Solana-Based Meme Coins ACT and PNUT Soar After Binance Listing Announcement

Two Solana-based meme coins, Act I: The AI Prophecy (ACT) and Peanut the Squirrel (PNUT), have taken the crypto world by storm, thanks to a major boost from Binance’s decision to list them on its platform. Following the announcement, both coins saw massive price surges, signaling a renewed interest in meme coins.

ACT and PNUT’s Meteoric Rise on Binance’s Listing

Binance’s decision to list both ACT and PNUT on its exchange is sending shockwaves through the market, with the two meme coins experiencing an unprecedented surge in value. ACT saw an eye-popping rise of 1,323.7% within 24 hours, soaring to a price of $0.3282, while PNUT jumped 237.5%, reaching $0.3642.

The Binance listing is seen as a critical turning point for these coins, offering them wider exposure and access to a global audience of investors and traders. The news was officially confirmed by Binance on November 11, 2024, when the exchange announced that it would open trading pairs for both tokens.

The announcement read: “Binance will list Act I: The AI Prophecy (ACT), Peanut the Squirrel (PNUT) and open trading for the following spot trading pairs at 2024-11-11 10:00 (UTC).”

The excitement surrounding this listing comes at a time when the meme coin market is riding high, with total market capitalization growing by 18.6% in just one day. This surge comes on the heels of the continued success of established meme coins like Dogecoin (DOGE) and Dogelon Mars (ELON), as they gain traction following the outcome of the U.S. presidential election.

What Binance Listing Means for ACT and PNUT

For ACT and PNUT, the Binance listing provides them with a significant opportunity to grow their user base and liquidity. As one of the largest and most reputable crypto exchanges in the world, Binance’s endorsement can increase these tokens’ visibility and attract more traders.

The fact that both coins are built on the Solana blockchain also adds to their appeal, as Solana is known for its high throughput and low transaction costs, making it a popular choice for developers and users in the crypto space.

However, it’s important to note that Binance has added seed tags to both tokens, highlighting their higher risk and volatility. Seed tags are typically assigned to new and less-established coins, signaling that they may be more susceptible to price fluctuations and speculative trading. Despite this, the listing marks a major milestone for both ACT and PNUT, who are now firmly in the spotlight.

Meme Coin Market Shifts After US Election

While ACT and PNUT are flying high, the rest of the meme coin market is seeing a mix of highs and lows. Notably, meme coins tied to political figures, like KAMA (TRUMP) and MAGA, have experienced a sharp drop in value. After the outcome of the U.S. presidential election, these coins have plummeted by as much as 97%, according to recent market data. In contrast, Elon Musk and DOGE-inspired coins have seen significant gains, with some even surpassing DOGE’s own recent performance.

The rollercoaster ride in the meme coin space is largely driven by market sentiment and, of course, the personalities and events that fuel these coins. The rise of ACT and PNUT, driven by their Binance listing, reflects how new opportunities can spark sudden interest in meme coins, creating dramatic swings in prices.

The Growing Influence of Meme Coins

The rise of meme coins has been one of the more intriguing trends in the cryptocurrency market in recent years. While many critics dismiss them as mere fads, the market for these coins has proven resilient, with millions of dollars trading hands on a daily basis. Coins like Dogecoin (DOGE), Shiba Inu (SHIB), and others have not only captured the imagination of retail investors but have also gained the backing of celebrities like Elon Musk.

For now, it seems that meme coins are here to stay. And with the listing of ACT and PNUT on Binance, the space is only getting more attention. Whether these two Solana-based coins can maintain their momentum remains to be seen, but their explosive gains in the wake of the Binance announcement suggest that meme coin fever is far from over.