Binance founder Zhao Changpeng (CZ) has issued a warning about the development of the meme coin market, emphasizing the need to focus on blockchain applications with real value, while the meme coin market frequently experiences chaos. (Background: CZ urgently calls: Macs equipped with Intel chips have significant vulnerabilities, update as soon as possible to protect your assets) (Background supplement: DeSci track surges, in-depth analysis of decentralized science potential backed by Binance investment and CZ endorsement) This afternoon (26th), Binance founder Zhao Changpeng (CZ) posted that while he has an open attitude towards meme coins, he believes that the current development trend of meme coins has become "a little strange." He pointed out that the focus should currently be on building blockchain applications with true value. I am not against memes, but meme coins are getting "a little" weird now. Let's build real applications using blockchain. — CZ BNB (@cz_binance) November 26, 2024 The community culture and speculation of meme coins Netizen IncomeSharks shared their views on the meme coin market, believing that the initial appeal of these tokens lay in their fun and entertainment value, but over time, the development of meme coins has "become extremely bizarre and desperate." In response, CZ (Binance founder) replied with a smiley face emoji, seemingly expressing agreement with this viewpoint. The community discussion on meme coins shows obvious divisions. Some netizens believe that the initial entertainment value of meme coins has faded, replaced by increasingly intensified market speculation, which makes them feel confused and uneasy about the future of the market. Another netizen pointed out that meme coins should be tokens driven by community culture, with clear narratives and meme content, rather than solely relying on market sentiment and speculative behavior to drive price fluctuations. Some netizens emphasized that while many see "fair launches" of tokens as an advantage of meme coins, they believe that true meme coins should be co-created and driven by the community rather than just becoming tools for short-term speculation. Chaos in the meme coin market: uncontrolled live streaming and price crashes Recently, the meme coin market has faced multiple issues, from platform management errors to violent price fluctuations. The live streaming feature of Pump.fun has sparked controversy due to uncontrolled content (violence, self-harm, erotic live streaming, etc.), leading the platform to decide to suspend live streaming services after a strong community backlash, and commit to strengthening content review and monitoring mechanisms. Additionally, two meme coins, WHY and CHEEMS, listed by Binance yesterday (25th), saw their prices drop sharply after the announcement, with both market caps falling by over 40%. Market analysis indicates that this price fluctuation may stem from insider trading and the "mouse warehouse" phenomenon, further exacerbating investors' doubts about platform operational transparency and undermining market confidence. Related reports CZ urgently calls: Macs equipped with Intel chips have significant vulnerabilities, update as soon as possible to protect your assets DeSci track surges, in-depth analysis of decentralized science potential backed by Binance investment and CZ endorsement CZ and Vitalik both call for action! Biological science meme coin skyrockets a thousand times, hot money flows into the DeSci decentralized science track "CZ rarely expresses: open attitude towards meme coin development, but the current trend is a bit strange.." This article was first published on BlockTempo (the most influential blockchain news media).

#CZ