In 2024, Binance’s listings led to significant price surges for 80% of the memecoins, with notable gains like Neiro’s 7,600% increase. However, some tokens, including Mog Coin and Myro, experienced declines. Most listed memecoins were based on the Solana blockchain, highlighting Binance’s focus on community popularity over market value. Meanwhile, Trump-themed memecoins plummeted following the election, with losses ranging from 50% to 75%.
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0 posts last weekBinance Faces Criticism Over Memecoin Listings and Alleged Pump and Dump Schemes
Binance faces scrutiny for listing Solana-based memecoins, The AI Prophecy (ACT) and Peanut the Squirrel (PNUT), which saw dramatic price surges post-listing, raising allegations of promoting “pump and dump” schemes. Critics argue that the exchange’s relaxed listing standards favor insiders and harm retail investors, prompting calls for transparency regarding listing fees and practices. An analyst noted that 80% of memecoins listed by Binance in 2024 experienced significant price increases, suggesting community support outweighs market value in the selection process.
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