Recently, US President Trump posted on Truth Social, directly criticizing the NCAA (National Collegiate Athletic Association) for its recent predicament due to a judicial ruling, predicting it would lead to "BIG trouble." The "BIG" symbol in the post immediately attracted significant attention from the cryptocurrency community—in social media contexts, the "$" symbol typically corresponds to a tradable cryptocurrency code. Combined with Trump's previous successful launch of the "TRUMP" meme coin, the market quickly speculated that he might be re-entering the meme coin market.
According to real-time monitoring data from Trends News, approximately 10 seconds after the post was published, a token named "BIG" appeared on the Bonk platform within the Solana ecosystem. As of December 8th, the token had accumulated 5,148 unique wallet holders, with its peak market capitalization exceeding $5.3 million, before currently falling back to $3.6 million. This data fluctuation trajectory closely matches the typical "rapid rise-sharp fall" characteristic of the memecoin market, further confirming the extreme sensitivity of the meme coin market to celebrity influence.
Solana ecosystem becomes a new battleground for memecoin; Bonk platform data reveals player ecosystem.
As the core platform for this round of memecoin craze, the Solana network, with its high throughput and low transaction fees, has become the main platform for memecoin issuance. According to data from Dune Analytics, the number of new memecoin projects launched on the Solana chain in Q4 2025 increased by 180% quarter-on-quarter, with 65% of these projects deployed through the Bonk platform. This ecosystem is closely related to Bonk's "zero-code rapid token issuance" feature—users only need to pay 0.01 SOL (approximately $0.30) to create a token, significantly lowering the barrier to memecoin issuance.
Specifically, in the case of the BIG token, its initial liquidity pool was launched with a total of 20 SOL (approximately $600) injected by three early participants. Within 24 hours, the peak transaction volume reached 8.2 million, and on-chain gas fee revenue exceeded 12,000 SOL (approximately $360,000). It is worth noting that although the token experienced a 93% market capitalization drawdown within 48 hours, according to Glassnode on-chain data analysis, more than 60% of holders still chose to continue holding their positions, demonstrating the "high volatility tolerance" characteristic unique to the memecoin market.
In-depth analysis of memecoin market characteristics and investment risks
From Dogecoin to Trump, the rise of memecoins has always been accompanied by strong community culture and speculative attributes. According to a recent CoinGecko report, the global memecoin market size reached $8.5 billion in 2025, accounting for 1.2% of the total cryptocurrency market capitalization. However, this growth hides significant investment risks. For example, the market capitalization of BIG token plummeted from $5.3 million to $3.6 million within 24 hours, a volatility far exceeding that of traditional asset classes.
It is particularly important to emphasize that memecoins often lack real-world use cases. Unlike Bitcoin's "digital gold" narrative or Ethereum's smart contract platform positioning, most memecoins rely solely on community consensus to maintain their value. For instance, the official white paper of BIG token in this incident only contains the vague statement "creating happiness for holders," without any technical roadmap or application scenario planning. This "air coin" nature makes memecoins highly susceptible to the direct influence of market sentiment and celebrity opinions.
Regulatory Gaps and Investor Protection Dilemmas
Currently, there are still significant gaps in the global regulatory framework for memecoins. While the U.S. Securities and Exchange Commission (SEC) classified some memecoins as securities in 2023, the criteria for defining "tokens without practical use" remain unclear. In Europe, the EU's recently passed Crypto Asset Market Regulation Act (MiCA), while requiring token issuers to disclose basic information, lacks specific regulatory measures for the "community-driven" model unique to memecoins.
This regulatory lag is particularly evident in this incident. According to monitoring by blockchain security company PeckShield, within the first 30 minutes of BIG token creation, more than 20 addresses cashed out and left using a "rug pull" method, involving approximately $120,000. Although the Solana Foundation subsequently assisted in freezing some of the funds involved through on-chain tracking, such incidents still expose serious deficiencies in investor protection mechanisms in the memecoin market.
The future of memecoin: a frenzy or a bubble?
Currently, the memecoin market has formed a unique "celebrity-community-platform" triangular ecosystem. On the one hand, public figures like Trump continuously inject buzz into memecoin through their social media influence; on the other hand, the improved infrastructure of platforms like Solana and Bonk lowers the issuance threshold, while the viral spread on social platforms like Telegram and X accelerates token diffusion.
However, the sustainability of this ecosystem remains questionable. According to predictions from crypto analytics firm Messari, as institutional investors gradually enter the crypto market, memecoins, lacking real value, may face long-term pressure to revert to their intrinsic value. In the short term, however, driven by both social media traffic dividends and retail speculative demand, the memecoin market will remain active
For ordinary investors, participating in memecoin trading requires strict adherence to the "three no's": do not invest funds beyond your means, do not blindly believe promises of "guaranteed profits," and do not ignore abnormal fluctuations in on-chain data. As emphasized in this report, memecoin investment is inherently a high-risk speculative activity and should be approached with a "recreational mindset," rather than as a primary means of asset allocation.
The "$BIG" incident clearly demonstrates that the memecoin market is constantly caught in a storm of celebrity influence and speculative sentiment. As participants in the memecoin market, whether issuers or investors, it's crucial to maintain a clear understanding while chasing trends—memecoin's "meme" nature means its value is highly dependent on community sentiment, and the unpredictability of this sentiment is the core source of risk. In the future, as blockchain technology matures and regulatory frameworks improve, the memecoin market may move towards greater standardization. However, until then, "caution" remains the best approach for memecoin investment.
