Originally published on: November 11, 2024
In 2024, Binance made headlines as 12 out of 15 memecoins listed on the platform experienced significant price surges following their listing. Memecoins like MOODENG, WIF, and POPCAT saw their values skyrocket by over 200% after being added to Binance, while NEIRO saw an incredible 7,600% increase.
Interestingly, while most memecoins saw gains, some, like MOG, MYRO, and BOME, experienced slight price declines post-listing. MYRO, in particular, witnessed a 33.3% decrease, while MOG and BOME dropped by 11.8% and 1.28%, respectively.
The data also revealed that a majority of the memecoins listed on Binance in 2024 were based on the Solana blockchain, followed by Ethereum, Binance’s BNB Smart Chain, and the Base network.
Moreover, only five of the listed memecoins were available for spot and futures trading, indicating Binance’s cautious approach to spot listings. Despite the lack of a clear market value requirement for memecoin listings, it appears that popularity and community support play a significant role in Binance’s selection process.
While the memecoin market continues to thrive, Trump-themed memecoins took a hit after the former president’s election victory. Tokens like TRUMP and MAGA experienced significant price drops, ranging from 50% to 75%, showcasing the unpredictable nature of the crypto market.
Overall, Binance’s role in boosting memecoin prices in 2024 demonstrates the exchange’s influence in the cryptocurrency space and its ability to drive significant market movements.
