Core Insights - The rally of BNB Chain's meme coins has abruptly ended, with several tokens experiencing declines of 60% to 95% within 24 hours following comments from Binance founder Changpeng "CZ" Zhao [1][5] - Zhao clarified that his social media posts should not be interpreted as trading signals or endorsements, which triggered a sell-off in the market [2][5] Market Activity - Over 100,000 traders participated in the BNB meme coin boom, with nearly 70% of them showing profits at the peak of the rally [3] - PancakeSwap, a leading decentralized exchange on BNB Chain, processed nearly $80 billion in trading volume in September, marking its busiest month since late 2021, and recorded $30 billion in the first nine days of October [4] Token Performance - Popular tokens such as $HODL, $SAFU, $BROCCOLI, and $PUP saw declines of 80% to 95% following Zhao's clarification [5] - Specific tokens like 币安人生 (Binance Life) dropped from a $500 million market cap to a fraction of that in less than a day, while PALU, which surged 1,693%, also faced significant losses [6] Market Risks - Analysts noted that parts of the market experienced rug pulls, with some tokens disappearing after collecting liquidity from buyers, raising concerns about the sustainability of the memecoin market [7]