After Binance founder Changpeng Zhao clarified his tweets were "not an endorsement" and should not be interpreted as trading signals, the BNB chain's meme token plummeted 60%-95% within 24 hours. The sell-off drained liquidity on the PancakeSwap platform, causing some market capitalizations to plummet by over 95%. This reversed Tuesday's frenzy, which had seen over 100,000 traders participate, pushing BNB chain DEX trading volume to $30 billion in the first nine days of October and pushing the price of BNB to a record high of $1,350 before ultimately closing at $1,270.