Why Can BSC Successfully Replicate the Solana Ecosystem Meme Miracle?

Under the blessing of the three-wheel Meme craze, BSC has transformed from CZ retweeting a tweet supporting a "Happy Trading" rug pull newbie to now being a united "multi-component" upgrading together, acting as the "external armor" connecting exchange liquidity, and mastering the combination attack of market sentiment manipulation, becoming a "veteran." What has BSC done? Why is it said to be most likely to replicate Solana?

Testing Starts with "Test Coins"

BSC's Meme skill growth can be divided into three parts. On February 5th, the BNB chain team released a promotional video for Four.meme containing test tokens. Similar test tokens hyped by the market are actually not rare, including previous instances like pumpfun or various Dex demo videos. What's peculiar is CZ, who never played with Memes, reacted to this. The next day, CZ retweeted the video tweet and explained the situation, with his solution summed up in just two words, "Happy Trading."

The gears of fate started turning at this moment. The market's response to the first-ever Meme call-out from the top influencer in the industry on that day pulled the token's market cap up to $50 million, and three days later, when it listed on Binance, $Tst skyrocketed to a $600 million ATH. This wave of wealth effect caused BSC's Dex trading volume to more than triple, but the frenzy did not last long.

However, at this stage, CZ's Meme skills still appeared somewhat amateur. He underestimated the rallying power of his own words, attempting to casually end it with "Happy Trading," but failed to control the spread of market FOMO sentiment. After $TST listed on Binance, liquidity did not continue to grow but was instead seen as a short-lived attention economy frenzy. Looking at the fact that only 10 tokens were successfully launched on the Four.meme platform that week, CZ's initial "test" did not bring long-term ecosystem vitality to BSC. This indicates that he is still exploring the community-driven nature of Meme coins and the market's rhythm.

But what truly sparks imagination is Binance's shift in attitude towards Meme coins. Compared to the cautious approach of BSC Meme coins in the past to avoid suspicion, this time "Binance can even list test coins, so what about other Memecoins?" planted a seed of thought in the community. How much liquidity can the first CEX bring to Meme? This question was directly answered a few days later.

Doge is a Required Course

On the morning of February 13, CZ tweeted expressing curiosity about the operation mechanism of the MEME coin, inquiring whether just sharing a pet's name and photo would lead to someone creating a related token, and questioned how to differentiate the "official" version. Upon understanding the related mechanism, CZ stated, "The way things work is interesting. As with dealing with major decisions as usual, I need to ponder for about a day. Should I respect his privacy, or should I disclose the dog's information for everyone? Well, I may also interact with a few MEME coins on the BNB Chain."

When someone suggested using a random dog photo, CZ responded, saying no, as that would be deceitful. If it's to be done, it must be done correctly. It's just about sharing a dog photo and name.

Subsequently, the entire internet began speculating on CZ's pet dog's name and started lurking around related MEME coins in an early attempt to "get a seat," with a few token market caps even being inflated to thousands or even billions of dollars. Later that day, CZ teased that he would release the dog's photo in about 3 hours (around 8 p.m. Dubai time), whetting the appetite of MEME players.

After hours of waiting, CZ finally unveiled the photo of the pet dog Broccoli and their story in the early hours of February 14, stating, "I just posted a picture of my dog and his name. I will not personally issue a Meme coin. It depends on whether the community wants to do it. The BNB Foundation may provide rewards for the top MEMEs on the BNB Chain, offering LP support or other rewards. Details are still being discussed. More to come."

Following that, there was a frenzy on the BNB Chain. Thousands of MEME coins named after Broccoli suddenly emerged, to the extent that even the Binance Web3 wallet had a section titled "CZ's Dog." Investors were dazzled, followed by an on-chain PvP battle and RugPull performance centered around Broccoli, the "broccoli." The BNB Chain faced a large-scale stress test, but the results were not optimistic. The BNB Chain did not withstand this wave of stress testing, with a congested network, a lagging frontend, and traps everywhere. Meme players coming from the smooth Solana network complained about the poor experience.

As commented by Brother AC, since CZ did not disclose the contract address, originally intended to allow the community to grow on its own, this Meme directly caused significant losses for retail investors on the BSC, with even the highest market cap among the Broccoli coins only reaching a billion dollars. Despite a relatively high level of market participation, the funds were highly dispersed, failing to form a consensus leader project. Liquidity shifted to the pockets of developers and insiders, with a large number of rock and insider hands intertwined, making investors the sacrifice for liquidity exit. According to on-chain data analyst Yu Jin's monitoring, one creator of a Broccoli on the BNB Chain spent only 1 BNB to profit $6.72 million, achieving a 9517x return in 24 minutes.

In this round, the "intern" CZ's progress in BSC Meme manipulation has its limitations. He started to understand the cultural attributes of Meme, mobilizing community emotions through teasers and storytelling tweets, demonstrating higher engagement than the $Tst period. However, he has not yet mastered how to guide market consensus, listing multiple tokens with the same name under Binance Alpha, leading to severe token homogenization. Furthermore, the infrastructure has caused BSC network congestion due to high-concurrency transactions and a severe MEV situation, failing to create a smooth Meme ecosystem similar to Solana's.

CZ later reflected that this was an unexpected "stress test," acknowledging that BSC still lags in scalability and community guidance. This experience made him realize that Meme not only needs popularity but also infrastructure support and clear guidance. This social experiment indeed brought some on-chain educational reflections to BSC. They should deeply understand that to promote on-chain culture, infrastructure, cultural education, community guidance, and even the impact of leaders' "freedom of speech" are essential.

Culture, Personalities, and Infrastructure: The Trio of Memes

Over the next month, due to the overall bearish sentiment in the market, BSC had time to address some of the issues encountered in the previous "stress test." Just as the "Mubarak" was happening, everything was ready.

The distribution of the $4.4 million liquidity support to the top Meme, which had been previously incentivized, was completed. Three days later, on March 10, the announcement was made to start the second round of liquidity support. Prior to this, CZ personally intervened to try on-chain products, and the first time using the on-chain tool, the "newbie" CZ realized the problem after using the in-house Dex. In March, the Pascal hard fork test was initiated, introducing gas abstraction, smart contract wallets, bundled transactions, and repeatedly expressed determination to thoroughly improve malignant MEV.

After all these preparations were made, the new round of "stress test" arrived. With a retweet and caption by CZ saying "Mubarak," the formal start of the "test concept," followed by the "broccoli concept" third wave summitting a piece of cloth, the world's richest "Middle East concept." Regarding the "Mubarak" event, Rhythm also made related content reports, which are not reiterated here.

Further Reading: "Mubarak Weekend Soared 1300 Times, CZ Adds A Few More A8 Players to BSC | 100x Recap"

During this market cycle, the sentiment towards this round of 'CZ' market manipulation, known as Meme Season, has been mostly positive and bullish. What stood out this time was the sense of timing compared to previous occasions, which was like night and day. First, the news about MGX's investment in Binance captured everyone's attention. In conjunction with Binance's Chinese-language Twitter account, CZ created a "Mubarak" concept out of thin air and interacted with the simple and understandable IP character "Palu." CZ quickly interacted with one of the Mubarak community members on Twitter, avoiding the chaos seen during the previous "broccoli" period. At key moments, strategically positive developments were used to elevate Mubarak to a new height. This triggered a broader sense of Meme Season. Following Mubarak's listing on Binance, Binance Alpha 2.0 was introduced, and the "BNB Goodwill Alliance" was established to counter MEV.

There has also been a rise in unofficial, spontaneously emerging infrastructure. For example, during the downtime of Four.meme, Flap took over the spotlight from Palu with the "DDDD" trend, and new token launch models like FairMint emerged. More and more infrastructure projects are appearing during this cycle.

The effects of this Meme Season have significantly benefitted Binance, especially when looking at the data. The most notable impact is the Dex trading volume, which at one point during this cycle reached twice that of Solana.

Token turnover rate hit multiple highs but a substantial amount of external funds did not flow into the ecosystem. This indicates that liquidity is formed by genuine on-chain buy and sell orders, and the trend remains bullish.

GDP represents the ratio of fees earned by applications in the ecosystem. While GDP and ecosystem transaction volume have remained relatively stable, TVL in the ecosystem has doubled, indicating that on-chain liquidity is still not saturated relative to the number of participants.

Community influencer and researcher Timo "@timotimo007" believes that Binance this time around went straight for the liquidity side of the 'demand side,' using liquidity changes to impact asset issuance. In simple terms, the immense liquidity on the Binance main site will affect how future assets are issued. Surprisingly, Binance did not consider the supply side but instead launched a major move on the liquidity side, which, in turn, will impact the supply side.

The BNB Card incident, on the other hand, triggered a KOL event that made people think about BSC's meme development. The market seems to be full of "post-traumatic stress disorder" regarding this kind of "conspiracy group" behavior. Using Meme Master Neso's concept, most of BSC's current meme coins still belong to Forced memes, which refers to memes that are artificially promoted or attempted to be forcibly made popular, rather than spreading naturally through people's love and sharing. These types of memes lack external scalability and cannot form a freely developing community scale on-chain. This will be key to BSC's success in replicating Solana.

Whether the current popularity of BSC can continue remains to be seen based on market reaction. If attention and liquidity can persist and inertia is generated. According to the "Chief Intern" CZ's 2025 BNB Chain plan, AI will likely account for a larger share of resources, and the previously hyped DeSci also has a high probability of making a comeback on BSC. Regarding BSC, BlockBeats will continue to follow its next move.