Binance’s new “Vote to List” campaign, letting users pick which smaller crypto projects get listed, has resulted in a rollercoaster ride for some memecoins.
The Winners (and Losers)
The first batch of winning memecoins – Mubarak (MUBARAK), CZ’s Dog (BROCOLLI714), Tutorial (TUT), and Bananas for Scale (BANANAS31) – were listed on Binance yesterday. The results have been, shall we say, exciting.
- MUBARAK: Down 40% since listing, trading at $0.084.
- CZ’s Dog: Up 8% in 24 hours, currently at $0.055.
- Bananas for Scale: Down 18% since listing, trading at $0.005.
- TUTORIAL: A massive 157% increase in a single day, trading at $0.042.
The Wild World of Memecoins
As anyone who’s dabbled in memecoins knows, their prices are notoriously unpredictable. SEC Commissioner Hester Peirce recently cautioned investors about the lack of regulatory protection in this volatile market. She emphasized that just because a memecoin is popular doesn’t mean it falls under SEC regulations. Investors should proceed with extreme caution.
Disclaimer: This information is for general knowledge only and is not financial advice. Investing in cryptocurrencies is risky. Do your own research before investing./p>
