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80% of memecoins pumped after Binance listing in 2024
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The Neiro memecoin rose almost 7,600% after being listed on the Binance exchange.
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The cryptocurrency exchange Binance saw significant price increases for most 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.
While most of the listed tokens saw price increases, some declined. Mog Coin (MOG), Myro (MYRO) and Book of Meme (BOME) all showed slight depreciation after their Binance listings.
MYRO had a 33.3% price decrease, while MOG and BOME dropped by 11.8% and 1.28%, respectively.
Most listed memecoins are on Solana blockchain
The onchain analyst also said 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, only five are available in spot and futures trading. The analyst said Binance is relatively cautious on spot listings.
Based on the data, the analyst concluded that Binance does not seem to have a market value requirement for a memecoin listing. A common denominator may be 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 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
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