In 2024, Binance witnessed significant price increases in many memecoins listed on its platform, especially after their debut on the exchange.
On November 11, an on-chain analyst shared data that revealed 12 out of the 15 memecoins launched this year experienced notable price hikes after becoming available on Binance. Coins such as Moo deng (MOODENG), Dogwifhat (WIF), and Popcat (POPCAT) surged by over 200%, while Neiro (NEIRO) saw an extraordinary 7,600% increase in value after its listing.
However, not all tokens performed well. Some memecoins, like Mog Coin (MOG), Myro (MYRO), and Book of Meme (BOME), experienced slight price drops. MYRO saw a decrease of 33.3%, while MOG and BOME fell by around 12% and 1%, respectively.
Interestingly, most of the new memecoins were built on the Solana blockchain, which accounted for 60% of the listed tokens. Ethereum-based coins made up 26.7%, with the remaining coins distributed across Binance’s BNB Smart Chain and the Base network.
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The analyst noted that while Binance is selective about spot listings, it doesn’t seem to have a strict market cap requirement for listing memecoins. Instead, the exchange focuses on their popularity and community support.
Meanwhile, memecoins themed around Donald Trump saw a sharp decline in value after his election win. On November 7, the MAGA (TRUMP) token plummeted by 53%, and the MAGA Hat (MAGA) token dropped by 55%, with other Trump-related memecoins falling between 50% and 75%.