Meme token activity hasn’t disappeared—it’s simply migrated. In recent weeks, traders have shifted their focus to the BNB Chain and PancakeSwap, seeking new opportunities beyond more established ecosystems.
While Solana (SOL) once dominated the meme token space, the BNB Chain and PancakeSwap now host a growing number of meme-inspired assets. This shift has brought renewed attention to tokens like Mubarak and contributed to several short-term rallies.
Following a surge in on-chain activity, Binance founder Changpeng “CZ” Zhao took to social media to comment on market conditions. While encouraging continued development, he also cautioned against overly aggressive token promotions that could lead to “rug pulls” and financial losses.
Not a competition. Keep building!
RTed earlier as I didn’t notice it contained a CA which our security team flagged as ultra high risk, lack of ownership transparency, etc. Can’t be too careful these days.
— CZ 🔶 BNB (@cz_binance) March 17, 2025
Thanks to its growing popularity, the BNB Chain has become a primary launchpad for tokens inspired by social media trends. This demand helped BNB outpace Solana in trading volume over recent weeks. Activity on the BNB Chain increased by 13.47% in the past week alone, signaling a strong recovery after an extended bear market.
Why the BNB Chain Is Gaining Traction
The BNB Chain peaked during the 2021 bull market, establishing itself as a faster, more affordable alternative to Ethereum for Web3 activities. While it has long hosted cross-chain meme tokens, it’s now emerging as a primary launch platform.
In the last 24 hours, the network recorded a volume of $1.63 billion, surpassing Solana’s $1.07 billion. Ethereum (ETH) remains in third place, though it sees comparatively little meme token activity. The BNB Chain has also integrated MEV protection, reducing sandwich attacks and trader losses.
DEX Trading Drives BNB Chain Engagement
PancakeSwap stands out as one of the most actively used applications on the BNB Chain. Recent user growth has been fueled by a mix of incentives and organic activity. According to industry data, decentralized exchanges (DEXs) on the chain—including OKX DEX—are seeing high engagement, with meme launchpads ranking among the top five most active categories.
The BNB Smart Chain has also climbed the ranks in DeFi activity, though it remains the fourth most active network overall. Like Solana, it attracts users due to its low cost and accessibility, serving as both a token trading platform and a hub for speculative meme tokens.
PancakeSwap captures a significant share of CAKE trades, enhancing the token’s liquidity. The DEX also supports bridged versions of USDT and other stablecoins. Most of the remaining activity is distributed among established and trending meme tokens.
Meme Tokens Making Waves
CZ’s Dog (Broccoli) currently ranks as the third-largest meme token by market activity. Another newcomer, Mubarak, rose 262% during its early discovery phase, breaking into the top ten assets on the chain. Mubarak’s rise coincided with the spring holidays in the Islamic world, adding cultural relevance to its momentum.
PancakeSwap V3 is primarily used for USDT pairs, though Mubarak also broke into its top ten most-traded tokens. Unlike Solana, which is known for high-speed, high-risk launches, the BNB ecosystem emphasizes curation and pre-screening. As a result, meme tokens are less frequent but often more liquid at launch.
Platforms like Four.meme aren’t designed as high-speed casinos but do reflect sustained enthusiasm for tokenized trends and community-driven projects.
BNB Outperforms Broader Market Trends
BNB, the native token of the chain, has held its ground despite slowing momentum in other cryptocurrencies. Rising demand for DEX trading pairs contributed to this stability.
CAKE, the governance token of PancakeSwap, climbed 16.5% to $2.16, reinforcing its role as one of the most actively traded assets within the ecosystem. This rally has sparked conversations about a potential “BNB season,” where the chain and its tokens outperform other networks.
BNB often serves as a proxy for holding during bull markets, since Binance remains a major beneficiary of increased trading activity. BNB open interest jumped from $580 million to over $622 million within hours, reflecting quick responses to bullish factors—including social media influence from CZ.
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Frequently Asked Questions
What is the BNB Chain?
The BNB Chain is a blockchain network developed by Binance, designed for fast, low-cost transactions. It supports smart contracts, DeFi applications, and token launches.
Why are meme tokens moving to the BNB Chain?
Traders are seeking alternatives to Solana due to lower transaction costs, MEV protection, and growing ecosystem incentives on BNB Chain.
What is PancakeSwap?
PancakeSwap is a leading decentralized exchange on the BNB Chain, enabling users to trade tokens, provide liquidity, and earn yields.
Is the BNB Chain more secure than Solana?
The BNB Chain offers MEV protection, reducing certain types of exploits. However, both chains have different trade-offs in speed, cost, and decentralization.
What caused the recent surge in BNB activity?
A combination of new token launches, rising meme token volume, and social media attention from industry figures contributed to the increase.
Can meme tokens on BNB Chain be trusted?
While the ecosystem involves more curation than some chains, users should always conduct due diligence, as meme tokens are inherently high-risk.
The shift in meme token activity to the BNB Chain and PancakeSwap highlights the dynamic and ever-changing nature of crypto markets. While speculation continues to drive trends, infrastructure improvements and community engagement remain crucial to sustainable growth.