Binance’s approach to listing memecoins in 2024 has drawn significant attention, with varying impacts on token prices post-listing. Pseudonymous on-chain analyst Ai_9684xtpa recently analyzed the performance of 15 memecoins listed on Binance this year. The findings revealed that most tokens experienced substantial price increases, while a few faced depreciation after being introduced to the exchange. The mixed outcomes reflect the volatile nature of the memecoin market and Binance’s selective listing strategy.
Majority of Listed Memecoins See Price Gains
Among the listed tokens, 12 saw notable price appreciation following their Binance debut. Neiro (NEIRO) recorded the most significant growth, with a staggering 7,600% increase in value. Tokens such as Moo Deng (MOODENG), Dogwifhat, and Popcat (POPCAT) surged by over 200% post-listing. Popcat’s price jump highlights how a listing can drive investor interest and trading volume. These dramatic price shifts suggest that a Binance listing often acts as a catalyst for increased demand and liquidity.
Limited Spot and Futures Availability
According to the analyst, only five of the listed memecoins are available for spot trading and futures on Binance. The exchange’s seemingly cautious approach to spot listings may be due to the exchange’s risk reduction focus. Despite this, the data showed no clear market value requirement for memecoin listings. Instead, the tokens’ popularity and community engagement appear to be common factors driving Binance’s selection process.
What Are Perpetual Future Contracts in Cryptocurrency?The analysis also reveals that Binance does not enforce strict market value requirements for listing Memecoins, accepting tokens with market caps ranging from $15.49 million to $881 million. The unifying factor among these Memecoins appears to be their community popularity rather than valuation.
Historical price patterns (K-lines) demonstrate a pronounced “Binance listing effect,” where announcements typically trigger significant price surges. Moreover, the listing of spot products tends to generate a prolonged positive impact, boosting the project’s momentum and sustaining higher valuations over time.
In conclusion, the performance of memecoins listed on Binance in 2024 highlights the unpredictable nature of this asset class. While the majority saw significant gains, a few experienced declines, showcasing the risks involved. The dominance of Solana-based tokens and Binance’s selective listing approach indicate a focus on community-driven projects. As memecoins continue to evolve, their listing dynamics on major exchanges like Binance will remain a crucial factor in shaping their market trajectory.
