Middle East Meme Wave Surges on Binance Chain

Last weekend (March 15-16), led by Mubarak, the MEME coins assisted in reviving sentiment on the BNB Chain. The long-dormant P players switched to Middle Eastern time zones, eagerly joining the festivities.

In this wave of MEME speculation, Binance founder CZ and He Yi transformed into trendsetters, actively engaging in meme creation and distribution, pushing the hype to new heights with various MEME promotional materials.

MGX Investment Boosts Heat, CZ Ignites Middle Eastern MEME Narrative

Recently, Binance announced it secured a massive $2 billion investment from the UAE Sovereign Fund MGX. This significant news not only attracted widespread attention within the industry but also became the strongest speculative narrative on the BNB Chain.

On March 13, the day Binance officially announced the MGX investment, the official account posted a tweet on X featuring an image of a “wealthy little editor” wearing a traditional Middle Eastern headdress. This humorous tweet caught the attention of CZ and He Yi, leading to their interactions.

In his retweet, CZ captioned it with “Mubarak,” a term derived from Arabic meaning “blessing” or “to bestow grace.” This culturally resonant term was quickly seized by the market, and numerous MEME coins named Mubarak began to emerge in the community. However, among the plethora of MEME tokens, CZ subsequently retweeted a related tweet from a member of the “0x5c…46f6” community, which acted like a “mandate,” rapidly forming a consensus in the market, and the attention on Mubarak surged.

As the excitement continued, CZ dropped another bombshell on Binance Square—he posted, “Going to see a friend this weekend,” along with a funny MEME image themed around Mubarak, which began to spread rapidly through the community.

On March 15, Binance Alpha quickly launched Mubarak, and the next day CZ spent 1 BNB each to buy 9,161 TST and 20,155 mubarak, hinting in a post on Binance Square that he was “doing some testing over the weekend.”

This series of actions brought the speculation around Mubarak to a climax. On March 16, CZ tweeted, “Considering changing my profile picture, looking for interesting suggestions from the community,” mentioning that his current profile picture had been in use for 11 years. Coupled with his recent frequent mentions of Mubarak, this statement undoubtedly added more imagination space for the MEME coin, with some speculating that the new profile picture might relate to the wealthy persona of Mubarak. Additionally, supported by the community, Mubarak also won a $4.4 million permanent liquidity pool support from Binance.

In contrast to the on-chain PVP chaos triggered by CZ’s announcement of the name of his pet dog “Broccoli,” this recent operation regarding Mubarak was notably smooth. “With a cloth on my head, I am the richest in the Middle East,” from the cultural label of Mashallah to the teasing of the Middle Eastern version of CZ, to the launch on Binance Alpha and CZ personally buying in, every interaction propelled Mubarak to achieve virality. It can be said that the rise of Mubarak is a blend of celebrity effect, cultural narrative, and MEME attributes, precisely capturing the hot window for Binance’s layout in the Middle East.

GMGN data shows that Mubarak’s market cap peaked at nearly $150 million. However, according to Ai Yi’s analysis, Mubarak currently faces a liquidity depth issue, which may hinder large holders from selling their positions without significantly impacting the price.

Mubarak currently has a market cap of approximately $134 million, with a 24-hour trading volume of $88.1 million, but the liquidity pool depth stands at only $4.48 million, accounting for merely 5% of the daily trading volume. For instance, the top address currently holds 13 million tokens valued at about $1.618 million, and attempting to sell them at market price would incur a slippage loss exceeding $500,000, as the current liquidity pool’s BNB depth cannot support such a scale of trade.

Besides Mubarak, several Middle Eastern narrative MEME coins are also being fervently speculated in the market. For example, a few days ago, CZ retweeted an old post saying “Inshallah” along with a photo with MGX board member Tahnoon, captioned “Mashallah,” which once propelled the MEME coin of the same name to popularity, but it significantly retraced after the tweet was unpinned.

Interactive Marketing Ignites Community Sentiment, Limited Space for MEME Speculation

The explosive trading of Mubarak ignited sentiment on the BNB Chain, and Binance’s movements became fodder for market speculation, with its interactive marketing sparking waves of community enthusiasm.

For instance, on March 13, He Yi commented on a tweet about Binance’s organizational chart, asking, “Who is that person in the upper right corner? I haven’t seen them before?” This statement instantly ignited community excitement.

Many members quickly joined in the fun, photoshopping their avatars into the organizational chart, creating a wave of memes. The Binance official X account also jumped in, replacing the figure in the chart with “BNB Holder” and humorously altering it to “Palu”—a name derived from the popular game “Palworld,” often humorously referred to as “Ox and Horse Workers” in the Chinese community. Such self-deprecating brand marketing and community interaction spread like wildfire in the crypto circle, giving rise to the “Web3 Palu” meme tag and evolving into the eponymous MEME coin Palu, further heating up the market.

Moreover, the trending “answer me” and “look in my eyes” video memes on Douyin have also been creatively adapted by the crypto community, featuring CZ and He Yi as the main characters in numerous remixed videos. These humorous videos not only went viral within the community but also received retweets and likes from CZ and He Yi themselves, with the Binance official account joining the interaction, amplifying the impact. Consequently, the eponymous MEME coin $Answer became another market hotspot.

However, overall, the current speculative space for the majority of MEME coins on the BNB Chain exhibits certain limitations. According to GMGN data, in the past 24 hours, the MEME coin with the highest transaction volume on the BNB Chain was Mubarak, approaching $100 million, while only three projects reached transaction volumes in the tens of millions, with most others lingering below one million or even several hundred thousand dollars, indicating a concentration of market heat and insufficient long-tail effects.

To attract more users, Binance Wallet has launched a six-month zero transaction fee trading event. On March 17, Binance announced that starting from March 17, 2025, at 16:00, it would implement a zero transaction fee trading event applicable to all trading pairs within Binance Wallet. The event will last until September 17, 2025, at 16:00.

During the event, all transactions completed through the exchange and cross-chain bridge functions within Binance Wallet or the quick purchase feature of Binance Alpha will be exempt from transaction fees, though users will still need to pay network gas fees. Additionally, transactions conducted through third-party dApps are not included in the event.

In summary, in the ecological construction of the BNB Chain, the “two-way rush” between Binance and the community has become a highlight of its marketing strategy, not only bringing it closer to users but also injecting more vitality and topicality into the ecosystem through the light-hearted and humorous approach of MEME.

This article is collaboratively republished from: PANews