Written by: J1N, Techub News
During the National Day holiday, the on-chain activity exploded. The "Binance" themed Meme on BSC spread virally, from "Binance Life" to "Binance Car" and "Customer Service Xiao He," making Chinese Memes the hottest topic on the chain, attracting foreign crypto enthusiasts to join the "learn Chinese" craze. However, "there's no banquet that doesn't end; this feast has reached its conclusion, the delicacies have long been consumed, leaving only cold leftovers and a scene of chaos," before foreigners could fully grasp the Chinese language, they were met with "pouring life."
While the excitement was palpable, the familiar formula, familiar taste, old narratives, new rhetoric, and old enthusiasm repeated in cycles. It wasn't driven by technological breakthroughs but rather another short-cycle loop dominated by emotions.
Community and Celebrity Effects Driving the Narrative
The "Binance series" Meme feast began during the National Day holiday in early October, when the U.S. government paused the release of economic data due to a shutdown, followed by Bitcoin reaching new highs, leading the crypto market into a collective bullish expectation for "Uptober." Funds found their outlet, and BSC became the active venue for this round of Meme festivities. Low GAS fees, high throughput, and a mature DEX ecosystem supported a nationwide speculative carnival.
BSC's 24-hour trading volume once surpassed Solana, reaching the top, with nearly 70% coming from these "Binance series" Memes. The ignition point stemmed from the combination of community teasing and celebrity effects. Binance co-founder He Yi posted on X:
"Drive a Binance Car, live in a Binance community, enjoy a Binance life."
Source: X
An unintentional reply was reinterpreted by the community into a Meme representing the "Binance spirit."
Some mocked the slow project updates and wallet crashes with this phrase, while others directly used it to create coins, forming the origin of "Binance Life."
Subsequently, "Binance Car" followed closely.
Source: X
On October 8, Jia Yueting posted a picture of a car with "BNB" printed on it on Twitter, captioned "Drive a Binance Car, Enjoy a Binance Life." Although he later clarified it was unrelated to any project, it was enough to ignite the fuse for traffic.
It can be said that this Meme frenzy was not led by the project parties but was fueled by the community, celebrities, and public opinion in a self-igniting emotional wave.
Short-term Surge and Influx of Liquidity
On the day "Binance Life" launched, its market cap was less than $1 million, but with community support and whale involvement, it reached 6,000 times within three days, with a market cap soaring to $500 million and a 24-hour trading volume of $325 million. Some invested $1,000, instantly multiplying it by hundreds, exclaiming they were "winners in life."
Source: @BenXi1000x
Following closely, "Binance Car" also surged rapidly, with a trading volume of $33 million within an hour and a market cap exceeding $34 million; "Customer Service Xiao He" reached a market cap of $89.64 million within just a few hours, with a 24-hour trading volume of $95.01 million, an increase of 196.8%. The community joked, "Customer Service Xiao He went online so fast, Four platforms crashed," and meme images and emojis further deepened the myth of "amazing people" and "show-offs."
Source: Community
Throughout the process, the Binance ecosystem played a crucial role. The news of Giggle Academy donating $11 million in BNB was repurposed by the community as narrative material for "crypto doing good." On-chain data showed that early investors controlled the market through low circulation rates, driving prices up. BSC's overall trading volume surged, with other Memes like PALU increasing by as much as 1693%, but network congestion and soaring Gas fees exposed ecological bottlenecks.
Users quickly switched from one project to another, lacking long-term holding stickiness. Derivative topics like "Open Sesame" and "Cultivation Meme" continuously flooded X, amplifying the community's recognition of the "amazing people" myth while also accelerating emotional rotation.
From the Peak to Returning to Market Value
After the explosive rise, a correction came as expected. "Binance Life" plummeted over 30% just after the holiday, with the current price at $0.3181, a 24-hour drop of 9.48%, and its market cap shrank from $500 million. CZ denied endorsement, and He Yi clarified, leading to an instant price collapse, with community sentiment shifting from optimism to skepticism, and some investors reported significant losses, lamenting, "It all dropped so quickly."
"Binance Car" also fell sharply, with Jia Yueting's clarification causing the price to halve, and its market cap dropped to a low point, but the number of transactions remained active; "Customer Service Xiao He" declined within 6 hours after its short-term peak, with a remaining market cap of $39.7 million. BSC Meme data showed that about 70% of traders were profitable, but the remaining 30% faced pressure. Other Memes like Yepe and SZN cooled off significantly, with trading volumes dropping noticeably. The current price of BNB is $1,270, down 4% in the last hour, and PALU's market cap is $61.5 million, with a 24-hour drop of 35.13%.
These data once again validate the typical cycle of Memes: "short-term surges, raising prices for offloading." He Yi's warning about "the community teaching people a lesson" proved true, highlighting the coexistence of short-term wealth effects and high risks. Community users joked: "From Binance Life to pouring life, the smart ones have already eaten their fill and quietly left, while you, who are slow to realize, still refuse to leave, banging your bowl with chopsticks, fantasizing about the next delicious main course, only to ultimately face the hefty bill for this feast; someone always has to foot the bill, and this time it's me."
The Lifecycle of Memes is Alike
Looking back at established Memes like Dogecoin (DOGE) and Shiba Inu (SHIB), which were boosted by Musk in 2021, their market caps once reached $80 billion and $39 billion, but now they have become more of a swing trading tool. New Memes like PEPE rely on platforms like Pump.fun for zero-threshold issuance, creating short-term legends, but 99% ultimately go to zero, with trading fee revenues dropping by 90%. The wealth effect deteriorated from 7:3 to 6:4, and participants shifted to zero-sum PVP games, leading to a quiet market.
ORDI, representing Bitcoin Ordinals, had a market cap of several billion dollars at the beginning of 2024, peaking at $96.17, but fell 92% in 2025, currently priced at $7.9. Trading volume dropped from billions to $45 million, and community activity declined.
Other mainstream chain ecosystems (like early Solana projects) also faced many failures. Pump.fun data shows that 99% of Memes go to zero, with whale manipulation and narrative failures. The Memecoin Supercycle was once highly anticipated but overlooked the return of market rationality.
The core remains a zero-sum game: a few profit, while most lose. Community-driven narratives seem democratic but are actually tools of manipulation. BSC data shows that whales manipulate prices through low circulation, making it easy for retail investors to get trapped.
The "Binance series" Memes cannot escape the same fate: "Binance Life" leveraged the Binance brand, just as ORDI is based on Bitcoin; "Binance Car" relied on celebrity effects; "Customer Service Xiao He" depended on character narratives. Without practical applications, the path to collapse is eerily similar. Experience shows that no matter how well-packaged, the essence remains speculation, and the fate of 99% going to zero cannot be changed.
Know When to Stop and Allow the Market to Cool Down
The Binance Meme feast on BSC reflects the power of market sentiment but also exposes the rules of speculation and narrative cycles. The short-term wealth effect sparked excitement, but in the long run, 99% of participants will ultimately return to zero-sum games.
The explosive popularity of "Binance Life" made foreign crypto enthusiasts seriously "learn Chinese" for the first time, and the impressive memes on Twitter became the focus of market discourse. However, when jokes turn into profit games, the soul of Memes also dissipates.
In the world of cryptocurrency, emotions remain the primal driver, but knowing when to stop is the only way to avoid becoming a victim of "passing the parcel."
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