Similarly, $PNUT, a token inspired by the popular Peanut the Squirrel, experienced a 300% price increase. Following this, rumors started circulating about Binance insider trading.

Binance Faces Scrutiny Over Meme Coin Listings As $PNUT and $ACT Surge 300%

✨ Binance’s listing of Solana-based meme coins with low market cap sparks pump-and-dump claims.

✨ Over 80% of the meme coin projects listed by Binance in 2024 saw a major price surge after the listing.

✨ Critics argue the exchange is intentionally favoring insiders, while harming retail investors.

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