Be wary of Biaoqing, the largest memecoin in China!

Since its launch on the Ethereum blockchain on June 9, Biaoqing ($BIAO) has experienced significant price growth.

Within less than a day, its market cap surged from a few thousand dollars to over $6 million, drawing attention in the cryptocurrency sector.

On June 20, Biaoqing reached a peak price of $0.050, nearly ten times its initial price of $0.006. As of the completion of this article, the price of Biaoqing has retreated to $0.026, with a market cap of $25 million.

It appears that the team behind Biaoqing has substantial plans for the project.

They have already listed it on the largest cryptocurrency data aggregator, CoinMarketCap, and are engaging in various marketing strategies: billboards in the busiest locations globally, trending on platforms like X, Telegram, dextools, partnerships with crypto influencers and hedge funds, and many other initiatives.

What is Biaoqing?

Biaoqing is inspired by a popular Chinese facial expression meme.

Similar to Dogecoin and other meme coins, Biaoqing aims to capture the dominant role that emojis play in Western communication.

By filling the meme gap in the Eastern crypto market and leveraging the high traffic generated by its panda face meme concept, Biaoqing has seen rapid price increases since its launch.

Concerns About Biaoqing's Security

It is worth noting that Biaoqing is currently only listed on BitMart and Bitget, exchanges known for less stringent listing requirements, which does not guarantee the project's security.

The team behind Biaoqing remains unclear, and the project's transparency is very low, with its sudden appearance raising concerns about its legitimacy.

Coinlive's Investment Advice

Coinlive advises users not to invest in Biaoqing.

Despite its originality and the potential gap it fills in the meme coin market, its sudden emergence and lack of background information make it a risky investment.

Coinlive urges users to manage their expectations, avoid revenge investing due to missing out on early investments in coins like Dogecoin and Shiba Inu, and to remain cautious and observant without rushing into the market.