In 2024, the Neiro memecoin saw a massive surge of almost 7,600% after being listed on the popular cryptocurrency exchange Binance. This increase in value was part of a trend seen with several other memecoins listed on the exchange that year. Out of the 15 memecoins listed on Binance, 12 experienced significant price increases after going live on the platform.
Memecoins like Moo deng (MOODENG), Dogwifhat (WIF), and Popcat (POPCAT) saw their prices appreciate by over 200% following their Binance listing. The Neiro (NEIRO) memecoin, in particular, saw a staggering 7,600% surge in value after being listed on the exchange. However, not all memecoins experienced positive growth, as tokens like Mog Coin (MOG), Myro (MYRO), and Book of Meme (BOME) saw slight depreciations in value after their listings.
It is worth noting that a majority of the memecoins listed on Binance in 2024 were based on the Solana blockchain, accounting for 60% of the total. Ethereum-based memecoins made up 26.7% of the listings, while the rest were divided between Binance’s BNB Smart Chain and the Base network. Only five of the listed memecoins were available for spot and futures trading, indicating that Binance may be exercising caution when it comes to listing memecoins.
Despite the lack of a specific market value requirement for memecoin listings on Binance, the common thread among the listed tokens was their popularity and strong communities. This suggests that Binance places importance on the support and engagement surrounding a memecoin when considering it for listing on the exchange.
In other news, memecoins themed around former US president Donald Trump saw a decline in value following the election victory of the president-elect. Tokens like MAGA (TRUMP) and MAGA Hat (MAGA) experienced significant drops in value, with some Trump memecoins losing anywhere from 50% to 75% of their value. This indicates a shift in investor sentiment away from Trump-themed memecoins post-election.
Additionally, a notable collector, VonMises, made headlines for purchasing 60 CryptoPunks in the month leading up to a spike in their prices. This NFT collector’s strategic move showcased the potential for significant gains in the NFT market based on timely acquisitions.
Overall, the memecoin market on Binance in 2024 demonstrated both remarkable growth and volatility, reflecting the ever-changing nature of the cryptocurrency landscape. With factors like blockchain technology, community support, and external events influencing memecoin prices, investors must stay informed and agile in navigating this dynamic market.