BNB Chain Event Sparks Meme Coin Surge
Amid BNB Chain's ‘USD1 Trading Competition,’ multiple meme coins have surged in market capitalization. Notably, ‘An’ and ‘BIG DON’ have reached tens of millions in valuation, drawing investor attention.
The community believes that successful projects in the event could be listed on top-tier exchanges, prompting capital inflows into related token pools.
- ‘An’ launched two days before the official announcement and briefly surpassed a $30 million market cap, reaching $45.2 million today.
- ‘BIG DON’ started trading today, with over 90 likely related wallets purchasing within 10 minutes, pushing its market cap above $34 million.
Suspicious On-chain Buying Patterns
Despite impressive market cap gains, on-chain analysis shows unusual trading behavior:
- ‘An’ has only 11.1% of tokens held by the top 100 wallets, far below the typical 50% seen in other meme coins.
- ‘BIG DON’ experienced recurring purchases during price dips, particularly between 6:05 AM and 11:00 AM UTC, suggesting orchestrated buying.
Analysts have speculated that the operators behind both projects may be linked to the previous WLFI token launch.
Batch Wallet Transfers Detected
On-chain data also reveals the use of tools like CiaoSwap to distribute tokens before centralized purchases. Some notable BSC addresses include:
- 0xD8b54De07e0eaDc00B760B352AeA59A13d385cbc
- 0x6eFFa72a258907399d8DCe258232001A3FA609b9
For traders seeking the most liquid pools, the primary contracts for ‘An’ and ‘BIG DON’ are:
- ‘An’ contract: 0x126976da699d5ad0815eb134286fc6ca53e04444
- ‘BIG DON’ contract: 0x71429f2e1e243b451b939a2af2b69fa646064444
Investor Caution Advised
Meme coins are known for extreme volatility and often rely on hype and speculation without underlying utility or value. Investors are advised to proceed with caution.