Bitcoin plunges 11% to break $65k as analysts term the crash "structural," citing a $1 trillion market wipeout and $2.09 billion in daily liquidations.
goTop
quote