Haciyev Reşit 
Following the recent meme coin rally on the BNB Chain, the sharp corrections that followed have become a major topic of discussion within the crypto community. Some projects have lost up to 95% of their value in just one day, prompting Binance founder Changpeng Zhao (CZ) to address the situation and respond to growing criticism.
Meme Coin Frenzy Ends with a Sharp Drop
As the broader crypto market experiences a downturn, meme coins within the BNB ecosystem have taken a severe hit. The sudden crashes following the rapid surge have caught many investors off guard. Several tokens plunged by as much as 95% in a single day, delivering a major shock to traders — particularly those engaged in short-term speculation.
Market experts note that such sharp pullbacks are common after parabolic rises and emphasize that volatility tends to be more extreme in highly speculative assets like meme coins.
CZ’s Statement: “I Didn’t Do Anything”
Binance founder Changpeng Zhao (CZ) addressed the situation on social media, suggesting that the sharp declines may have been triggered by fake news. In his statement, CZ emphasized the following points:
- He had been in meetings all day in Bahrain and did not engage in any market-moving activity.
- False reports claiming that Binance Alpha would not list certain coins caused unnecessary panic.
- People tend to overestimate his influence on short-term market movements, while in reality, he was simply occupied with other work.
- He continues to support decentralized, self-custody wallets, where investors control their own keys, for accessing meme coins or other crypto assets.
CZ also pointed out that media headlines such as “Binance sold BTC” are misleading, clarifying that the correct phrasing should be “Binance users sold BTC.” He highlighted how misinterpretations in the media can distort the perception of market activity.
Sharp Declines Follow CZ’s Remarks
Shortly after CZ’s statements, several BNB Chain meme coins traded on PancakeSwap experienced steep price drops. This demonstrated how quickly investors in the crypto market can react to rumors and speculative news. Analysts noted that such rapid price movements tend to be especially dramatic in low-liquidity tokens, where even small sell-offs can cause sharp declines.
Meme Coin Rally Had Been the Talk of the Market
The BNB Chain meme coin surge had been the focus of discussion among investors and crypto communities for several days. The short-lived rally drew significant attention across social media and trading forums. Some of the standout tokens and their gains included:
- “4” coin: over +500% in a few days
- Paul (PAUL): +2,246%
- 客服小何 (“Binance Life”): +415%
- PUP: +200%
- SZN: +5,600%
These massive gains marked a brief bull run within the BNB ecosystem and reflected a peak in investor enthusiasm. During the frenzy, some traders earned substantial profits, while others missed out.
For instance, one investor reportedly sold their holdings for $23,000, only to miss out on a potential $10 million profit just an hour later.
This episode highlights how sudden market swings can create both huge opportunities and major risks. Analysts continue to stress the importance of caution when trading highly volatile assets like meme coins.
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