As a seasoned researcher with a keen eye for market trends and a knack for deciphering the intricacies of the cryptocurrency world, I find the recent developments in Binance’s memecoin listings quite fascinating. The rapid price surges experienced by several of these tokens after their listing on the platform is reminiscent of the wild west days of Bitcoin and Ethereum’s early growth spurts.
In 2024, several meme-based cryptocurrencies listed on the Binance exchange experienced notable price surges.
On November 11th, an anonymous on-chain analyst known as Ai_9684xtpa shared some intriguing insights on their platform. They pointed out that out of the 15 memecoins listed by Binance in 2024, a dozen of them experienced substantial growth in value following their launch on the exchange, speaking from my personal experience as a crypto investor.
Various meme coins such as Moo Deng (MOODENG), Dogwifhat (WIF), and Popcat (POPCAT) experienced significant price increases exceeding 200% following their listing on Binance. Remarkably, the Neiro (NEIRO) memecoin skyrocketed by nearly 7,600% after its debut on the exchange.
Among the tokens listed, some noticed a rise in prices, but Mog Coin (MOG), Myro (MYRO), and Book of Meme (BOME) experienced minor decreases following their listing on Binance.
MYRO saw a significant drop in its price by 33.25%, compared to MOG and BOME which decreased by 11.78% and 1.28% respectively.
Most listed memecoins are on Solana blockchain
As an analyst, I’ve noticed an interesting trend: In 2024, approximately 60% of the memecoins listed on Binance were built on the Solana blockchain. A significant portion, about 26.7%, were based on Ethereum, while the rest were distributed between Binance Smart Chain and the Base network.
Out of the memecoins offered on this platform, just five can be traded both immediately (spot) and through future contracts. An on-chain analyst suggests that Binance tends to approach spot coin listings with a degree of caution.
According to the analysis of available data, it appears that Binance doesn’t seem to impose a specific market value condition when listing memecoins. Nevertheless, what these memecoins tend to share in common is their widespread popularity and vibrant online communities.
Trump memecoins drop after election win
As a researcher, I’ve noticed an interesting shift in the crypto market lately. Despite the overall growth, coins themed around Donald Trump appear to have waned in popularity.
On November 7th, I observed a significant decline in the value of Trump-themed memecoins following the president-elect’s victory in the U.S. presidential election. The MAGA (TRUMP) token plummeted by approximately 53%, while the MAGA Hat (MAGA) memecoin fell by about 55%. Other Trump-themed memecoins experienced a decrease in value ranging from 50% to 75%.
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2024-11-11 14:29