The frenzy of Meme coins reflects the power of traffic but lacks wisdom. Opportunities always exist in the market; it is not the coins that are scarce, but the opportunities to acquire wealth. Hot money chases the fantasy of getting rich quickly, leading to a continuous emergence of new games and investment opportunities, forming a constantly cycling new situation.

The Meme War of Three Public Chains: Who is Leading?
Ethereum, this big brother, has always had a community-oriented Meme gameplay. With the Pectra upgrade landing in 2025, coupled with the trump card of spot ETFs, the ecosystem is indeed warming up. But the problems are also obvious—Gas fees are still painfully expensive, Layer.

There is a status code 402 in the HTTP protocol, which was established in 1997, meaning "Payment Required." However, because there were no suitable payment methods at that time, this feature has remained unused for nearly thirty years.
The situation is different now. Stablecoins have matured, Layer 2 has reduced transaction fees, and more importantly - AI Agents have become popular, and they need to pay real money for services. A leading exchange has seized this opportunity, reactivated a "dust-collecting" button, and created a protocol called x402: when AI or users access paid content, there is no need to register, no need to navigate pages, payment is done directly on-chain.
It sounds like an "automatic payment" feature? In fact, it is a whole ecosystem that is being rebuilt. From the underlying protocol standards, to the intermediate infrastructure, and to the top-level application products, x402 may rewrite the payment logic of the internet.

Recently, meme coins have surged in popularity again. Looking at the screen full of wealth myths, I suddenly thought of something quite heart-wrenching – the market has never lacked coins, but rather the illusion that makes people feel "this time it can really make money."
The "end of history" theory has never been realized in the coin circle.
Do you remember when the American scholar Fukuyama proposed the "End of History" theory? The same goes for the crypto space: at the end of each cycle, there are always some who leave in silence, saying things like "There are too many coins, there won't be any new opportunities."
After BTC came out, it was said that there would be no more cryptocurrencies.
After ETH became popular, it is said that there are no more opportunities for public chains.
After a certain meme exploded, it was said that the memes were dead.
But what is the truth? BTC is not the end point; it is the starting point.
There is a subtle contradiction here: you have to acknowledge the uniqueness of BTC while also accepting that the market is always creating new opportunities. To understand this point, you have to think in several circles.
Oversupply? No, always chasing scarcity.

He never touches memecoins.
It's not that I missed out; it's that I never intended to get in.
The Alternative Wealth Perspective of a 14-Year-Old Dropout
Karnika E. Yashwant, known in the circle as "Mr. KEY." He dropped out of school at 14, and now? He is the owner of several companies in Dubai, with over 150 employees, and serves as an advisor for a number of blockchain projects.
In his eyes, Dubai is "the capital of digital freedom's future."
Unlike those players who chase after rising or falling prices, Mr. KEY never chases after hundredfold coins. He only believes in one thing: understanding exactly what you are buying.
"I buy things, not looking at how much it will rise tomorrow. What I look at is how much it will be worth in ten years."
Bought Ethereum at 100 dollars, still buying at 3500 dollars.
I recently had a chat with him and found that his understanding of the market is completely on a different wavelength from most people.
His approach? Filter out the noise, focus on the fundamentals, and use the thinking of institutions.

The vibe on the BSC chain has been a bit surreal lately.
This public chain, once dismissed as a "knockoff hub," has now become a cultivation sanctuary for Meme players. That's right, just like the cultivation in "A Record of a Mortal’s Journey to Immortality" or "A Will Eternal"—foundation building, alchemy, tribulation crossing, ascension, not a single step missing.
From the classic totem coins like $PEPE, $DOGE, and $BONK, to the new cultivation, alchemy, and spirit pet-themed Memes popping up on BSC, the entire style of the chain has changed. Tokens are no longer called tokens, but "spiritual roots." Holding tokens is now referred to as "cultivating." When a price rises, it's not just "pumping," it's "breaking through realms."
Players no longer call themselves investors, but "wandering cultivators."
Why BSC, though?
It actually makes a lot of sense that BSC has become the main battlefield for the Meme cultivation universe.
First of all, it's cheap.

During the National Day holiday, the A-shares market is closed, and stock investors are packed into tourist attractions. But in the crypto world? An event even more thrilling than a roller coaster is unfolding.
Several meme coins you may have never even heard of—Meme4, PALU, and that thing called "Some Platform Life"—have seen their market caps multiply dozens of times in just a few days. Early entrants are seeing account profits starting at millions of dollars. The Chinese-speaking community is in an uproar, and all kinds of KOLs on Twitter are acting like they've struck gold.
And the result? Before the frenzy could even reach its peak, starting October 9, the coins collectively nosedived. Some fell as much as 95% in a single day, with over 100,000 trading accounts liquidated, totaling $621 million.
The dream of getting rich overnight turned into a nightmare of retail investors' losses.
Does this scene feel familiar? Think back to the GameStop incident in 2021. Reddit retail investors banded together to push the stock price of a nearly bankrupt game store to the top...

Polish trader Barry experienced the craze of Chinese meme coins. He observed a surge in trading volume on the BSC chain, with European and American players feeling confused about Chinese tokens. The Chinese community promotes the token through emotional resonance and storytelling, while the West relies on luck and community support. New exchange competition and cultural integration indicate that in the future, Chinese and English will continue to dominate the market, with cross-cultural opportunities gradually emerging.

The article discusses the similarities between the Meme coin PING and the BTC inscription, pointing out that both rely on on-chain data and off-chain adjudication mechanisms. PING mints tokens by transferring USDC to a specific Address, while its validity is determined by the x402scan indexer. Furthermore, the article suggests that PING will trigger a new ecological evolution, and although it faces centralization issues, its narrative and potential development are worth following.

The current market liquidity is severely lacking, and investor sentiment support is merely a short-term rebound. Altcoins are heavily indebted, with holders and developers leaving in droves. Although MEME coins were once popular, they lack technical support and cannot maintain long-term value. Exchanges are facing competition from new platforms and are increasingly "internalizing" to survive. The entire industry urgently needs to achieve rebirth through on-chain innovation.

From community jokes to a speculative battlefield worth hundreds of billions of dollars, the evolution of Meme币 has been ridiculously fast over the past two years.
In 2024, the entire Meme coin sector saw a capital surge of over 500%. By early 2025, speculative funds began to crazily withdraw from mainstream coins and poured into various alt Meme coins. How insane was this craze? A certain former president-themed token reached a market capitalization of $27 billion in less than 24 hours after its launch. In the following weeks, over 700 imitation tokens emerged in the market, 192 of which directly used the names of family members, and 67 even dared to claim "official" status.
Who is leading this game?
The current market cap of Meme coins is around 63.6 billion USD, with a daily trading volume reaching 7.6 billion. However, there is quite a bit of inflation in these numbers— the top 10 coins account for 90% of the entire market share. Dogecoin alone occupies 31.59 billion USD, followed by Shiba Inu at 6.29 billion, and PEPE takes up.

Recently, I've been bombarded with questions: what on earth is $PING and $PAYAI up to?
A MEME coin actually wants to create a Launchpad platform, while another project claiming to be a utility token suddenly wants to migrate and change pools - does this operation look like a scam? To be honest, with the current market situation, I'm also not sure. But at least some logic can still be figured out.
Why do these two projects need to "struggle"?
Actually, if you think about it carefully, their actions are quite reasonable. If placed in a better market environment, these adjustments would definitely be considered positive.
Where is the problem?
- MEME is most afraid of lacking follow-up empowerment, relying entirely on emotions and consensus to sustain it.
- What about technical tool projects like Facilitator? The ceiling is low, and the technical threshold is not high.
The result is: both sides lack a "core story" that can continuously inspire belief.
So what about the current operation? Just right to supplement each other's shortcomings:

From a joke to a 100 billion market, what happened to Meme coins?
When it comes to Meme coins, many people's first reaction might still be "Aren't they just those Dogecoin and Shiba Inu coins?" But if you are still stuck in this perception, you may have already missed out on a market change that is crazily outrageous.
In 2024, the total market value of the Meme coin sector skyrocketed by more than 5 times. By early 2025, speculative funds surged crazily from mainstream coins to various bizarre Meme altcoins. Even more exaggerated, the US SEC classified many Meme coins as "collectibles" rather than securities—what does this mean? Regulatory protection significantly decreases, and players bear their own profits and losses.
How big is the current Meme coin market? The total market value is approximately $63.6 billion, with a 24-hour trading volume of $7.61 billion. This figure accounts for 5-7% of the total value of the global crypto market. Doesn't sound like much? But it's important to note the volatility of this sector.

In the three main battlefields, who is the true arena for Memes?
Ethereum has recently been in a bit of an awkward position—with the Pectra upgrade and the positive news about ETFs, theoretically it should be a carnival for Meme coins. However, high gas fees and the fragmented ecosystem of Layer 2 have deterred retail investors. Established projects still have some heat, but the incubation period for new projects is absurdly long, and the whole ecosystem has a vibe of "the elite circle enjoying themselves." In simple terms, if ordinary people want to participate? The barriers are right there.
Solana is another extreme. Low gas fees and high TPS have made it a fast track for memes, and everyone has witnessed the surge of BONK and PENGU. The frequency of on-chain transactions crushes traditional public chains. But here comes the problem—over-speculation in the ecosystem, PVP competition leading to existential doubts, and technical stability occasionally faltering with outages. Once this label is solidified, how much momentum can it have?
On the contrary, it is BSC, from last October "Binance people

A 27-year-sleeping HTTP status code has been awakened by an AI agent
In 1997, the HTTP protocol reserved status code 402 — "Payment Required."
At that time, the internet hadn't found a suitable online payment method, so this code remained unused. Until 2025, when stablecoins matured, L2 reduced transaction costs, and AI

During the National Day holiday, the meme coins in the crypto market experienced wild surges and crashes, with many investors going from quick riches to heavy losses in a short period. The article compares the different regulatory mechanisms in the US and Chinese markets, pointing out that emotions and narratives dominate price movements in the crypto market, forming a new type of "emotional capital." It emphasizes the need to strengthen community governance and transparent regulation to prevent the market from becoming a tool for profit-taking at investors' expense, and calls on investors to stay calm and make independent judgments.

Recently, a magical phenomenon has appeared on the BSC chain—crypto traders have started "cultivating immortality."
Not a metaphor; some people are turning Meme coins into cultivation novels. From foundational building to ascension, a complete realm system, even the token names exude an immortal aura.
Why has BSC become the main battleground for Meme coins?
It's quite simple. This chain has three natural advantages:
Extremely low gas fees. You can issue a coin for just a few cents, making the trial-and-error cost almost zero. Want to refine pills? Just cast a furnace first—it's not expensive anyway.
Active community atmosphere. BSC users love memes and interaction. Posting a cultivation emoji might be the start of the next hot project. This sense of participation is much more stimulating than simply buying coins.
Obvious KOL influence. Influencers on this chain have strong appeal. When someone shouts "start the furnace and refine pills," a crowd immediately follows. It's very much like sects recruiting disciples in cultivation novels.
These factors combined make

Binance Life has launched futures trading, boosting market sentiment, especially among meme coin investors focused on BNB Chain. Analyzing sentiment, trends, and cultural background can improve success rates. Although volatility and expectations are unpredictable, long-term holding remains a rational choice.