麻吉大哥发币惨败，老车头在新战壕集体失灵
- Core Thesis: As the on-chain Meme craze enters deeper waters, the on-chain legends of 2023 and 2024 are making their comebacks, but most have seen their call-out influence wane significantly. Machi Big Brother's "zero-holding" token launch failure is a prime example, indicating that users now prefer to follow new-gen traders who disclose their real positions.
- Key Elements:
- Machi launched the token TAIWAN, which peaked at a market cap of just $1.7 million and has since dropped to around $600,000. With over 1,000 holding addresses, a liquidity pool of only $200,000, and creator fees of just $4,784, it stands as his worst token launch to date.
- Machi's track record includes: raising $51.6 million in the 2017 Mithril 1CO only to see it go to zero by 2022, Cream Finance suffering multiple attacks in 2020, and the Solana presale Boba Oppa in 2024 raising over $40 million before the token price dropped 70%. His credibility is already exhausted.
- Him, a well-known Solana AI Meme KOL in 2024, accepted 40% of the COPPERINU supply; the market cap subsequently fell from $30 million to $8 million, yet he continues to actively shill with diminishing effect.
- Wang Xiaoer's call-out track record remains relatively stable. After buying BONER on August 31, the market cap peaked at $90 million and now holds around $54 million.
- 0xSun and Crypto D jointly entered JOHNDOG, which peaked at just $2.5 million in market cap. Since 0xSun joined Pump.fun, cumulative net losses stand at approximately $16,400, marking a clear decline in his ability to lead trades.
Original by Odaily Planet Daily (@OdailyChina)
Author: Golem (@web3_golem)
Entering September, the on-chain Meme bull market continues. Binance has launched perpetual contracts for Niu Lai and Marscoin, injecting confidence and imagination into the BSC Meme ecosystem. Robinhood Chain has already produced three Meme coins with market caps exceeding $100 million (CASHCAT, AI, and PONS), with the two Meme launchpads, Pons and Long, acting as engines for the Robinhood Chain Meme bull run. New narratives such as stock-paired Meme coins, Meme short squeezes against Wall Street, and leveraged stock Memes are stirring the emotions of every Meme player...
As this Meme craze enters "deeper waters," the on-chain legends and "big dumpers" from 2023 and 2024 are also making their comebacks, joining this Meme carnival.
Machi Big Brother's First "Loss" in Token Launch, Market Cap Peaks at Only $1.7 Million
A typical representative among the "returning big names," Machi Big Brother, has launched another token.
On the evening of September 1st, Machi Big Brother posted a tweet on X with a contract address pointing to a Meme coin named "TAIWAN." This Meme coin is paired with the stock token TSM (Taiwan Semiconductor Manufacturing Company). Subsequently, Machi posted on the fomo platform to promote the Meme coin, claiming, "The strongest performing stock on Robinhood is AI, followed by $Taiwan." As of now, Machi has not claimed his X account was hacked, so it's essentially confirmed that Machi himself launched the token.
Machi launching a token on Robinhood Chain
Before the official token launch, Machi stated he would attempt a "zero-holding" launch for the first time, buying on the open market just like users. According to Machi's public information on fomo, he bought a total of $7,636.24 worth of TAIWAN, with an average buy price at a market cap of $769,000. He has not sold, though the possibility of Machi holding a "rat warehouse" address cannot be ruled out.
Machi's buy operations on TAIWAN
However, this "zero-holding" launch method and riding the stock-paired Meme narrative failed to "move" Meme players. According to GMGN data, within 1 hour of Machi's post, TAIWAN's market cap peaked at $1.7 million, then began a continuous decline. Its current market cap has fallen to around $600,000, with only slightly over a thousand holding addresses. Machi Big Brother has essentially been rugged this time.
As of press time, TAIWAN's liquidity pool only holds $200,000, and creator fees amount to just $4,784.28. This isn't Machi's first time raising funds in the public market, but it's certainly his worst, potentially signaling the complete collapse of his influence.
Machi was originally a rapper, debuting in 1992 and enjoying great popularity in Taiwan. In 2017, Machi entered the blockchain industry, launching the blockchain project Mithril, which focused on the concept of "social mining." Leveraging his popularity from the entertainment industry, Machi raised a total of $51.6 million (approximately 60,000 ETH at the time) during the project's ICO. This was Machi's first fundraising in the crypto public market, but the project went to zero in 2022.
In 2020, during DeFi Summer, Machi launched the lending protocol Cream Finance, but the protocol was attacked multiple times by hackers, causing heavy losses for users. In 2024, Machi launched his first token on the Solana chain, debuting Boba Oppa ($BOBAOPPA), named after his beloved dog. He raised over $40 million worth of SOL through a presale within 24 hours, but the token price plummeted over 70% that very day, dumping on everyone. (Related reading: The Story of Machi Big Brother's "Rug to Zero")
Most recently, on August 27th, Machi posted on the fomo platform stating his intention to acquire Friend.tech for $1 million. After the news spread, Friend.tech's market cap surged from under $300,000 to over $6 million, a gain of more than 20x. Machi bought approximately $70,000 worth at an average market cap of $192,000, with unrealized profits exceeding $1 million at the peak. But this time, Machi didn't "dump" on anyone, claiming he would never sell.
However, nobody believes him anymore. Machi has exhausted his credibility through repeated escapades.
The Waves Behind Drive the Waves Ahead
Overall, Machi isn't the only one who has lost his former promotional and signal-calling ability. The influence of returning on-chain legends from earlier years has all diminished compared to their prime.
Him was one of the most well-known and active Solana Meme KOLs in 2024, possessing significant promotional power, especially during the AI Meme craze. Recently, a player sent Him 40% of the supply of the Meme coin COPPERINU on Robinhood Chain directly, and he subsequently publicly took over the project. The Meme coin's market cap peaked at $30 million but quickly declined. As of press time, the market cap is only $8 million, and Him is still actively promoting it.
In the Chinese-speaking community, thanks to the competition between Pump.fun and fomo platforms in this round of Meme social trading trend, former on-chain legends like 0xSun, Wang Xiao'er, and Crypto D have all joined Pump.fun (Odaily note: It is currently unknown whether they received Pump.fun signing fees).
Wang Xiao'er's promotional ability remains intact. On August 31st, he posted that he had bought the Meme coin BONER, whose market cap subsequently surged to a peak of $90 million. Although it has pulled back since, the market cap remains around $54 million. However, other returning leaders have seen their signal-calling ability significantly weakened.
On the morning of September 2nd, 0xSun and Crypto D jointly bought into the Meme coin JOHNDOG, but as of press time, the Meme coin's market cap peaked at only $2.5 million—a cliff-like decline in their influence. According to Pump.fun data, as of press time, 0xSun has accumulated net losses of approximately $16,400 since joining Pump.fun.
0xSun's Pump.fun platform account
Clearly, no one can remain at center stage forever. The explosion of the fomo platform is also a major characteristic of this Meme bull run. This round of social trading trend is fundamentally driven by the fomo platform continuously marketing outward to find incremental Meme users. New users may not know these former on-chain legends and instead prefer to follow the newly emerged Meme traders who disclose their actual positions.
The essence of Meme gameplay hasn't changed. Under the social trading trend, people still trust KOLs—it's just that the waves behind drive the waves ahead, while the "front waves" are still struggling on the shore.
Recommended reading:
No Time to Wait On-Chain—Which Robinhood Chain Tokens Offer a Second Entry Opportunity?
Platform Earning Nearly $1M Daily—How Much Longer Can PONS, Up 5x in a Week, Keep Surging?
