The "Shen Teng" concept coin is back. Can it replicate the rhythm of last year's Spring Festival Gala?

Author: Qin Xiaofeng

Source: Odaily Planet Daily

Actor Shen Teng probably never expected that one day his name would be associated with a crypto meme project, giving rise to a brand new sector—"Shen Teng" Spring Festival Gala concept coin.

During last year's CCTV Spring Festival Gala, Shen Teng's phrase "DogeKing" caused a meme project of the same name to skyrocket 800 times overnight, making headlines on social media. Now, as the Spring Festival Gala approaches, the "Shen Teng" concept coin is making a comeback.

According to the list released by the CCTV Spring Festival Gala program team, the skit performed by Shen Teng's team in 2023 is titled "Keng." In the past few days, a series of meme projects named "keng" have emerged, mainly concentrated on the BSC chain.

According to ave.ai data, there are currently over 50 "keng" named projects. Some more refined projects add a "Shen Teng" avatar to their tokens, create their own Twitter and Discord; the vast majority use the default BSC avatar, have no social media presence, and adopt a "willing to take the bait" strategy.

From the trading situation of the projects, one project has the most holders with 1.017 million addresses, liquidity close to $50,000, a maximum increase of nearly 30 times, and a trading volume of $3.38 million in the past 24 hours; other projects generally have holder addresses ranging from dozens to thousands, with trading volumes below $10,000.

To help some friends with less standard Mandarin "accurately enter the pit," some organizers have "thoughtfully" created a meme project named "ken," but its trading volume is only a few hundred dollars, with fewer than 100 holders, essentially for self-entertainment.

In addition, there is a project based on an image of Shen Teng lying down, creating the "tangping" (lying flat) project, which uses airdrops to attract people into the community for marketing on social media. According to ave.ai data, the project with the most holders in "tangping" has reached 301,000, with liquidity of $18,000, a 24-hour trading volume of $184,000, and a maximum increase of nearly 15 times.

After "tangping" became popular, a group of meme projects under the name "fendou" (struggle) emerged, with the most popular project currently having 1.154 million holders, a maximum increase of nearly 20 times, and a 24-hour trading volume of $1.52 million.

The rise of a series of "Shen Teng" concept coins has also impacted this year's various zodiac concept coins featuring rabbits, which have seen a noticeable decline in popularity, to the point of being ignored.

Odaily Planet Daily observes that the trading enthusiasm for "Shen Teng" concept coins among crypto investors continues to rise, with the slogan "Surpass 'DogeKing' by 800 times" resonating across major communities. Some people adopt a "broad net + small investment for big returns" strategy, investing 10 USDT in each project (claiming to be the 10 U War God) in hopes of achieving excess returns.

However, from the market trends, some concept coins have already begun to harvest users, with today's declines generally exceeding 50%.

ChainCatcher kindly reminds you to invest cautiously and avoid impulsive decisions!