The meme market was not lonely during the weekend. In the past two days, the topic that the players on the chain who have been deeply involved in the market have paid close attention to may not be various AI memes, but a piece of art re-auctioned by Sotheby's - the big banana with tape.
On Friday night, a meme called $Ban, which was based on a banana artwork auctioned at Sotheby's, stood out from a crowd of AI themes and had a market value of nearly $20 million within 24 hours of its launch.
Is this a whim of the conspiracy group or a new hype target chosen by the market? We have sorted out some information to help you quickly understand the journey of this magic banana.
Abstract artworks are back
In 2019, the Tape + Banana series of works created by Italian artist Cattelan was auctioned at Sotheby's. At that time, the banana named "Comedian" was sold for US$120,000, which caused heated discussions on social media.
At first, this abstract art behavior undoubtedly caused public ridicule, with comments such as "stupid people with lots of money" and "respect blessings" being the main themes. Later, everyone was happy to use this banana as a trendy art meme. After all, it doesn't cost much to just reproduce this artwork. A piece of tape + a banana can reproduce $120,000 worth of happiness. Even the dog leader Musk was playing with this banana meme at the time:
Recently, Sotheby's announced that it would re-auction one of the three "versions" of this work, with an estimated price of between US$1 million and US$1.5 million (it seems that the art market has also experienced inflation).
Auctions are abstract, and memes follow suit
Sotheby’s vice president is the banker?
So how did this banana spread to the meme market? According to my initial impression, around 11pm on Friday, a chain hunter prompted GMGN.AI to show that one of the top holders of the banana concept coin $Ban on the Solana chain was Michael Bouhanna (@michaelbouhanna), vice president of Sotheby’s, who held 3.78% of the total.
Earlier that day, the vice president personally tweeted to promote the banana, saying, "For me, this is the most important work of the 21st century." In addition, he had previously released his wallet address, which seemed to further confirm the legitimacy of the "Sotheby's vice president personally acting as the dealer Meme" line.
At that time, the market value of $Ban was around 100,000 US dollars. As soon as the news came out, $Ban immediately rose. Within an hour, the market value reached a maximum of around 7 million US dollars, with the maximum increase of nearly 70 times.
The vice president's actions continued, and the price of the currency began to go up and down
The crazy banana that increased 70 times in one hour made the chain full of laughter and joy, but afterwards the vice president's series of bold actions caused the price of the currency to go up and down, and many early players were left with few chips.
The deletion of the push at the high point of the coin price led to a stampede and escape
In order to further prove the reliability of the story, a Twitter user asked Michael Bouhanna on Twitter whether the relevant address was his. Perhaps because he felt guilty or did not want to cause unnecessary impact, Michael Bouhanna deleted the tweet that announced his wallet address at the height of the hype.
$Ban immediately began to fall in a stampede, with its market value falling from $7 million to around $400,000. Not many people knew about it when it was rising, but when it started to fall, the screen was full of $Ban's banana jokes.
Participating in the Binance Conference and changing the official profile picture, is the price of the currency okay again?
After all the trouble, the market's enthusiasm for the Big Banana speculation gradually cooled down. The price of the currency remained flat overnight, but it did not go directly to zero.
During the day, the price of the currency once rose to its previous high, but without any positive stimulus, it gradually fell back. At around 8 pm, Vice President Michael Bouhanna announced on Twitter that he would attend the Binance Conference as a senior executive of Sotheby's. At the same time, people also found that the official account of Sotheby's company changed its profile picture to a picture with a tape-and-banana element.
Stimulated by this series of actions, the price of $Ban came back to life on Saturday night. Perhaps the dealer sucked up enough chips with this pull and wash, or the market's renewed confidence in the Tape Banana further refined the consensus. This time, the price of $Ban rose again and continued to break through the previous high.
As of writing, $Ban’s peak market cap has reached $25 million.
The magic plate has appeared, the banana concept angle appreciation
Regardless of whether it is the market's top or the careful manipulation of the banker, the 25 million market value represents that the banana concept has been initially recognized by the market. In addition to the leading stocks, there will be no shortage of imitators. What angles are currently being hyped about the banana concept? Shenchao made a small inventory according to the market value ranking.
Note: Meme token prices fluctuate drastically and there is a high risk. Investors should fully assess the risks and participate with caution. This article only shares information based on market hotspots. The author and the platform do not guarantee the completeness and accuracy of the content of the article. At the same time, this article does not contain any investment advice.
Comedian ($Ban) - The protagonist of this article, the concept leader
Contract address: 9PR7nCP9DpcUotnDPVLUBUZKu5WAYkwrCUx9wDnSpump
24H trading volume: $33 million
Current market value: $21.6 million
Peak market value: $25 million
The concept protagonist is Banana Comedian, and the token name is $Ban.
Comedian ($Pan) - "Tape + Pepe" concept, featuring a stitching
Contract address: 9JLsnxCqZju5ymLhMkTW6acnUxgrARqz5NAR7Acdpump
24H trading volume: $2.5 million
Current market value: $400,000
Maximum market value: $880,000
As long as one target is popular, the stitching monster will arrive late. When $Ban rose on Saturday night, the plate that used the Pepe + tape concept to take advantage of the heat was also directly filled at the Pump. The angle was very strange, and the price performance had a strong taste of the conspiracy group.
As of press time, prices have fallen sharply.
ANANAB ($ANANAB) - Role-reversal, tape-wrapped
Contract address: HaqNyHMwCP1YGCYgjY7kJNVd6gv4mz1Y75A4xKVUpump
24H trading volume: $880,000
Current market value: $110,000
Maximum market value: $200,000
Contrary to the concept of the banana on the wall, the person wrapped in tape on the wall in the picture is a person, and the observer is a banana. The picture should have come from the time when the tape banana was first hyped in 19, and was used to satirize the people who hyped the banana.
Banana D ($Comedian) - The concept of banana's "real name"
Contract address: BpqXJMguKsS8azKaVy4tZ4Ysm2e2f2zygZKHx8VKGKBA
24H trading volume: 1 million USD
Current market value: $90,000
Maximum market value: $250,000
In contrast to Longyi$Ban, this token uses the real name of banana, Comedian, as the token symbol. The angle seems correct, but judging from the price performance, it seems that players are not very willing to buy it.
Sotheby' ($Sothebys) - Sotheby's concept of changing the head
Contract address: 83UCt6BueiwNE5NKtXyJ5SmRDWFWSzibLaxmV3xapump
24H trading volume: $380,000
Current market value: $16,400
Peak market value: $110,000
The concept is simple and easy to understand, the angle of the rip-off is biased, and the price performance is average. And GMGN.AI shows that the probability of running away is 100%, which is speculated to be a hot spot for Dev to rip-off. It is for observation only and is not recommended to participate.
summary
After a day of ups and downs, the market value of $Ban has far exceeded the valuation of the artwork itself at auction. This time, the "banana fever" has already shown a certain trend, and various angles have also kept up with it in a timely manner. As for whether the subsequent heat will spread to Sotheby's/artwork concept, banana itself, or the president himself, we will wait and see.
However, the violent wash of $Ban in the early stage also shows that in the face of an increasingly "smart" market, stepping on the golden dog, holding the golden dog, and successfully selling the golden dog with profit are completely independent things. Every step of the game and execution requires a huge amount of energy, and the high-profit addresses are often because of "high enough increase" rather than "heavy positions". Again, control your positions and emotions, don't get too excited about Fomo, and your own opportunities will always be there.
