The cryptocurrency exchange Binance has witnessed significant price increases for most memecoins listed on its platform in 2024.
On November 11, the on-chain analyst pseudonym Ai_9684xtpa posted on X that among the 15 memecoins listed by Binance in 2024, 12 memecoins saw significant value increases after being listed on the exchange.
Memecoins like Moo deng (MOODENG), Dogwifhat (WIF), and Popcat (POPCAT) saw prices increase by over 200% after being listed on Binance, while the Neiro memecoin (NEIRO) surged nearly 7,600% after its launch.
While most tokens listed have increased in price, some have decreased. Mog Coin (MOG), Myro (MYRO), and Book of Meme (BOME) all experienced slight price drops after being listed on Binance. The price of MYRO fell by 33.3%, while the prices of MOG and BOME dropped by 11.8% and 1.28%, respectively.
Most of the listed memecoins are based on the Solana blockchain.
The on-chain analyst also indicated that 60% of memecoins listed on Binance in 2024 are based on the Solana blockchain. Another 26.7% are based on Ethereum, with the remainder split between Binance's BNB Smart Chain and the Base network.
Among the memecoins listed, only five memecoins are available for spot and futures trading. The analyst noted that Binance is quite cautious about spot listings.
Based on the data, the analyst concluded that Binance seems to have no market value requirement for listing memecoins. The common factor may be their popularity and community.
Trump's memecoins dropped after the election victory.
While the cryptocurrency market continues to show growth, Donald Trump-themed memecoins seem to have lost their appeal.
On November 7, Trump-themed memecoins collapsed following the victory of the elected president in the U.S. election. The MAGA token (TRUMP) dropped by 53% on November 7, while the MAGA Hat memecoin (MAGA) fell by 55%. Other Trump memecoins lost value ranging from 50% to 75%.
