80% of memecoins pumped after Binance listing in 2024
Binance experienced significant price increases for memecoins listed in 2024, with 12 out of 15 memecoins appreciating after their launch. Notable gains included Moo deng (MOODENG), Dogwifhat (WIF), and Popcat (POPCAT), each rising over 200%, while Neiro (NEIRO) surged nearly 7,600%. Conversely, Mog Coin (MOG), Myro (MYRO), and Book of Meme (BOME) faced declines, with MYRO down 33.25%, MOG down 11.78%, and BOME down 1.28%. Most listed memecoins were based on the Solana blockchain (60%), followed by Ethereum (26.7%). Only five memecoins were available for spot and futures trading, indicating Binance's cautious approach to listings. The analysis suggested no market value requirement for memecoins, emphasizing their popularity and community support. Following the recent U.S. presidential election, Trump-themed memecoins saw significant drops, with MAGA (TRUMP) and MAGA Hat (MAGA) falling by 53% and 55%, respectively, while others declined by 50% to 75%.
