CandleFocus

Binance Hits Big: 17 Memecoins Listed in 2024

Author: Content Editor
Binance has become a key player in the memecoin market, with 15 memecoins available for trading on its platform. 80% of these coins have seen a significant increase in market capitalization since their listing. The majority of these memecoins embrace animal-themed memes and run on the Solana blockchain. Most of the memecoins were introduced between August and November, indicating a seasonal spike. The total market cap of all active memecoins on Binance has exceeded $100 million. While most memecoins have seen growth, some have experienced a drop in market cap. Binance's inclusive approach to listing memecoins emphasizes community engagement and market demand. The listing of memecoins on Binance positively impacts their performance, with a strong positive line in token price charts following listing announcements. Spot listings generally have a more continuous favorable effect on token prices. Binance has added two new Solana-based memecoins, ACT and Pnut, bringing the total number of memecoins listed to 17. The memecoin market is experiencing significant growth, with its market share projected to increase from 0.87% in 2022 to 2.58% in 2024. Memecoins now have a higher trading volume and market value compared to other crypto market categories.

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