#Meme币板块回暖 CZ一开口，市场就“疯”了？ But this Meme frenzy might be a dangerous signal!

At the start of 2026, the script of the crypto market surprised everyone🎭. Leading the rally were not Bitcoin or Ethereum, but Meme coins like DOGE🐶, SHIB🦮, PEPE🐸, and others.
CoinMarketCap data shows that the overall market cap of the Meme coin sector has rapidly risen from its lows to $47.7 billion, an increase of nearly $10 billion in just a few days💰. Meanwhile, a Chinese Meme coin on the BSC chain called “I’m Coming” or “I’m Coming” (我踏马来了), possibly due to interactions with CZ, surged over 400% in 24 hours🚀, reaching a market cap of $3.3 million. This familiar scene quickened the hearts of veteran players💓: Is the bull market returning? But more analysts are watching coldly🧐: This might not be a rallying call, but rather a smoke screen released by the market in confusion💨.
01 Phenomenon: Collective Carnival of Meme Coins and the “CZ Effect”🎪
In the first few trading days of 2026, market funds seemed to find a common outlet🔄. PEPE surged nearly 65%, and veteran Meme coins like DOGE and SHIB also rebounded simultaneously. At the same time, a more locally flavored event caught the attention of the Chinese community👀: The Chinese Meme coin “I’m Coming” on the BSC chain rapidly increased in price📊. Although the specifics of CZ’s “interaction” have not been fully disclosed, the market unhesitatingly interpreted this as a major positive👍.
The “CZ Effect” has always been a core narrative within the BSC ecosystem. Some analysts bluntly state that the Meme model on BSC “completely revolves around CZ,” and its token value heavily depends on CZ’s personal influence and bn’s support. This reveals the fragile nature of such assets😥: Their rise can stem from a joke or a retweet, but their collapse can be just as swift.
02 Essence: “Sentiment Test Paper” in a Vacuum of Consensus🍃
Why are Meme coins always the first to stir when the market shifts from cold to hot? It’s not because they represent the future, but because they need the least “consensus.” When Bitcoin’s direction is unclear and mainstream narratives are fragmented, funds dare not bet on long-term logic. At this moment, Meme coins that rely solely on emotional resonance without complex stories become the most convenient “risk testing ground.”
An analyst accurately compared: Meme coins are not the cause of the market trend; they are the “sentiment test paper” of the market — they change color at the slightest touch, but are also most afraid of the wind🍃. Their rapid surge merely confirms one fact: there are still funds willing to bet amid uncertainty, testing the market’s risk tolerance.
Therefore, the current leading rise of Meme coins can be more accurately interpreted as a “market self-check,” rather than a “race track victory.” It exposes not the solid foundation of a bull market, but the current vacuum state caused by a lack of mainstream consensus.
03 Upgrade: From “Emotional Expression” to Dangerous “Positioning Expression”⚖
Unlike the 2021 wave driven purely by retail investors’ enthusiasm for Meme coins, this round of market shows a new feature worth warning about🚨: Data shows that open interest in mainstream Meme coins like DOGE and PEPE (i.e., leveraged positions in derivatives markets) surged in tandem with price increases. This indicates that a large amount of funds are using leverage to bet on the continued rise of Meme coins📊. This marks a change in driving force: Meme coins are no longer just “emotional expressions” of retail investors but have upgraded to a dangerous “positioning expression.”
When leverage is involved, the nature of the game changes🎲: Accelerated celebration during upward movement, but once sentiment reverses, chain liquidations can sweep the market in a more brutal and unreasonable manner.
04 Risks: The “Thin Ice” and “Invisible Tax” Behind the Carnival🏛
For ordinary participants, the Meme coin market is at least covered by three layers of “thin ice”: First, extreme volatility and fraud risks. Chains like BSC, known for low fees and high speed, attract many Meme projects, but they are also known for extreme price swings. Many projects lack real applications, driven purely by hype, with risks of developers “pulling a rug” and disappearing.
Second, ecosystem dependence and centralization controversy🏛: The Meme coin ecosystem on BSC is criticized for over-relying on bn and CZ’s personal influence. This centralization risk means that if core supporters’ policies or attitudes change, the entire ecosystem could face a trust crisis🤔.
Finally, the unfairness of the market structure itself⚖: Even on more advanced chains like Solana, applications may exploit information asymmetry to induce users to pay far above standard tips, criticized as a “hidden tax” with huge profits.
In the jungle of unregulated markets, retail investors often end up at the bottom of the food chain.
05 Warning: Is it a Frontline Signal or a Bull Trap?🕳
History keeps repeating itself, but each detail is enough to ruin someone’s fortune. Is this Meme coin frenzy a prelude to a new bull market, or a classic “bull trap”?
Optimists see a return of risk appetite, while pessimists see a bubble of leverage💡. One thing is certain: a true bull market has never been solely illuminated by Meme coins🧭. It requires clear direction from Bitcoin and Ethereum🧭, and a healthy rotation across a broader altcoin sector🔄.
Currently, the strength of Meme coins more resembles a reminder: when the lightest and most flammable assets are ignited🔥, the real trend fire may still be gathering strength, or it may never arrive. And you, better first see clearly which thin ice you are standing on⛸.