Throughout 2024, Binance
$36.03B
The analyst Ai_9684xtpa noted that out of 15 memecoins launched on Binance in 2024, 12 experienced substantial value increases post-listing. Memecoins like Moo Deng (MOODENG) and Popcat (POPCAT) surged by over 395% and 223%, respectively, while Neiro (NEIRO) soared by 7,594%.
Despite the upward trend for most memecoins, not all tokens saw positive movement. Several others, such as Mog Coin (MOG) and Myro (MYRO), showed mild declines in value after their Binance debuts. For instance, MOG decreased by nearly 12%, while MYRO saw its price slide by more than 33%.
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A characteristic of the memecoins listed on Binance this year is that around 60% of these coins operate on the Solana blockchain. Meanwhile, Ethereum hosts around 26.7%, and the remainder is split between Binance’s BNB Smart Chain and the Base network. This points to Solana’s growing popularity as a platform for launching memecoins, potentially due to its scalability and lower transaction fees than other blockchains.
Furthermore, only five of the listed tokens are accessible for spot and futures trading, signaling Binance’s cautious stance on spot market exposure for these assets. The listing criteria seem to favor factors like community size and engagement over strict market capitalization requirements.
Binance’s 2024 listings have proven to drive value increases for many memecoins, reflecting a strong connection between exchange visibility and token popularity.
In other news, Trump’s victory has propelled Bitcoin to a record high of $80K, sparking speculation on whether the bull run could soon reach $100K.
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