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Home»ALTCOIN NEWS»Memecoin explodes by 2,224% after Binance announces surprise listing
ALTCOIN NEWS

Memecoin explodes by 2,224% after Binance announces surprise listing

By Crypto FlexsNovember 11, 20242 Mins Read
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Memecoin explodes by 2,224% after Binance announces surprise listing
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Two Solana (SOL)-based memecoins are going parabolic after receiving sudden support from Binance, the world’s largest cryptocurrency exchange.

Binance announced spot trading support for Act I: The AI ​​​​Prophecy (ACT), resulting in an explosive increase of over 2,224% on Monday morning.

ACT is trading at $0.486 at the time of this writing, up from its 24-hour low of $0.0191. With a market capitalization of $456 million, ACT is already the 183rd largest cryptocurrency project.

The exchange also announced the listing of memecoin Peanut Squirrel (PNUT), a Solana-based coin. PNUT is trading at $0.39 at the time of this writing, with a market capitalization of $390.7 million, up 320.8% in the last 24 hours.

Binance is applying seed tags to ACT and PNUT, which apply to low-liquid projects that may exhibit higher volatility compared to other listed tokens. The exchange requires users who own assets with seed tags to pass a quiz every 90 days to ensure they are aware of the risks before trading the tokens.

According to anonymous on-chain analyst Ai_9684xtpa, Binance has listed 15 different memecoin projects since early 2024, with 80% of the tokens seeing significant gains since listing.

Last week, Binance listed monkey-themed PONKE, a memecoin that is up more than 5,000% this year. Last September, Binance announced spot trading support for First Neiro (NEIRO), sparking a rally of over 965% in a matter of hours.

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