As of mid-January, a major exchange's Renrenbi remains the only officially listed Chinese Meme for spot trading (listed on January 7th, with a peak market cap exceeding 500 million, currently stable in the 200 million+ range). The Alpha track has become the frontline for Chinese Meme to enter spot trading, with many new contenders emerging recently: "I’m Coming" (first launched on Alpha on January 8th, peak market cap over 52 million, now adjusted to around 36 million), "Renren K-line" (recently launched on Alpha, gaining attention from CCTV.com and industry executives, once surpassing 40 million in market cap, now in a consolidation phase), Snowball, Laozi, and other participants.

In the competition for the "second Chinese Meme for spot trading," "I’m Coming" has the greatest chance. As the new Chinese Meme leader rushing into Alpha after "Renren," its rough and straightforward expression style hits the market's emotional pain points—over 800% increase in 24 hours, with trading depth and liquidity ranking top among peers. The community atmosphere is filled with FOMO, and Alpha performance is quite robust (despite some retracements, the wealth effect has been validated). From an operational perspective, a major exchange needs to maintain the heat of Chinese Memes; launching "I’m Coming" after "Renren" is a natural move. Whether in contracts or spot trading, it has the best chance to become the second wave breaker. In recent months, the BSC Foundation has frequently invested in Chinese Meme projects, signaling a clear intention.

"Renren K-line" follows a different, more differentiated path. The narrative framework of metaphysics + AI + prediction markets has a unique charm. Reports from CCTV and Guangming Daily, along with interactions from top industry figures, keep its community heat high. After undergoing shakeouts and retracements, it finally launched on Alpha, fitting the classic "accumulate and then surge" pattern. If a major exchange wants to emphasize "cultural depth" rather than just "emotion-driven," the "K-line" narrative is clearly more story-rich, and the chance of a second wave entering spot trading is quite high.

Others like Laozi and Snowball also have potential, but still lack some community consensus and traffic momentum. Ultimately, whether a Chinese Meme can enter spot trading depends on several factors: platform endorsement, Alpha performance, market sentiment consensus, and whether new topics can be found. In the short term, if industry leaders interact again or incentive mechanisms further heat up, "I’m Coming" is most likely to replicate the success path of "Renren" and become the second player in the spot track. But in reality, Meme coins are fundamentally a game of emotions; everything depends on traffic trends and top-level decisions. Investment must be cautious; risks are always the top priority.