Last week, Bitcoin reached another historic high, which excited the cryptocurrency market and led to a sharp rise in other coins. The rally was reflected in the meme coin market, including the new tokens ACT and PNUT.
The fate of meme coins was influenced not only by the sharp rise in the market. On November 11, the cryptocurrency exchange Binance announced the listing of Act I: The AI Prophecy (ACT) and Peanut the Squirrel (PNUT), after which the price of the meme coins skyrocketed within minutes: ACT saw a growth of 1600% (from $0.02 to $0.44), while PNUT increased by more than 300% (from $0.10 to $0.43). The creators of both ACT and PNUT are anonymous teams.
Listing on major exchanges has a strong impact on token prices for the umpteenth time, and many platforms regularly add joke coins (meme coins) to spot trading, as they have high profit potential.
AI at the core
Act I: The AI Prophecy (ACT) is a community-driven platform designed to expand the boundaries of AI through decentralized and interactive AI. Unlike traditional AI-based projects, Act I is an ecosystem in which numerous chatbots can interact with each other and users, addressing any inquiries and not limiting users in their questions.
The issuance of ACT tokens began only a month ago – on October 19. Before the listing on the cryptocurrency exchange, the total market capitalization of the cryptocurrency was around $60 million at a price of $0.02. However, it almost instantly rose to $390 million at a token price of $0.44 after the start of spot trading.
The story of the deceased squirrel
The token Peanut the Squirrel indirectly attracted the attention of two individuals who had been at the center of the news agenda in recent weeks – Donald Trump and Elon Musk. In early November, shortly before the US presidential elections, a well-known squirrel on social media named Peanut was taken from blogger Mark Long, whose house the animal had lived in for many years, to be euthanized due to concerns related to a rabies outbreak. This incident caused a stir on social media, and Trump and his supporter Musk used it for their election campaign.
After the squirrel was euthanized, the token Peanut the Squirrel (PNUT) was launched, quickly becoming popular. PNUT tokens were released on October 31 on the Pump.fun platform based on Solana. A total of 999 million PNUT are in circulation, and the market capitalization of PNUT exceeded $470 million after the listing on the exchange.
A week after the explosive growth of the meme coins ACT and PNUT, they did not meet the fate of many tokens with similar dynamics. Their prices continued to rise and are now trading at $0.59 and $1.62 respectively.
How to discover and invest early in promising coins
The fate of ACT and PNUT once again plunged many cryptocurrency users into FOMO – the fear of missing out. The search for promising coins is usually successfully undertaken by large funds that have more than a dozen researchers on staff. However, ordinary users also have the opportunity to discover such crypto assets before they soar.
For example, you can use category search on the CoinEx exchange to quickly filter the necessary coins. The cryptocurrency exchange CoinEx listed ACT and PNUT even before their rise – the platform has a research team that seeks and selects projects with good potential. Currently, there are already 1200 crypto assets represented on the exchange.
In addition, promising coins are placed in the MEME section on CoinEx. After registering on the exchange, each user gains access to the large platform's research and the ability to discover tokens with the potential for multiple growth before they sharply increase in price.
