The BNB ecosystem meme coin market suddenly faced a "bloodbath": CZ clarifies that there is no endorsement, triggering an 800 million dollar collapse, and 100x coins fell by 95%.

The frenzy of Meme coins on the BNB Chain came to an abrupt halt after CZ clarified that his social media posts were not trading signals or endorsements. As a result, a series of popular Meme coins fell by 60% to 95% in the past 24 hours, triggering a market crash that is estimated to involve the evaporation of 800 million dollars in market capitalization. During the previous "BNB Meme season", over 100,000 traders rushed in, pushing the volume on PancakeSwap to an all-time high, but a brief statement from CZ quickly burst the bubble, leading to liquidity exhaustion and panic selling. The price of BNB was also dragged down, pulling back by 2% after reaching an all-time high, but the fundamentals and long-term bullish structure of its network remain intact.

CZ Clarifies No Endorsement: The Meme Coin Frenzy Bubble Bursts Instantly

The meme coin "Carnival Season" driven by the community and speculation on the BNB Chain suffered an almost devastating blow in October 2025.

· Trigger Point: When CZ responded to a trader's warning on platform X, he clearly stated that his tweet "is not an endorsement" ** and mentioned that he is now just "tweeting normally, and any overlap with Meme coins is purely coincidental." This statement was interpreted by the market as a **public cooling off of the Meme coin craze.

· Large-scale dumping: CZ's remarks quickly triggered a wave of selling on the major decentralized exchange PancakeSwap on the BNB Chain. Previously dominant meme coins, such as $HODL, $SAFU, $BROCCOLI , and $PUP , experienced a decline of up to 80% to 95% during the crash.

· Market capitalization evaporates: Several Chinese-themed meme coins have also been severely impacted, with their market capitalization dropping from a high of 500 million USD to a fraction. It is estimated that the total market capitalization of the meme coin market has fallen from a peak of approximately 2.1 billion USD to 1.3 billion USD, evaporating about 800 million USD.

· Traders suffer heavy losses: Data shows that over 100,000 on-chain traders participated in this round of Meme coin frenzy, with nearly 70% of them profiting at the peak. However, a large trader invested approximately $6.6 million in 5,090 BNB during the rally and is currently facing an unrealized loss of about $1.2 million.

Network Activity and BNB Price Performance: The Game Between Fundamentals and Short-term Sentiment

Despite the burst of the Meme coin bubble, the network activity of BNB Chain has reached a milestone high, highlighting the positive impact of the Meme coin craze on network usage.

· New High in Network Usage: Driven by trading in Meme coins, BNB Chain set a record of 50 trillion Gas usage in a single day, processing 24 million exchange transactions in just one day. The trading volume on PancakeSwap reached nearly 80 billion USD in September, and in the first nine days of October, it processed 30 billion USD in trading volume, marking the busiest month since the end of 2021.

· BNB Price Pullback: As the native token of the network, BNB price is affected by the sentiment of the Meme coin retreat, falling 2% within 24 hours, from a high of 1,308 USD down to around 1,270 USD.

· The long-term structure remains robust: This pullback occurred after BNB experienced an explosive rise of 45% over the past month. BNB set a record of 1,295 USD on October 7, with a year-to-date increase of 84%, outperforming Bitcoin and Ethereum. Technical analysts point out that BNB broke through long-term diagonal resistance earlier this month, confirming the shift in bullish structure.

Technical Analysis and Outlook: Is the BNB Price Pullback a Buying Opportunity?

The current BNB price is in a correction phase, and analysts are focusing on key technical support levels.

· Recent support and resistance: Although there has been a lot of buying support in the range of 1,255 USD to 1,280 USD, BNB has not been able to successfully reclaim the resistance level near 1,320 USD, and short-term bearish pressure still exists.

· Key support level: The market expects BNB to experience a pullback:

· Shallow pullback support: between 1,100 USD and 1,150 USD.

· Deep support: between 900 dollars and 1,000 dollars, close to the trend line and Fibonacci midpoint area.

· Mid-term outlook is positive: Despite the short-term pullback risks, the mid-term prospects for BNB remain optimistic. The increasing network usage, along with mainstream CEX and Trust Wallet adopting a standard 0.05 Gwei Gas fee, makes on-chain activities faster and cheaper. If the buying momentum recovers in the key pullback area, BNB is expected to resume its rise later in this quarter and reach new highs.

Conclusion

The recent collapse of the BNB Chain Meme coin market is a classic case of speculative bubble burst. Zhao Changpeng's clarification tweet acted like a needle, instantly puncturing the fervent emotions based on celebrity effect and pure hype. Despite the severe turbulence in the Meme coin market, the underlying network usage of BNB Chain reached an all-time high, indicating that the frenzy surrounding Meme coins has driven the growth of network metrics. For BNB, the short-term pullback is an emotional market reaction, but the continuous improvement in its technical structure and network fundamentals provides a solid foundation for a medium-term rise. Investors should pay attention to the retest of key support levels to determine whether it is a good opportunity for entry.

This article is for informational purposes only and does not constitute any investment advice. The cryptocurrency market is highly volatile, and investors should make decisions cautiously.

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Last edited on 2025-10-10 00:57:17
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蓝鲫青春版vip
· 10-10 01:40
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