Cryptocurrency exchange Binance has significantly increased the prices of most memecoins listed on its platform in 2024.
On November 11, anonymous on-chain analyst Ai_9684xtpa posted on
Memecoins such as Moo deng (MOODENG), Dogwifhat (WIF), and Popcat (POPCAT) have seen their prices rise by more than 200% since their Binance listing, while the Neiro (NEIRO) memecoin has gained nearly 7,600% since its launch.
Memecoin listed on Binance in 2024. source: AI
Most of the listed tokens have increased in price, but some have decreased. Mog Coin (MOG), Myro (MYRO), and Book of Meme (BOME) all saw slight declines after listing on Binance.
MYRO fell 33.3% in price, while MOG and BOME fell 11.8% and 1.28%, respectively.
The most listed memecoins are on the Solana blockchain.
The on-chain analyst also stated that 60% of Memecoins listed on Binance in 2024 will be based on the Solana blockchain. Another 26.7% was on Ethereum, with the remainder distributed across Binance’s BNB smart chain and native network.
Of the memecoins listed, only five are available for spot and futures trading. The analyst said Binance is relatively cautious about spot listings.
Based on the data, the analyst concluded that Binance does not appear to have a market cap requirement for listing memecoins. The common denominator may be popularity and community.
relevant: FTX Bankruptcy Foundation files $1.8 billion lawsuit against Binance and CZ
Trump Memecoin falls after winning presidential election
While the cryptocurrency market continues to rise, Donald Trump-themed memecoins seem to have lost their appeal.
On November 7, Trump-themed memecoins plummeted after the president-elect won the US presidential election. The MAGA (TRUMP) token plummeted 53% on November 7, while the MAGA Hat (MAGA) memecoin fell 55%. The value of other Trump memecoins decreased from 50% to 75%.
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