Is Memecoin (MEME) Worth The Hype?

Is Memecoin (MEME) Worth The Hype?

Memecoin (MEME), an ERC-20 token, has quickly risen to prominence as the native ecosystem token introduced by Memeland, a pioneering Web3 company. With 2023 proving to be a year for meme coins, enthusiasts are now considering whether the new meme coin MEME can also follow the path of the popular meme coins Shiba Inu, Dogecoin, and Pepe Coin.

Memecoin Trending Amid Binance Listing

The cryptocurrency, Memecoin (MEME), captured the attention of various crypto enthusiasts as it announced its listing on Binance, one of the largest cryptocurrency exchanges. The news of its debut on major exchanges generated substantial interest and excitement within the crypto space, leading to a remarkable surge of over 2500% in the token’s initial trading stages.

The astounding 2500% surge of Meme Token has been a topic of conversation from the early hours of its listing. MEME’s value skyrocketed, reaching $0.025699, leaving many in anticipation of what the future holds, especially with an airdrop event adding to the frenzy.

Overwhelming Demand For Memecoin

Adding to the hype, various Web3 data analysis platforms have reported an overwhelming demand for Memecoin. The statistics revolving around Memecoin’s airdrop are staggering, with requests for 2.35 billion MEME tokens, amounting to approximately $52.4 million, representing 13.6% of the total supply.

Moreover, Binance has announced the inclusion of Memecoin (MEME) in its Launchpool, further fueling the enthusiasm. The listing is set to commence in a week, with trading featuring a maximum token supply of 69 billion (MEME). The combination of Memecoin’s unconventional and meme-inspired approach, its exponential price surge, and the anticipation surrounding its airdrop has undeniably made it a vital point of attention in the world of cryptocurrencies.

In another significant move, Binance chose to jack up the status of Memecoin within the cryptocurrency market. On November 3, Binance officially introduced Memecoin (MEME) for trading. The exchange has included various trading pairs for MEME, such as MEME/BNB, MEME/USDT, MEME/FDUSD, MEME/TUSD, and MEME/TRY, which have become available for trading now. Furthermore, Binance is all set to provide TradingBots services for the MEME/USDT trading pair as well.

Memecoin Perpetual Contacts

Binance’s announcement also mentioned an attractive offer for its users. It states that zero maker fees will apply to the MEME/FDUSD and MEME/TUSD trading pairs until further notices are provided by the exchange. Additionally, Binance Futures also introduced the USD-M MEME Perpetual Contract on November 3, 2023, at noon (UTC), featuring leverage of up to 50 times. This strategic move by Binance is expected to foster greater engagement and activity in the Memecoin market, drawing attention to the intriguing opportunities presented by MEME trading.

What Does The Future Look Like?

With the recent advancements made by the MEME community, the token seems to appear in the green while also portraying a brighter outlook for the future. While the token’s price initially went into a slump following the news of the token’s listing on Binance, as of writing, the price is up by almost 14% in the past twenty-four hours, reaching $0.02592. The token’s twenty-four-hour trading volume also gained substantial traction as it was up by a whopping 139.39%. Moreover, Memecoin has grabbed the ranking of 143 on CoinMarketCap, with a market cap of $221.46 million.

The aforesaid data portrays better tokenomics as compared to past data, illustrating a better future. The hype centered around the Memecoin token seems to be justified as it created quite a buzz in the crypto realm while also showcasing positive results. Although the prices were low compared to the weekly average, the token has been showing notable gains over the recent hours.

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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.


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