ACT and PNUT spearhead the recent surge in new listings on Binance
ACT and PNUT have experienced explosive growth as Binance ramps up new token listings, driven by a new meme coin trend and continued interest in AI.
On November 11 at 10:00 UTC, Binance introduced two Solana meme coins, Act 1: The AI Prophecy and Peanut the Squirrel, on its platform. Both meme coins saw significant increases in their market caps following their listings on Binance.
The altcoin project Act 1: The AI Prophecy, also known as ACT (ACT), saw its market cap surge by 1199% to $279 million, as reported by DEX Screener data. The Solana-based token is currently trading at $0.2861 and experienced a sharp spike in its price after news of the Binance listing.
Similarly, the meme coin PNUT, which pays tribute to the viral internet squirrel with a cowboy hat, saw its market cap rise by 208% to $339 million shortly after being listed on Binance. The squirrel-inspired meme coin is currently trading at $0.3792.
According to on-chain analyst @ai_9684xtpa, around 80% of listed meme coins have seen significant increases in their market caps after being listed on Binance. The meme coin NEIRO, for example, saw its market cap soar by 7594% within hours of being listed on Binance.
Most new meme coins launched on Binance are animal-related memes, such as MOODENG and PNUT, leading to a new meme coin trend in the crypto industry. As of now, 60% of these meme coins are Solana-based, while 26.7% are on the Ethereum network. The remaining meme coin projects are based on BSC and Base.
The surge in meme coin prices could be attributed to the rise in Bitcoin Dominance, which reached a new all-time high of $81,858. Bitcoin Dominance currently stands at nearly 60%, indicating a potential altcoin season if gains from Bitcoin rotate to other altcoins.
ACT, launched in October 2024 via the Pump.fun platform, is a Solana-based meme coin focused on promoting AI research, education, and collaboration within a decentralized community. PNUT, on the other hand, is a meme coin inspired by the viral internet squirrel named Peanut, with a trading volume of $300 million and 200,000 transactions in just two days.
The creation of these meme coins was a tribute to Peanut the Squirrel, who gained fame on social media before tragically being euthanized. This incident sparked public outcry and led to the development of meme coins dedicated to Peanut, including the Solana-based PNUT.
