This afternoon (26th), Binance founder Zhao Changpeng (CZ) stated that although he has an open attitude towards meme coins, he believes that the current trend of meme coin development has become 'a bit strange.' He pointed out that the focus should be on building blockchain applications with real value.
The community culture and speculation of meme coins
Netizen IncomeSharks shared their views on the meme coin market, believing that the initial attraction of these tokens lies in their fun and entertainment, but over time, the development of meme coins has 'become extremely bizarre and desperate.' In response, CZ (founder of Binance) replied with a smiley face emoji, seemingly expressing agreement with this viewpoint.
The community discussion around meme coins shows significant divergence. Some netizens believe that the initial entertainment value of meme coins has faded, replaced by increasingly intense market speculation, which has left them confused and anxious 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 although many people see 'fair launch' tokens as an advantage of meme coins, they believe that true meme coins should be co-created and driven by the community, rather than merely becoming tools for short-term speculation.
Disorder in the meme coin market: Live streaming out of control and price plummeting
Recently, the meme coin (Memecoin) market has faced multiple issues, from platform management errors to extreme price volatility of tokens. The live streaming function of Pump.fun has sparked controversy due to content going out of control (violence, self-harm, erotic live streaming, etc.), and after strong community backlash, the platform decided to suspend live streaming services and promised to strengthen content review and monitoring mechanisms.
In addition, the two meme coins WHY and CHEEMS listed by Binance yesterday (25th) saw a rapid price drop immediately after the announcement, with both market values falling over 40%. Market analysis suggests that this price fluctuation may stem from insider trading and 'mouse warehouse' phenomena, further exacerbating investors' concerns about platform operational transparency and weakening market confidence.