Cointelegraph by Ezra Reguerra
The cryptocurrency exchange Binance saw significant price increases for several memecoins listed on its platform in 2024.
On Nov. 11, pseudonymous onchain analyst Ai_9684xtpa posted on X that among the 15 memecoins listed by Binance in 2024, 12 saw significant increases in value after going live on the exchange.
Memecoins like Moo deng (MOODENG), Dogwifhat (WIF) and Popcat (POPCAT) saw prices appreciate over 200% after their Binance listing, with the Neiro (NEIRO) memecoin pumping by almost 7,600% after going live on the exchange.
Memecoins listed on Binance in 2024. Source: Ai
While many of the listed tokens saw price increases, some experienced declines. Mog Coin (MOG), Myro (MYRO) and Book of Meme (BOME) all showed slight depreciation after their Binance listings.
MYRO experienced a 33.25% price decrease, while MOG and BOME decreased by 11.78% and 1.28%, respectively.
Most listed memecoins are on Solana blockchain
The onchain analyst also highlighted that 60% of the memecoins listed on Binance in 2024 were based on the Solana blockchain. Another 26.7% were on Ethereum, with the remainder split between Binance’s BNB Smart Chain and the Base network.
Among the memecoins listed in the exchange, only five are available in spot and futures trading. The onchain analyst believes that Binance is relatively cautious on spot listings.
Based on the data, the onchain analyst concluded that Binance does not seem to have a market value requirement for a memecoin listing. However, the analyst said that a common denominator between the memecoins is their popularity and communities.
Related: FTX bankruptcy estate files $1.8B lawsuit against Binance, CZ
Trump memecoins drop after election win
While the crypto market continues to show gains, Donald Trump-themed memecoins seem to have lost their appeal.
On Nov. 7, Trump-themed memecoins collapsed after the president-elect’s victory in the United States presidential election. The MAGA (TRUMP) token tanked by 53% on Nov. 7, while the MAGA Hat (MAGA) memecoin dropped by 55%. Other Trump memecoins decreased in value by 50% to 75%.
Magazine: VonMises bought 60 CryptoPunks in a month before the price spiked: NFT Collector
