Most Memecoins Soar After Binance Listing in 2024
The Neiro memecoins soared nearly 7,600% following its listing on the Binance exchange.
Those registered on the cryptocurrency exchange Binance experienced notable price gains in 2024.
Twelve of the 15 coins listed by Binance in 2024 witnessed notable price rises after going live on the exchange, according to a post made on X on November 11 by pseudonymous onchain expert Ai_9684xtpa.
Following their Binance listing, the values of these coins such as Moo Deng (MOODENG), Dogwifhat, and Popcat (POPCAT) increased by more than 200%.
The Neiro (NEIRO) saw a nearly 7,600% increase in value after going live on the platform.
Some of the mentioned tokens had price decreases, but many saw price increases.
Following their Binance listings, Mog Coin and Book of Meme both displayed a minor decline in value.
MOG and BOME saw price declines of 11.78% and 1.28%, respectively, while MYRO saw a 33.25% price decline.
The Solana blockchain served as the foundation for 60% of the coins listed on Binance in 2024, the onchain analyst added.
The remaining portion was divided between the Base network and Binance’s BNB Smart Chain, with an additional 26.7% on Ethereum.
Only five of the coins listed on the platform are traded in spot and futures.
According to the onchain researcher, Binance is comparatively conservative when it comes to spot listings.
The onchain researcher came to the conclusion that Binance does not appear to have a market value criterion for a memecoin listing based on the data.
Nonetheless, the researcher claimed that the memecoins’ communities and level of popularity are common factors.
Donald Trump themes appear to have lost their attractiveness, even though the cryptocurrency industry is still rising.
Following the president-elect’s victory in the US presidential election on November 7, Trump-themed memecoins crashed.
On November 7, the MAGA Hat (MAGA) fell 55%, while the MAGA (TRUMP) token plummeted 53%.
The value of other Trump coins dropped from 50% to 75%.
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