1. Core of the market: when 'asset vacuum' meets 'emotional volcano'
First, the conclusion: the so-called 'Spring Festival market' is essentially the result of traditional investment channels forming an 'asset vacuum' during the Spring Festival, colliding head-on with the repressed 'narrative impulse' and 'money-making enthusiasm' of the Chinese crypto community.
This Spring Festival, the A-shares market will be closed from February 15 (Sunday) to February 23 (Monday). This means that from the eve of the Spring Festival until the fifth day of the new year, for over a week, the primary legal investment channel for hundreds of millions of domestic stock investors will be completely closed. At the same time, year-end bonuses, red envelopes, and other funds will be concentrated, but the stock market and funds are 'closed', and this 'idle money' with a strong urge for appreciation urgently needs an outlet.
Under the 'vacuum', collective attention has turned to the year-round, flexible barrier, and recently skyrocketed crypto market, especially Meme coins.
II. Adding fuel to the fire: the carnival of Chinese Meme in the 'main arena'.
Just at this time, the crypto market is brewing a 'main arena' trend belonging to Chinese culture. This wave is the perfect fuel prepared for the 'Spring Festival market'.
How strong is this fire? Let's look at the data:
Sector rise: According to @Binance BiBi AI robot data, as of January 2026, the total market value of the entire Chinese Meme coin sector is approximately between 234 million USD and 278 million USD, with a 24-hour trading volume between 100 million USD and 316 million USD, among which #Binance Life is currently one of the higher market value coins.
Hot products emerge frequently: coins like ' #我踏馬來了 ' saw their market value quickly surpass 20 million USD, while coins like ' #老子 ' witnessed extreme cases of over 730-fold daily surges.
Ecosystem formation: from ' #币安人生 ' (market value once about 150 million USD) to ' #哈基米 ', and then to various dialect philosophical meme coins, a rich ecosystem has already formed.
Why is it specifically Chinese Meme?
Because it solves the problems of 'what to play' and 'who is playing'.
Cultural resonance, entry with no threshold: compared to #狗狗 coins, #Pepe Frog, Chinese #Meme plays on phrases like 'I’m here', '#Life K-line', 'Hakimi' (cat cuteness meme) that are rooted in our daily online life. This sense of identity based on language and culture forms a 'moat' that is difficult for outsiders to replicate, and also allows for lightning-fast dissemination and consensus establishment.
Fair launch, the main stage for retail investors: many Chinese Meme projects emphasize 'no project party, zero pre-mining, fair launch'. (Fair, fair, and still fair) This precisely hits the hatred of retail players for 'whales manipulating the market', creating an atmosphere of 'wealth train, anyone can board'. When the A shares market is closed, the crypto circle becomes their main battlefield for practicing 'narrative democracy' and 'all-in philosophy'.
III. The 'three drivers' of the Spring Festival market.
When the 'asset vacuum' meets the 'Meme volcano', the Spring Festival market is ignited by three core forces working together:
Channel vacuum, funds are forced to 'migrate'.
The stock market closes, and the Hong Kong Stock Connect also suspends. Investors holding idle funds, accustomed to trading days, naturally turn their attention to 7×24 hour trading of cryptocurrencies. This is not just a fund overflow, but a forced migration of attention and trading habits.
Emotional resonance, FOMO reaches its peak.
'New year, new atmosphere, opening up for good luck' psychology is amplified during the Spring Festival. The native narrative of Chinese Meme coins perfectly matches this festival sentiment of 'seeking good luck' and 'seeking wealth'. Seeing the slogan 'let's go' in the community, combined with striking names like 'I’m here', easily triggers collective FOMO in friend groups and on social media.
Main arena narrative, community 'self-hype' to 'breaking out'.
During the Spring Festival, the discussion heat in the crypto community will not cool down, but rather become more active due to everyone's increased leisure time. Meme coins armed with Chinese memes naturally become social topics. The transmission chain from 'playing memes' to 'trading coins' to 'creating wealth myths' becomes extremely short, where a meme or a catchphrase can instantly ignite a new project, completing the explosion from community 'self-hype' to capital 'breaking out'.
IV. In conclusion: Opportunities fly alongside the sickle.
Understanding the logic of the 'Spring Festival market' is not to encourage mindless rushing, but to help you see the direction of the tide.
This is a short-term release of emotions: the market is driven by funds, emotions, and narratives, rather than fundamentals. It comes fiercely, but its retreat may also be equally swift.
Culture is both a moat and a limitation: the explosive power of Chinese Meme is built on cultural identity, which is both an advantage and may limit its global liquidity and long-term narrative space.
The eternal law: high volatility, high risk: the essence of Meme coins is extreme speculation. Behind those stories of a hundredfold returns in a day are more codes that go to zero. Participation can be lively, but remain clear-headed: what you are engaging in is not value investment, but a liquidity game based on consensus and emotions.
In summary, the 'Spring Festival market' in the crypto circle is a dramatic expression of extreme risk preference acted out by a group of the most restless funds and minds in their own cultural main arena, using the most familiar language system when the traditional financial market hits the pause button. Understanding this performance may be more important than participating in it.
