The "Middle East" meme has blown into BSC, and the CZ concept coin Mubarak has skyrocketed, breaking through 140 million USD.

CN
1 day ago

Original|Odaily Planet Daily (@OdailyChina)

Author|Wenser (@wenser2010)

“Middle East” Meme wind has blown to BSC, CZ concept coin Mubarak skyrocketed to over $140 million

After receiving a $2 billion investment from Abu Dhabi's MGX, Binance founder CZ once again brought a Meme feast belonging to the BSC ecosystem to the crypto market. Many "Middle East concept Meme coins" have become active again, among which Mubarak's market value quickly rose to over $140 million in just a few days, making it a "CZ concept dragon." Odaily Planet Daily will briefly summarize the BSC Meme bull market under the CZ concept in this article for readers' reference.

The Beginning of the Story: CZ's "Middle Eastern Friend" GMX Invests $2 Billion in Binance

Everything starts with Abu Dhabi's MGX investing in Binance.

On March 12, Abu Dhabi investment company MGX invested $2 billion to acquire a minority stake in Binance. For details, see “Unveiling MGX's $2 Billion Investment in Binance: The Son of the UAE's Founding Father at the Helm”. On March 13, CZ himself retweeted the media news about Binance accepting MGX's investment.

This investment is also the largest in the history of cryptocurrency and the largest made in the form of a cryptocurrency stablecoin. Given MGX's extraordinary position in the investment field in the Middle East and even globally, the market interpreted it as Binance aligning itself with Middle Eastern power, causing BNB's price to rise over 10% on that day.

Binance's Chinese official account posted, accompanied by images of Islamic believers from the Middle East. Subsequently, this tweet received CZ's retweet support, with the caption: “mubarak🌛” (Note from Odaily Planet Daily: Arabic for "blessing").

“Middle East” Meme wind has blown to BSC, CZ concept coin Mubarak skyrocketed to over $140 million

The Butterfly Wings Begin to Flap

On March 14, community member @chinababa88 posted a meme in the comments section on X platform stating “MUBARAK=CZ,” which received a retweet from CZ himself, accompanied by a “😂” emoji, indicating his recognition and attention to this meme.

“Middle East” Meme wind has blown to BSC, CZ concept coin Mubarak skyrocketed to over $140 million

The similarity is indeed high

Subsequently, CZ retweeted his 2021 tweet “Inshallah” (Note from Odaily Planet Daily: Arabic for 'God willing'), along with a photo of his meeting with UAE President Sheikh Mohammed bin Zayed Al Nahyan, with the caption “Mashallah”, and pinned the tweet.

“Middle East” Meme wind has blown to BSC, CZ concept coin Mubarak skyrocketed to over $140 million

“Wearing a cloth on my head, I am the richest in the world”

On March 15, CZ posted on Binance Square stating “Going to meet a friend this weekend,” accompanied by Mubarak-related meme images. As a result of this news, the price of the BSC ecosystem meme coin Mubarak rapidly surged over 150%, with its market value once exceeding $20 million, and a 24-hour trading volume reaching $27.1 million. Perhaps the rise and fall of the BSC Meme ecosystem is entirely dependent on CZ; that evening, Binance Alpha officially listed Mubarak, pushing its market value to $50 million.

Just as the market believed the BSC Meme craze was making a comeback amidst extreme FOMO, CZ's unexpected “play” arrived, albeit late.

“Middle East” Meme wind has blown to BSC, CZ concept coin Mubarak skyrocketed to over $140 million

“Sexy CZ, online making money”

On the evening of March 16, CZ first canceled the previously pinned tweet related to Inshallah. As a result, the market values of Mubarak, Inshallah, and other meme coins plummeted. Subsequently, he bought 1 BNB of TST and Mubarak tokens on-chain, leading TST to briefly surge with a market value exceeding $75 million; Mubarak briefly rose over 120%, with its market value temporarily reported at $62.8 million.

This operation left the market puzzled, and CZ responded on Binance Square, stating “Doing some tests this weekend.” Some community members lamented: “This man can influence the entire BSC ecosystem, and he still loves to test.”

On the evening of March 16, Mubarak's market value briefly exceeded $92 million, temporarily reported at $84 million, with a 24-hour increase expanding to 85.8%; on the morning of March 17, Mubarak's market value exceeded $100 million, currently reported at $98 million, with a 24-hour increase expanding to 158%, and subsequently surged to nearly $150 million. As of the time of writing, according to GMGN data, Mubarak's market value has once again risen to around $130 million.

It is worth mentioning that Mubarak is also a token project launched by the one-click token issuance platform Four.meme in the BSC ecosystem, and another project by the team behind this platform, BNX, has also seen a recent surge.

Mubarak, Inshallah: “Blessings” and “God Willing” from Middle Eastern Power

Below are representative Meme coin projects of this “Middle East concept Meme coin.” Odaily Planet Daily reminds readers that Meme coin prices are highly volatile, and investment risks are high. The following content is not investment advice, but for reference only.

Mubarak: “CZ Concept Dragon One”

Contract: 0x5c85d6c6825ab4032337f11ee92a72df936b46f6

Price: $0.13

Market Value: $130 million

“Middle East” Meme wind has blown to BSC, CZ concept coin Mubarak skyrocketed to over $140 million

Token Information

Mashallah: CZ Pinned Tweet Concept

Contract: 0xc64b6af2d11ae5f908ea12f1c3d1888eb8ee5639

Price: $0.004

Market Value: $4 million

“Middle East” Meme wind has blown to BSC, CZ concept coin Mubarak skyrocketed to over $140 million

Token Information

Other CZ-related concept Meme coins such as Inshallah, BabyMubarak, Mansa, Salmon, etc., have already undergone sufficient PVP, and their market values have significantly dropped from their peaks, so they will not be detailed here.

Those Proud Achievements on Mubarak: Some Made Over 1400 Times Profit, Some Made $1.5 Million

It is worth mentioning that Mubarak, as the currently undisputed “CZ concept Meme coin dragon one,” has allowed many traders to reap substantial profits.

Trader A: Invested 2 BNB, Made $1.5 Million

According to Onchain Lens monitoring, a trader made approximately $1.5 million in profit from MUBARAK token trading in just four days. Four days ago, the trader spent 2 BNB (about $1,155) to purchase 20.84 million MUBARAK tokens. Currently, the trader has sold 7.84 million MUBARAK for 4.7 BNB (about $2,710), and still holds 13 million MUBARAK tokens, worth about $1.5 million.

Address: 0x97015688edae42d65f94bc6fe36cfdbdcd50a710

Top Trader: Spent $1,153, Return Rate Exceeds 1400 Times

On the evening of March 16, due to purchases from CZ's address, Mubarak's market value reached a new high, with the top address 0x970 floating profit increasing to $1.2 million, a return rate of 1058 times.

Compared to previous prices, Mubarak's market value has risen again, and its floating profit has increased to $1.6 million, with a return rate now exceeding 1400 times. It is worth mentioning that this address has purchased nearly all Mubarak-related meme coins, making it a "broad net" wealth creation case.

Address: 0x97015688edae42d65f94bc6fe36cfdbdcd50a710

Of course, for many profit-takers, successfully cashing out is not easy.

Profit-Taking Is Far from Over: Mubarak's Liquidity Depth Is Insufficient

According to on-chain analyst Ai Yi stated, MUBARAK currently faces a liquidity depth issue, which may make it difficult for large holders to sell their positions without significantly impacting the price. Data shows that MUBARAK's current market value is about $134 million, with a 24-hour trading volume of $88.1 million, but the liquidity pool depth is only $4.48 million, accounting for just 5% of the daily trading volume. PancakeSwap data indicates that the cumulative TVL of the top two liquidity pools for this token is only $4.01 million, with a cumulative amount of WBNB being 3,175.8 tokens (about $2 million). Taking the top address 0x970 as an example, the 13 million tokens currently held by this address are worth about $1.618 million. If they attempt to sell all at market price, they would face a slippage loss of over $500,000, as the current liquidity pool's BNB depth cannot support such a large transaction.

Mubarak Holding Distribution: Relatively Healthy, Next Expectation May Be Listing on Binance Spot Market

According to the on-chain holding distribution chart, the current distribution of Mubarak holding addresses is relatively even, with the top addresses, including the top trader, still holding their positions, possibly waiting to sell for profit after listing on the Binance spot market.

“Middle East” Meme wind has blown to BSC, CZ concept coin Mubarak skyrocketed to over $140 million

Source: Cindy胖迪

Conclusion: CZ Drives a Partial Bull Market in BSC Meme

From the initial AVA to TUT, TST, and recently Mubarak, despite the cryptocurrency market being in a turbulent downward trend, thanks to CZ and Binance's extraordinary position and strong influence in the cryptocurrency market, the BSC ecosystem has still experienced a wave of "partial bull market." Whether CZ, Binance, and the BSC ecosystem can learn from the past meme coin craze experiences of other competing ecosystems to achieve a "curve overtaking" remains a question mark.

But in any case, the seeds have been sown, and the future direction will depend on the choices of those involved.

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