Binance Memecoin Picks Soar in 2024, $NEIRO Leads with 7594% Gain
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Key Takeaways:
- Over 80% of Binance-listed Memecoins saw value growth in 2024.
- Solana hosts most of the Memecoins, with 60% deployed on its network.
- Memecoin $NEIRO achieved a remarkable 7594% increase post-listing.
In 2024 alone, Binance listed a total of 17 Memecoins on both its spot and futures markets. A recent report has indicated that 80% of the tokens went through high-value hikes shortly after their listing on Binance.
Among these winners, it’s $NEIRO that stands tall, surging a wildly impressive 7594% in market value against the dollar- a testament to the ‘Binance listing effect’ on Memecoin markets. The analysis points out that the majority of this token takes along zoo-related themes, which goes very well with the broader trend for meme tokens this year.
The distribution of Memecoins listed on Binance in 2024 alone evinces a keen interest for some chains: 60% of these are deployed on Solana, followed by Ethereum with 26.7%, while the Binance Smart Chain is behind them.
With the choosiness coming from Binance, the outcome has been that only five of such Memecoins have ended up landing spot and futures listings, insinuating that there’s a path of conservatism to spot trading.
Notable Market Movements and High-Value Projects
The total market capitalization for all Memecoins listed on Binance to date is over $100 million. Among those, the most valued is $WIF, standing at a market capitalization of $2.51B, while $NEIRO remains the biggest gainer after its listing.
The other winners included the extension to $ACT and $Pnut Solana-based tokens, up 1199% and 208%, respectively, in the short term. However, $MOG was down 7%, $BOME 4%, and $MYRO was down 12% in market value. It just goes to show that even with a Binance listing, the Memecoin market is really volatile.
Generally, when Binance is involved, it proves to be very positive for Memecoins. The token listing is often followed by strong upside moments in price. Equally treating tokens with a lower initial market cap, sometimes as low as $15.49 million, as it does with higher-cap assets, goes to show that Binance is focused on involvement and community interest rather than on rigid market cap requirements.
A Strategic Approach to Memecoin Listings
It is now time to bring into light the strategy that Binance has adopted in listing these coins, focusing on select projects that launched between August and November, all to create a market trend supplicated by community engagement.
With every listing, promising new projects increase and investor sentiment gets positively affected, especially with spot listings, which may promote long-term development. For even smaller tokens, the visibility that Binance provides gives great traction and positions 2024 as an inflection point for these coins while amplifying the role Binance will play in the sector.
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