A new meme crypto – called Memecoin ($MEME) – is now live on Binance for trading, along with a number of other Tier-1 crypto exchanges.
According to data from CryptoRank, $MEME coin opened trading at the price of $0.0232 and immediately surged 25% to hit an all-time high of $0.0288. Despite a correction since, $MEME is currently trading at $0.0251 – up over 30% from the lows at the time of writing.
Memecoin Binance Listing
Memecoin currently has a market capitalization of over $220 million, higher than that of popular meme cryptos such as Bone ShibaSwap and HarryPotterObamaSonic10Inu.
At its all-time high following the Binance listing pump, $MEME had a market capitalization of $253 million, coming close to flipping Floki (FLOKI).
The token’s bullish stance makes complete sense – Binance’s stamp of approval carries a lot of weight, especially in the meme coin market. Indeed, Pepe and Floki – two of the top Binance-listed meme coins – saw 10000% bull rallies after their launch.
Investors believe that the next crypto bull run has already started and are looking out for tokens such as $MEME that have explosive price potential. Another token that is gaining strong traction amongst smart money traders is Meme Kombat ($MK), thanks to its Play2Earn and GambleFi utility.
Why Investors Are Bullish On $MEME Token?
Experts believe that meme tokens such as Pepe and Floki will lead the next crypto bull market, with $MEME now joining that list. According to CoinMarketCap, it is already the 5th largest meme crypto and is already seeing a trading volume of $530 million, which is the 10th highest volume of any cryptocurrency today.
Memecoin is associated with the Memeland project – a Web3-focused venture studio which has the same developer team behind it that launched the popular platform 9GAG.
The robust demand for the token was evident in its Firesale – a private sale that raised over $8 million in just 28 hours.
$MEME started to gain enormous traction after Binance announced a Launchpool for the token, an announcement that was also retweeted by the exchange’s founder Changpeng “CZ” Zhou. The Launchpool announced investors to farm $MEME by staking BNB, TUSD or FDUSD.
Following the Launchpool, the token was listed on Binance’s spot market today at 8:00 AM UTC. Crypto exchanges such as Uniswap, MEXC, BitMEX, ByBit, etc. have also launched the token on their platforms.
According to on-chain data firm LookOnChain, the token’s airdrop is also creating a frenzy, with $52.4 million worth of $MEME being claimed so far. Popular crypto influencers such as @lastvikingeth, @dingalingts and @BitroxEth have claimed a sizable amount of Memecoin tokens.
Experts are clearly bullish on the token, with popular trader GeneralGordon.eth, who also has a massive social media following, announcing that he has invested $2 million into $MEME. He also got airdropped close to $8 million worth of Memecoin, bringing his total investment to $10 million.
The admin of the Crypto Whale Pumps group on Telegram – which has over 25k subscribers – is also bullish on the token. He has also made a sizable investment into another new meme cryptocurrency – Meme Kombat.
Meme Kombat Hits $1 Million Milestone In ICO – Next Crypto To Explode?
While $MEME is a typical low utility meme token, the new Meme Kombat project has taken a different approach – it is a combination of some of the most in-demand concepts of the crypto market such as Play2Earn, staking, gambleFi, and even artificial intelligence.
The Meme Kombat project is set to launch a Play2Earn platform that will have 11 different characters – each representing a popular meme coin such as Pepe, Floki, Doge, Shiba and Sponge. With the help of artificial intelligence, these characters will engage in exciting battles, the outcome of which will be unpredictable.
Players can wager on the outcome of the game and bet against each other or against the house itself.
Meme Kombat’s stake-to-earn – which is currently offering an APY of 112% – is also receiving praise from smart money traders such as Michael Wrubel. After all, Floki’s recent bull rally – after it announced its own staking program – reveals the strong demand for this feature.
The project has also revealed the identity of all the team members behind the token, a move that could lead to significant user adoption. After all, projects with anonymous team members often carry significant risks of rug pulls and scams.
Disclaimer: The above article is sponsored content; it’s written by a third party. CryptoPotato doesn’t endorse or assume responsibility for the content, advertising, products, quality, accuracy, or other materials on this page. Nothing in it should be construed as financial advice. Readers are strongly advised to verify the information independently and carefully before engaging with any company or project mentioned and do their own research. Investing in cryptocurrencies carries a risk of capital loss, and readers are also advised to consult a professional before making any decisions that may or may not be based on the above-sponsored content.
Readers are also advised to read CryptoPotato’s full disclaimer.