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Memecoin (MEME) Surges After Binance Listing
Memecoin (MEME), an ERC-20 token created by Memeland, a Web3 company, has gained significant attention in the crypto community. Following its listing on Binance, one of the largest cryptocurrency exchanges, MEME experienced an astonishing surge of over 2500% in its initial trading stages. This surge sparked excitement and anticipation among crypto enthusiasts.
Overwhelming Demand for Memecoin
Data analysis platforms have reported overwhelming demand for MEME, with requests for 2.35 billion tokens worth approximately $52.4 million. This represents 13.6% of the total token supply. Binance’s inclusion of MEME in its Launchpool has further fueled the enthusiasm surrounding the coin.
Binance’s Support for Memecoin
Binance introduced trading pairs for MEME, such as MEME/BNB, MEME/USDT, MEME/FDUSD, MEME/TUSD, and MEME/TRY. The exchange also offers TradingBots services for the MEME/USDT pair. Additionally, Binance Futures introduced the USD-M MEME Perpetual Contract with leverage of up to 50 times.
The Future of Memecoin
Despite a temporary slump in price after its listing on Binance, MEME has shown positive signs of growth. The token’s price has increased by almost 14% in the past twenty-four hours and its trading volume has also significantly increased. With a market cap of $221.46 million and a ranking of 143 on CoinMarketCap, Memecoin appears to have a promising future.
Hot Take: Memecoin Gains Momentum as Crypto Enthusiasts Embrace the Meme Craze
Memecoin (MEME) has quickly become a popular choice among crypto enthusiasts as meme coins gain traction in 2023. With its listing on Binance and the overwhelming demand for the token, MEME has shown potential to follow in the footsteps of other successful meme coins like Shiba Inu, Dogecoin, and Pepe Coin. The support from Binance, including trading pairs and perpetual contracts, further solidifies MEME’s position in the market.
Although MEME experienced a temporary price slump, it has bounced back and shown significant growth. With positive indicators such as increased trading volume and a higher market cap, Memecoin seems to have a bright future ahead. As more people embrace the meme craze and recognize the potential of these unconventional tokens, MEME is likely to continue gaining momentum in the cryptocurrency world.
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Source: [CoinGape](https://coingape.com/memecoin-meme-surges-binance-listing/)
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