Maji Brother's Token Launch Fails Miserably, Old Players Fail in New Trenches

Original ｜Odaily Planet Daily (@OdailyChina)

Author ｜Golem (@web3_golem)
As September begins, the on-chain Meme bull market continues. Binance has launched perpetual contract trading for Niu Lai and Marscoin, injecting confidence and imagination into the BSC Meme ecosystem. Robinhood Chain has now produced three Meme tokens with a market cap exceeding 100 million (CASHCAT, AI, and PONS), with the Pons and Long Meme token Launchpads becoming the engines of the Robinhood Chain Meme bull market. New narratives such as Meme stock pairing, Meme shorting Wall Street, and leveraged stock Meme are stirring the emotions of every Meme player...

As this round of Meme frenzy enters the "deep water zone," legendary figures from 2023 and 2024, the "big cuts," have also returned to join the Meme celebration.

Maji Brother's Token Launch "First Failure," Market Cap Peaked at Only $1.7 Million

A typical representative of the "returning big V," Maji Brother, has launched a token again.

On the evening of September 1, Maji Brother tweeted a post with a contract address on the X platform, pointing to a Meme token called "TAIWAN," which is paired with the stock token TSM (Taiwan Semiconductor Manufacturing Company). Subsequently, Maji posted on the fomo platform to promote this Meme token, stating, "The strongest stock on the Robinhood platform is AI, followed by $Taiwan." As of now, Maji has not claimed that his X account was hacked, so it is basically confirmed that it was Maji himself who launched the token.

Maji launched the token on Robinhood Chain.

Before officially launching the token, Maji stated that he would attempt to launch a token with "zero holdings," buying in the open market like users. According to Maji's public information on fomo, he bought a total of $7,636.24 of TAIWAN, averaging a purchase at a market cap of $769,000, with no sales, but it cannot be ruled out that Maji has a hidden address.

Maji's purchase operation on TAIWAN.

However, this method of launching a token with "zero holdings" and leveraging the Meme stock pairing narrative did not "move" Meme players. According to GMGN data, within one hour of Maji's post, TAIWAN's market cap peaked at $1.7 million, but then it fell all the way down, currently down to about $600,000, with only over a thousand holding addresses. Maji Brother has been cut.

As of the time of writing, there are only $200,000 in the TAIWAN liquidity pool, and the creator's fee income is only $4,784.28. This is not the first time Maji has raised money in the open market, but it is certainly the most disastrous one, which may indicate that Maji's influence has completely collapsed.

Maji was originally a rapper, debuting in 1992 and becoming popular in Taiwan. In 2017, Maji entered the blockchain industry, launching the blockchain project Mithril, focusing on the concept of "social mining." With the popularity he accumulated in the entertainment industry, Maji raised $51.6 million (about 60,000 ETH at the time) in the ICO of the project, marking his first fundraising in the crypto public market, but the project completely went to zero in 2022.

In 2020, during the DeFi Summer, Maji launched the lending protocol Cream Finance, but the protocol was attacked multiple times by hackers, resulting in heavy losses for users. In 2024, Maji launched a token on the Solana chain for the first time, introducing a token named after his dog, Boba Oppa ($BOBAOPPA), which raised over $40 million in SOL through pre-sale within 24 hours. However, the token price dropped over 70% that day, cutting everyone. (Related reading: Maji Brother's "Zeroing Out" Record)

In a recent instance, on August 27, Maji 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 less than $300,000 to over $6 million, increasing more than 20 times. Maji bought about $70,000 at an average market cap of $192,000, with a floating profit exceeding $1 million, but this time Maji did not "cut" anyone, claiming he would never sell.

However, no one believes him anymore; Maji has exhausted his credibility through repeated escapes.

The New Generation Pushes the Old Generation

Overall, it is not just Maji who has lost the ability to call out and lead in the early days; the influence of legendary figures returning to the chain this time is not what it used to be.

Him is one of the most well-known and active Solana Meme KOLs in 2024, especially possessing great calling ability during the AI Meme craze. Recently, a player directly transferred 40% of the chips of the Meme token COPPERINU on the Robinhood Chain to him, and he subsequently publicly took over the project. This Meme token's market cap peaked at $30 million but quickly fell; as of the time of writing, the market cap is only $8 million, and Him is still actively calling out.

In the Chinese-speaking region, thanks to the competition between Pump.fun and fomo in this round of Meme social trading trend, former legendary figures on the chain such as 0xSun, Wang Xiaoer, and Crypto D have also settled in Pump.fun.

Wang Xiaoer's calling ability remains intact; on August 31, he announced his purchase of the Meme token BONER, which subsequently saw its market cap rise to a peak of $90 million, although it has since retreated, it still maintains a market cap of around $54 million. However, the calling ability of other returning players has significantly diminished.

On the morning of September 2, 0xSun and Crypto D jointly entered the Meme token JOHNDOG, but as of the time of writing, this Meme token's market cap peaked at only $2.5 million, with a drastic reduction in calling ability. According to Pump.fun data, as of the time of writing, 0xSun has accumulated a net loss of about $16,400 since joining Pump.fun.

0xSun Pump.fun platform account

It can be seen that no one can forever stand at the center of the stage. The explosion of the fomo platform is also a significant feature of this round of Meme bull market; this round of social trading trend is driven by the fomo platform's continuous marketing to find new Meme users, and the new users may not be familiar with these former legendary figures on the chain, but prefer to follow the newly risen Meme traders with real trading disclosures.

The essence of Meme gameplay has not changed; under the social trading trend, people still believe in KOLs, but the new generation pushes the old generation, while the "old generation" is still struggling on the beach.

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.