After a 2000x increase from 114514, imitation coins and Pixiu tokens have spread across multiple chains.

Japanese-themed MEME coin 114514 (SOL) has recently gained popularity in the community, with a surge of over 2000 times on the 3rd, but behind this hype lies significant risk. GoPlus has issued a security alert pointing out that numerous fake tokens and Pixiu tokens with the same name have appeared on multiple public chains such as BSC and Base, aiming to trap followers. This is not an isolated case but a systemic risk currently facing the MEME coin ecosystem.

Why Fake Tokens and Pixiu Tokens Appear Frequently

The Price of 114514’s Popularity

The name 114514 originates from Japanese internet culture and has sparked a craze on the SOL chain as a MEME coin. When a coin skyrockets over 2000 times in a short period, it naturally attracts a lot of attention. But this attention also creates opportunities for scammers.

The logic of fake project creators is simple: leverage the fame and popularity of the original coin to quickly deploy identical or similar tokens on other chains. Ordinary users, eager to chase gains, can easily confuse contract addresses or chain origins, falling into traps.

The Hidden Harvest of Pixiu Tokens

Pixiu tokens are even more covert. These tokens often set asymmetric trading restrictions, allowing users to buy but not sell, or only the project team and certain addresses can sell. Once users buy in, their funds are locked, turning them into the project’s ATM.

According to the latest news, such risks have become common tactics in the MEME coin ecosystem. The HUNT incident exposed earlier by GoPlus is a typical case: an account claiming to be a PNUT developer attracted users with false profit stories, but in reality, it secretly issued multiple RUG pulls, harvesting $3.7 million within 8 days through a systematic network of addresses.

Why MEME Coins Are Particularly Prone to These Risks

How to Identify and Avoid Risks

Three Essential Checks Before Trading

• Verify the Contract Address: Obtain the genuine contract address from official channels (official website, official social media). Do not rely on search engines or third-party reports.
• Confirm the Blockchain Network: 114514 is on the SOL chain. If you want to trade on BSC or Base, it’s a fake token, and you should be especially cautious.
• Check Liquidity and Holder Distribution: Real projects usually have relatively dispersed holders, while Pixiu tokens tend to be concentrated in a few addresses.

Watch Out for These Signals

• Newly created contracts with no trading history
• Highly concentrated holders (a few addresses control most tokens)
• Very low liquidity in trading pairs
• Confusing or inconsistent official community information
• Promises of high returns or follow-the-leader schemes

Summary

The popularity of 114514 itself is not the problem; the issue is that scammers are exploiting this hype through fake tokens and Pixiu tokens to systematically harvest. GoPlus’s alert reminds us that the current MEME coin ecosystem faces high risks. Not only should we be wary of fake tokens, but we also need to understand the operational logic of hidden traps like Pixiu tokens.

For users, the most effective protection is to do thorough research before trading: verify the contract address, confirm the chain’s origin, and review basic project information. These seemingly tedious steps can often prevent funds from being lost. In the high-risk world of MEME coins, caution is always the top priority.