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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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Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that your transfers and transactions are entirely at your own risk and you will be responsible for any losses you may suffer. The Daily Hodl does not recommend the purchase or sale of any cryptocurrency or digital asset, and The Daily Hodl is not investment advice. The Daily Hodl engages in affiliate marketing.

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