My tweets are not endorsements, I’m just tweeting normally now - any overlap with Meme coins is purely coincidental." On October 9, this simple statement by Binance founder Changpeng Zhao (CZ) on the X platform instantly cooled the frenzied Meme coin market on BNB Chain. Within hours, several popular Meme coins plummeted by as much as 60% to 95%, resulting in about $800 million in market value evaporating instantly.
Just the day before, CZ casually announced that it was the "BNB Meme Season," with over 100,000 on-chain traders flooding into the market, driving PancakeSwap trading volume to a historic high.
01 Crazy Data: A Panorama of Meme Coin Frenzy
BNB The meme coin craze on the Chain reached an unprecedented height in early October 2025. According to the data, on just October 3rd, the BNB Chain launched platform Four Meme earned over $1 million (945.76 BNB) in fees, marking a milestone for the platform’s first seven-figure fee.
This data signifies that the activity of Meme coins on the BNB Chain has entered a heated phase.
What’s even more surprising is that the number of tokens created each day over the past two days exceeded 10,000, marking the first time since mid-March 2025. The frenzy of token creation reflects the market’s extreme enthusiasm for Meme coins.
The cumulative metrics are even more astonishing: Four Meme has earned over 26,300 BNB in fees to date, equivalent to about 27.8 million USD. Since the platform launched in mid-2024, over 384,000 tokens have been created.
However, the number of tokens that successfully graduated is only 5,150, with a graduation rate of just 1.34%. This data reveals the harsh reality of the Meme coin market – the vast majority of projects will ultimately fail, with only a very few able to survive.
02 Wealth Effect: The Myth of Wealth Creation through Meme Coin Trading
In this meme coin frenzy, the most eye-catching stories are undoubtedly those myths of overnight wealth. According to data from the blockchain intelligence platform Lookonchain, a trader "0xd0a2" turned an initial investment of $3,500 into $7.9 million in just three days, achieving a return of 2,260 times.
Such wealth stories are not uncommon.
Another trader "hexiecs" earned over 5.5 million dollars by investing in the recently launched Meme coin "4", which saw a sharp price increase after Binance co-founder Zhao Changpeng posted a tweet on the X platform.
Lookonchain data also shows that other speculators are following suit with this token, among them "brc20niubi" which turned a $730,000 investment into $5.4 million, achieving a 1200-fold return on investment.
The Bubblemaps blockchain data visualization platform shows that as of early October, over 100,000 on-chain traders have purchased the new BNB native Meme coin, with about 70% of traders making a profit.
Even more astonishing is that among these 100,000 traders, there is one address that earned over $10 million, 40 addresses that earned over $1 million, and 900 traders who earned over $100,000 in profit.
03 Ecological Support: The Infrastructure and Development of BNB Chain
The BNB Chain can support such a large-scale Meme coin trading activity thanks to its strong technological foundation and a well-developed ecosystem. The BNB Chain processes about 2 million transactions daily, which is 50% higher than in 2024.
Due to its low gas fees (estimated at about $0.10 per use) and throughput (3,000 TPS), BNB Chain is very suitable for large-scale token creation.
A certain DEX has increased the total locked value (TVL) on the chain, expected to exceed $10 billion by 2025. The upgrade of the BNB Chain network at the beginning of 2025 allows for more high-volume processing, making it possible to create as many tokens as possible recently.
The high throughput of Four Meme is based on the implementation of EIP-7702 (account abstraction) on the BNB Chain, which will be deployed in 2025. This technical upgrade further enhances the efficiency of the network and the user experience.
The collaboration between BNB Chain and Chainlink integrates the Cross-Chain Interoperability Protocol (CCIP) and Data Streams, enabling developers to access secure cross-chain communication and reliable real-world data.
The improvement of these infrastructures provides a technical basis for the explosion of Meme coin trading.
04 Star Effect: The Roles of CZ and He Yi
In this wave of Meme coins on the BNB Chain, Binance founder Changpeng Zhao (CZ) and co-founder He Yi played important roles. CZ continuously created topics through high-frequency Twitter interactions, first unexpectedly promoting the educational token TST, and later revealing his dog’s name, Broccoli, which led to the emergence of hundreds of Meme coins with the same name.
Defillama data shows that the trading volume on the BNB Chain approached $30 billion in the past week, with a weekly increase of 49.07%, ranking first among major public chains. This growth is closely related to CZ’s "shouting order effect."
However, this celebrity effect has also brought about huge controversy. A few minutes before CZ posted a picture with the PALU Memecoin logo, a wallet purchased approximately $100,000 worth of PALU, raising people’s doubts about coordinated trading activities.
On October 10, He Yi, co-founder of Binance, revealed during an interaction with community users on the X platform that BNB Chain may support products similar to Meme Rush launched by other wallets in the future.
This news has sparked further interest in the expansion of the BNB Chain ecosystem within the community.
He Yi clearly stated: "According to policy requirements, Binance currently does not serve American users." This statement reflects Binance’s efforts in regulatory compliance.
05 Risk Exposure: The Bubble and Collapse Behind the Frenzy
On October 9th, the Meme coin market on BNB Chain experienced a "bloodbath." Several popular tokens plummeted by more than 80% on Thursday, with tokens like Customer Service Xiao He and Binance Car seeing declines of up to 90%.
At the same time, BNB itself has fallen nearly 6.5% from its historical high of 1357 dollars to around 1246 dollars.
The recent crash occurred after Binance launched the "Meme Rush" launchpad, a new platform in collaboration with Four.Meme that is exclusive to Binance wallet users. It was supposed to curb false trading volumes through KYC requirements and a fair issuance mechanism, but unexpectedly triggered a wave of sell-offs.
Traders are selling off their existing tokens in droves, preparing to migrate to a new platform, exposing the fragile nature of the BNB Chain Memecoin ecosystem.
Behind the false prosperity is human manipulation and fake trading. User StarPlatinumSOL claims that a single wallet controlled nearly 39% of the PALU supply at its peak, while also controlling 23% of Binance Life and 14% of the 4 tokens.
This highly concentrated position allows whales to easily manipulate market prices.
What is even more concerning is that many Memecoin liquidity pools are extremely weak. The funds held in the liquidity pool for the tokens launched on the Fourmeme platform are less than 2.5% of their total supply.
This structure allows a small amount of capital inflow to boost market value, but once sell orders increase, it can similarly accelerate a price crash.
06 Rational Voice: Market Overheating and Investment Warning
In the face of the frenzy surrounding Meme coins on the BNB Chain, industry authorities have issued warnings. Xu Mingxing, the founder of OKX, shared his views on this matter. Although he did not directly accuse competitors, he implied that certain behaviors may exploit human weaknesses.
He stated: "The reason why pyramid schemes endure is that they profoundly understand and exploit the weaknesses of human nature."
Xu Mingxing emphasized that OKX "has never and will never artificially create tokens or manipulate the market," which stands in stark contrast to the phenomenon on BNB Chain. This difference may reveal the divergent attitudes of the two exchanges towards the Memecoin craze.
According to historical data, the daily token trading volume on the BNB Chain has decreased from about 17 million transactions per day in 2021 to about 5 million transactions currently. Moreover, according to BSC Scan data, most tokens transferred on-chain "are either meme coins or fraudulent tokens."
Many of these tokens are scams designed to lure users into trading to steal their funds.
The trading of Memecoins is essentially a highly speculative activity. As one observer put it: "The number of Memecoins is a vanity metric, similar to likes and followers on social media platforms, with no substantive content."
07 Future Outlook: The Future of BNB Chain Meme Coins
Despite the recent significant market adjustments, the network activity of BNB Chain has reached a milestone high, highlighting the positive impact of the meme coin frenzy on network usage.
Driven by the trading of Meme coins, BNB Chain set a record of 50 trillion Gas usage in a single day and processed 24 million exchange transactions within one day.
PancakeSwap’s trading volume reached nearly $80 billion in September, with $30 billion processed in the first nine days of October, setting a record for the busiest month since the end of 2021.
As a native token of the network, BNB price Affected by the retreat of Meme coins, it fell by 2% within 24 hours, retreating from a high of $1,308 to around $1,270. However, technical analysts pointed out that BNB broke through the long-term diagonal resistance earlier this month, confirming a bullish structural shift.
The market expects BNB to experience a pullback: shallow pullback support is between $1,100 and $1,150; deep support is between $900 and $1,000, close to the trend line and Fibonacci mid-range area.
Despite the short-term pullback risk, the mid-term outlook for BNB remains optimistic. The increasing network usage, coupled with major CEX and Trust Wallet adopting a standard Gas fee of 0.05 Gwei, makes on-chain activities faster and cheaper.
He Yi revealed that "the future BNB Chain will support similar Meme Rush products from other wallets," which brings new imaginative space for the expansion of the ecosystem.
Future Outlook
In the midst of intense market fluctuations, BNB Chain continues to maintain a strong fundamental. Despite the wild ups and downs in the Meme coin market, BNB Chain set a record of processing 24 million exchange transactions in a single day at the beginning of October, and PancakeSwap handled a trading volume of 30 billion USD in the first nine days of October.
Technical analysts pointed out that BNB broke through long-term diagonal resistance earlier this month, confirming a bullish structural change.
The future BNB Chain may support more similar Meme Rush products from various wallets, which will bring more possibilities and broader development space to the ecosystem.
