On-Chain Observation | A recent phenomenon has become quite evident — the overall market is stable, but Chinese Meme coins on BSC are weakening in the opposite direction.

By looking at on-chain data, you can feel this temperature difference: the recent hot Chinese Meme coins have generally retraced today, with some projects directly "breaking their K-line."

A few representative ones:

**"I'm Coming"** has dropped 36% in 24 hours, with a market cap of around $12.5 million. When sentiment recedes, liquidity immediately thins out.

**"Dark Horse"** experienced the sharpest decline, dropping 64% in 24 hours, with a market cap shrinking to $4.8 million. Typically, this is due to high expectations and overextended narratives.

**"Life K-line"** fell 54%, with a market cap around $4.1 million. The name is quite mystical, but the trend is not mystical at all.

**"Laozi"** actually increased by 53%, with a market cap of $3.87 million. It’s one of the few with remaining sentiment still in play.

The key signal is here — many people tend to overlook this detail:

**When the overall market stabilizes but Meme coins don’t follow, it usually means sentiment funds are withdrawing, not adding.**

The driving force behind Chinese Meme coins isn’t fundamentals; it’s three things: emotional consensus, dissemination speed, and willingness to pass the baton. Once the marginal effect of new narratives weakens, and no new funds flow in, the retracement is often quick and fierce.

In other words: it’s not that BSC chain is failing, but that this round of Chinese Meme coins’ "short cycle" is coming to an end.

Where did the funds go? Either they are looking for the next new story or returning directly to more established main lines.

At its core, Meme coins are emotional derivatives, not value assets. Rising doesn’t mean they have value, falling doesn’t mean someone did something wrong — it’s just that the emotional tide recedes and the baton passing stops. Participation is possible, but you must recognize that you are trading emotional fluctuations, not long-term logic. On-chain heat is heat, but not every fire can keep burning forever.