Bull market is here — and so is the token issuer who didn't make any money
- Key Takeaways: The animated film "Bull Comes" (牛来) went viral unexpectedly, and its namesake Meme coin "牛来" on the BSC chain once reached a market cap of $46 million. However, the creator who mass-issued tokens did not profit from the main token. The real market maker may be someone else entirely, with market speculation and regulatory delisting forming an absurd contrast.
- Key Elements:
- "Bull Comes" grossed only 7,169 RMB in the 9 days before its theatrical release, but by August 17 had accumulated 13.33 million RMB. Maoyan predicts a final box office of 89.21 million RMB. Some regional theaters pulled the film due to concerns it "might harm the city's image."
- The same-named token "牛来" on the BSC chain peaked at a market cap of $46 million. On the day delisting rumors surfaced, it surged 139% in 24 hours, but by August 18 had fallen back over 22% — extremely volatile.
- The creator address launched two "牛来" tokens within 6 minutes, followed by "Bear Goes" (熊走) and "Stumble Style" (绊倒体), but showed no buy or sell records on the main 牛来 token, earning zero profit from it.
- When issuing the 4th token "绊倒体", the address bought 37.7% of the supply and sold it off in 12 transactions within 2 minutes, cashing out around $10,000+ — nearly all of its 30-day profits came from those 2 minutes.
- The creator wallet was only created on August 12, receiving 4.5 USD in gas fees and launching tokens just 6 minutes later — earlier than the movie's trending search. The entire operation was a pre-planned batch effort to ride the hype.
- The main 牛来 trading pool was created by a different address, linked to a professional liquidity provider that has processed 4,861 transactions. This address is still adding liquidity and collecting fees, with no fund flows to the creator address — suspected to be the real market maker.
- At launch, sniper bots grabbed 33.9% of the supply through bundled transactions, then dispersed it across dozens of addresses to simulate retail holdings. The risk of bots simultaneously dumping remains unknown.
Original Author: David,深潮 TechFlow
A few days ago, no one expected "Niu Lai" (Here Comes the Bull) to blow up like this.
This animated film, which had sold only 7,169 yuan in the 9 days before its release, had accumulated a box office of 13.33 million yuan by the evening of August 17. Maoyan predicts it could eventually reach 89.21 million. Some theaters in certain regions received notices to pull the film, citing "concerns about impacting the city's image." On the morning of August 17, even A-shares jumped on the bandwagon: Luoniu Mountain hit the daily limit up, and Jinniu Chemical rose over 6%.
The crypto community, of course, moved even faster.
The same-named token "Niu Lai" on the BSC chain hit a market cap of up to 46M (46 million USD). On August 17, when the delisting rumors were flooding social media, it surged 139% in 24 hours. (Though it has seen a significant pullback today.)
The Chinese-speaking crypto community hasn't seen such an absurd and fun meme in a long time. But don't FOMO. The token's creator might be just like you — they probably didn't make any money on Niu Lai either.
We dug through the on-chain data. Here are some observations and insights about Niu Lai's dev and its liquidity pools.
1. Batch-Launching Tokens, Only "Niu Lai" Took Off, Yet the Dev Didn't Make a Cent from It
On the morning of August 13, the dev address 0x6af3f52369c39f6ca2d9a50799723feff7ff679e launched two "Niu Lai" tokens within 6 minutes. Over the next 4 days, they also released "Xiong Zou" (Bear Goes Away) and "Ban Dao Ti" (Stumble).
The second Niu Lai became the main one. According to GMGN data, this address has no buys or sells on Niu Lai.
Looking at all 4 tokens together makes it clearer:
In other words, at first, he wasn't sure which Niu Lai would take off, or even if Niu Lai had any potential at all.
The first one launched 6 minutes earlier fizzled out, so he quickly launched a second. The one that survived now has a market cap hundreds of times larger than the other three combined, but its profits have nothing to do with him anymore.
2. It Was Only the Fourth Token, "Ban Dao Ti", That Made Money
At 11:18 AM on August 17, this address launched its 4th token, "Ban Dao Ti", corresponding to a meme from the movie Niu Lai.
Perhaps feeling he'd missed out on Niu Lai's success, in the same transaction as the token launch, he bought 377 million tokens himself, representing 37.7% of the total supply, for 2,180 USD.
90 seconds later, he started dumping like a paper hand. From 11:19 to 11:21, he made 12 consecutive sells within 2 minutes, quickly pocketing over 10,000 USD. Essentially, he used the opening excitement to dump on the first wave of buyers.
The funny part is that, as of writing, this address's total profit over the past 30 days comes almost entirely from those two minutes. As for "Xiong Zou" and the first "Niu Lai", he didn't touch them at all, and both tokens are already dead.
So, the Niu Lai craze was probably a genuine surprise to him.
His familiar way of making money is the "Ban Dao Ti" model: launch a token, take 37.7% for yourself, and use the opening excitement to dump on the first wave of entrants.
(Update on August 18: Since the author completed this article, the Niu Lai creator has launched "Niu Lai Le" and "Moo" (a meme seemingly imitating a cow's moo) after "Ban Dao Ti", making around 7,000 USD from each. To some extent, this further demonstrates that after missing out on the main Niu Lai token, he started ramping up his efforts...)
3. The Token Was Launched the Day Before the Movie Hit the Trending Topics
Digging into this address's history on GMGN reveals that the wallet was only created on August 12. Its first funds arrived at 11:47 AM on August 13: 0.0074 BNB, roughly 4.5 USD, just enough for gas.
The address that sent the gas, 0xb716776de8377f7de5f65e87320655327698fd42, was created on August 1, has no on-chain transaction history, and its sole purpose was to send gas to the dev.
Six minutes later, the first "Niu Lai" was launched. The movie hit the trending topics the next day.
Putting the timeline together:
August 12: Wallet created.
August 13, 11:47 AM: Received 4.5 USD in gas; 11:53 AM: Launched first Niu Lai; 11:59 AM: Launched second.
August 14: "9 days since release, box office 7,169 yuan" hits trending topics.
Early August 15: Launched "Xiong Zou".
Morning of August 17: Launched "Ban Dao Ti", cashing out over 10,000 USD in 2 minutes.
From wallet creation to token launch was less than 24 hours; from receiving gas to launching the token was only 6 minutes. The whole operation was pre-prepared, just waiting for a trigger.
Looking at the on-chain traces, this looks more like batch-launching a bunch of concept-riding tokens. 4 tokens in 4 days, all through the Flap one-click token launch platform (a token creation tool on BSC where you just fill in a name, costing a few dollars), without even bothering to change the template.
4. The Dev Might Just Be a Pawn; the One Really Cashing In Is Still at the Table
The main trading pool for Niu Lai wasn't created by this dev.
On-chain records show that in the early hours of August 15, address 0x1ab7727e8817402069dc0a2c7d6fc25e76bfc953 created the main USDT pool for Niu Lai, providing the initial liquidity themselves.
The address that funded it with gas was another address, 0x3a62262930534e493d7bf823608291f2544d0b01.
This second address is the real player: on-chain data shows 4,861 transactions, a professional liquidity provider. After creating the pool, they kept adding liquidity and collecting fees, still adding early on the 17th and authorizing Niu Lai as late as 2:30 PM that day.
They haven't left yet.
We immediately thought to check the connection between the dev address and these two pool-creation addresses, but after going through 33 transaction records, the dev has never sent a single cent to or from these two addresses. They are completely parallel.
A conspiratorial interpretation could be that the dev's job was to launch the token and light the fire, making their own quick buck. But the real market maker in this Niu Lai game is someone else, and they're still at the table. The one who lit the fire took away 10,000 USD, while the one who kept adding fuel guards a liquidity pool that peaked at 1.24 million USD.
It's also worth noting that at the moment Niu Lai opened, sniper bots grabbed 33.9% of the supply through bundled transactions. Subsequently, these tokens were broken up and transferred, scattered across dozens of addresses, each looking like a retail investor. At present, Niu Lai's overall holdings look quite distributed.
But this looks more like manufactured distribution. No one knows when this cluster of bot-held large positions will dump all at once.
Finally, a Surreal Reality Check
On August 16, cinemas in some regions received notices to pull "Niu Lai", citing "concerns about impacting the city's image." Rumors of a "nationwide halt on screenings" also spread widely.
Subsequently, the Niu Lai token was reinterpreted by crypto enthusiasts as a "narrative of resistance," surging 139% in 24 hours.
The more it's looked down upon, the more it rises.
In reality, Niu Lai's box office has already surpassed a number of well-produced films. "A Man and a Woman," directed by Guan Hu, starring Huang Bo and Ni Ni, with an investment of around 200 million yuan, stalled at a total box office of 3.85 million; "Silent Friend," starring Tony Leung, managed 5.2 million.
One netizen's summary hits hard: A man and a woman, not even worth a cow.
The more they try to stop it, the more people want to see it.
Whether or not the bull market comes, the attention driven by rebellion and curiosity has definitely arrived.
Risk Disclosure: This article is purely an observation of on-chain information and does not constitute investment advice. Meme coins are extremely volatile; Niu Lai can rise 139% in 24 hours and can also drop 22% in a single day (as it did on August 18). The identity of the token-launching address is unknown, and 33.9% of the supply is concentrated in addresses associated with sniper bots. Please be aware of the risks.
