Original title: "Sotheby's Big Banana Market Value Breaks 10 Million, Has the Meme Sector Started to Play Art? | Today's Meme Angle Award"

Original Source: TechFlow

Editor's Note: The Meme market has fluctuated greatly recently. The projects mentioned in the article have low market value or great risks. Please do not participate blindly. This article is a reprinted content and does not contain any investment advice.

The Meme market on the weekend is not lonely either. In the past two days, the topic that the players on the chain who have been deeply involved may not be the various AI Memes, but a piece of art re-auctioned by Sotheby's - the big banana with tape.

On Friday night, a Meme $Ban with a banana art auctioned by Sotheby's as its target broke out from a group of AI themes and had a market value of nearly 20 million US dollars within 24 hours of its launch.

Is this a conspiracy or a new hype target chosen by the market? We have sorted out some information to help you quickly understand the journey of this magical banana.

Abstract artworks are back

In 2019, the tape + banana series created by Italian artist Cattelan was auctioned at Sotheby's. At that time, the banana named "Comedian" was sold for $120,000, which caused heated discussions on social media.

At the beginning, this abstract artistic behavior undoubtedly caused social ridicule, with the main themes of "stupid people with a lot of money" and "respect blessings". 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 Musk, the leader of the local dog, 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. This time the auction is estimated at between $1 million and $1.5 million (it seems that the art market has also been inflated).

The auction is very abstract, and the meme follows it

Sotheby’s vice president is the dealer?

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 the banana concept coin $Ban on the Solana chain. One of the front row holders 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 solidify the rationality of the "Sotheby's vice president personally sits on the board" meme.

At the time, the market value of $Ban was around $100,000. As soon as the news came out, $Ban immediately rose, reaching a maximum market value of around $7 million within an hour, with a maximum increase of nearly 70 times.

The vice president’s actions continued, and the price of the currency began to go on a roller coaster

The 70-fold increase in one hour caused laughter on the chain, but then the vice president’s series of actions caused the price of the currency to go up and down, and many early players had few chips left.

The deletion of tweets at the high point of the price of the currency led to a stampede

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 a little guilty or did not want to cause unnecessary influence, Michael Bouhanna deleted the tweet that announced his wallet address at the most lively stage 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 jokes about $Ban's banana.

Attending the Binance conference, changing the official avatar, is the price of the currency okay again?

After some trouble, the market's enthusiasm for the hype of the big banana gradually cooled. The price of the currency was mediocre the next night, but it did not go directly to zero.

During the day, the price of the currency once rose to its previous high, but it gradually fell back without any positive stimulus. It was not until around 8 o'clock in the evening that 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 changed its avatar to a picture with a tape 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 the time of writing, the highest market value of $Ban has reached 25 million US dollars.

The magic disk has appeared, and the banana concept angle is appreciated

Whether it is the market's top or the careful control of the banker, the market value of 25 million represents that the banana concept has been initially recognized by the market. In addition to the leading disk, there will be no shortage of imitation disks. What angles are currently being hyped for the banana concept? Shenchao made a small inventory according to the market value ranking.

Note: The price of Meme tokens fluctuates violently and there is a high risk. Investors should fully assess the risks and participate cautiously. This article only transfers and shares information based on market hotspots. The author and the platform do not make any guarantees on the completeness and accuracy of the content of the article. At the same time, this article does not provide any investment advice.

1.Comedian ($Ban) - The protagonist of this article, the concept leader

Contract address: 9PR7nCP9DpcUotnDPVLUBUZKu5WAYkwrCUx9wDnSpump

24 H trading volume: 33 million US dollars

Current market value: 21.6 million US dollars

Highest market value: 25 million US dollars

Concept protagonist Banana Comedian, token name $Ban

2.Comedian ($Pan) - "Tape + Pepe" concept, focusing on a stitch

Contract address: 9JLsnxCqZju5ymLhMkTW6acnUxgrARqz5NAR7Acdpump

24 H trading volume: 2.5 million US dollars

Current market value: 400,000 US dollars

Highest market value: 880,000 US dollars

As long as one target is popular, the stitching monster will arrive late. When $Ban was pulled up on Saturday night, the plate that used the Pepe + tape concept to get the heat was also directly filled at Pump. The angle was very strange, and the price performance looked a bit like a conspiracy group.

As of press time, the price has fallen sharply.

3.ANANAB ($ANANAB) - Role swap, tape wrapped

Contract address: HaqNyHMwCP1YGCYgjY7kJNVd6gv4mz1Y75A4xKVUpump

24 H trading volume: $880,000

Current market value: $110,000

Highest market value: $200,000

The opposite of 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 first hype of the tape banana in 2019, used to satirize those who hyped the banana.

4.Banana D ($Comedian) - Banana "real name" concept

Contract address: BpqXJMguKsS8azKaVy4tZ4Ysm2e2f2zygZKHx8VKGKBA

24 H trading volume: 1 million USD

Current market value: 90,000 USD

Highest market value: 250,000 USD

In contrast to Dragon One $Ban, this token uses the banana's real name 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.

5.Sotheby' ($Sothebys) - Sotheby's avatar change concept

Contract address: 83UCt6BueiwNE5NKtXyJ5SmRDWFWSzibLaxmV3xapump

24 H trading volume: $380,000

Current market value: $16,400

Highest market value: $110,000

The concept is simple and easy to understand, the angle of rubbing is relatively biased, and the price performance is also average. And GMGN.AI shows that the probability of running away is 100%, which is speculated to be Dev's hot spot water plate, for observation only, and it is not recommended to participate.

Summary

After a day of pulling up and washing up, the market value of $Ban has far exceeded the valuation of the auction of the artwork itself. This time, the "banana fever" has already had a certain trend, and various angles have also kept up in time. As for whether the subsequent heat will spread to Sotheby's/artwork concept or the banana itself or the president himself, we will wait and see.

But the violent washing 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 for profit are completely independent things. Every step of the game and execution requires huge energy, and the high-profit address is often because of "high enough increase" rather than "heavy position". Again, control your position and emotions, don't get too excited about Fomo, and your own opportunities will always be there.

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