Rachel Conlan, Chief Marketing Officer at Binance, has offered a fresh perspective on memecoins, often criticized for their lack of practical utility.
Speaking on the matter, Conlan acknowledged the stigma surrounding memecoins but emphasized the emergence of projects with built-in utility—a feature Binance seeks in its listings. She further noted that Binance’s listing process will prioritize community feedback, reflecting the platform’s user-focused approach.
Rachel Conlan, Binance’s chief marketing officer, said that while Memecoins often receive negative press due to their lack of utility, but some emerging Memecoins have built-in utility, which is what Binance needs. In addition, she said that the listing process will focus on…
— Wu Blockchain (@WuBlockchain) November 30, 2024
Meanwhile, memecoin trading continues to generate staggering profits for savvy investors. In a remarkable example, a trader recently turned $15,300 into $1.29 million in just two days on the Base network.
Trader Makes Strategic Profits
The trader initially purchased 253.63 million $FAI tokens for 4.2 ETH (equivalent to $15,300). Over the next two days, they strategically sold 91.8 million $FAI for 106.2 ETH, securing $384,000. Holding onto the remaining 161.8 million $FAI tokens, valued at approximately $911,000, the trader’s total profit skyrocketed to $1.28 million.
Turn $15.3K into $1.29M in just 2 days on #Base!
This trader spent 4.2 $ETH($15.3K) to buy 253.63M $FAI 2 days ago, then sold 91.8M $FAI for 106.2 $ETH($384K), leaving 161.8M $FAI ($911K).
Total profit: $1.28M!
Address:https://t.co/0Xh2sS4xayhttps://t.co/iTtcCq2Blt pic.twitter.com/fShKhyMJGu
— Lookonchain (@lookonchain) November 30, 2024
This incredible success story underscores the lucrative opportunities in the memecoin market for those with sharp instincts and calculated strategies. It also highlights the growing potential of Base as a hub for such high-yield trades.
As memecoins evolve beyond their novelty status, the incorporation of utility and strong community backing could further cement their position in the broader cryptocurrency ecosystem. With Binance’s focus on fostering such projects, the trend of profitable memecoin trading shows no signs of slowing down.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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