The market is crashing, Meme is fading, and the total market cap of Memecoins has shrunk to $31.9 billion . Take the recently hyped BSC Meme as an example—according to DeFILama data, although http://four.meme still ranks first by a wide margin in TVL / 7-day fees / 7-day revenue, the data has inevitably dipped slightly due to market conditions. However, here's the strange part: Flap has seen an explosive growth in 'token creation numbers' since 01.16, with a single-day peak of 9,644 tokens created on 01.30—more than 4 times the previous peak. Yet, the growth curve of 'internal trading volume' hasn't kept up, and TVL has noticeably declined since 01.29. This suggests that the surge in token creation hasn't effectively translated into real trading activity or capital inflow. As shown in the chart, while http://four.meme has fewer token creations, its trading volume is relatively decent and more reasonable (data source https://(dune.com)/fourmeme/four-vs-pump-90d). Curious—did Flap introduce some new gameplay or token creation incentive activities?