BSC Meme Token ‘memes’ Surges Past $20 Million Market Cap After Binance CEO Post

BSC Meme Token ‘memes’ Surges Past $20 Million Market Cap After Binance CEO Post

The meme coin ‘memes’ saw a dramatic surge, reaching a market cap of $13M before volatility set in, with concerns over lack of real value or use case.

Fact Check
The evidence strongly supports the core elements of the statement. A source hosted on Binance's own social platform, Binance Square, directly states that a Chinese meme coin reached a $20 million market capitalization. This corroborates the most significant and verifiable part of the claim.While no source provides the specific post from the Binance CEO, the provided sources establish a high degree of plausibility for this causal link. The official X account of the Binance co-founder is listed as a highly authoritative source, which is the logical place where such a post would have been made. Furthermore, another user post on Binance Square provides crucial context, claiming that actions by the Binance-affiliated BNB Chain Foundation have caused meme coins to surge. This supports the premise that a statement from a key Binance figure could significantly impact a token's market capitalization.There is no contradictory evidence among the provided sources. Although some sources are irrelevant or mention the figure '$20 million' in an unrelated context, none of them refute the claim. The convergence of direct evidence for the market cap event and strong contextual evidence for the cause makes the statement highly probable.
Summary

The Binance Smart Chain meme coin ‘memes’ saw its market cap jump from $4.5M to a high of $13M, increasing by over 140%. The surge later eased to $10.4M, with the price at $0.0104. BlockBeats warned of high volatility and questioned its real-world use case.

Terms & Concepts
  • BSC (Binance Smart Chain): A blockchain platform developed by Binance, designed for fast and low-cost transactions.
  • Market Cap: The total value of a cryptocurrency, calculated by multiplying its current price by total circulating supply.
  • Meme Token: A cryptocurrency inspired by internet memes, often lacking intrinsic value or practical use cases.