On November 11, Binance, the largest cryptocurrency exchange, announced the listing of two new tokens: Act I: The AI Prophecy (ACT) and Peanut the Squirrel (PNUT). Both tokens saw a significant price surge shortly after, with each climbing several times over. Interestingly, both tokens were created less than a month ago by anonymous developers, yet Binance immediately made them available on its spot market.
Following the listing, ACT’s price rose by 1600%, from $0.02 to $0.44, while PNUT saw an increase of over 300%, climbing from $0.10 to $0.43.
This year, Binance has listed multiple meme tokens. According to a report from the exchange’s research division, meme coins have high speculative potential, turning them into an investment opportunity with the potential for massive returns.
The Projects Behind the Tokens
Act I: The AI Prophecy is an interactive platform where users and various bots can collaborate in real time. This project allows users to engage with multiple chatbots simultaneously, enabling open and diverse interactions without restricting users’ questions.
The ACT token began circulating on October 19, with a market cap of less than $60 million before the Binance listing. By November 11, its market cap had jumped to $390 million.
Peanut the Squirrel traces its roots to a public incident that gained attention during Donald Trump’s campaign. In early November, just before the U.S. presidential election, a famous social media squirrel named Peanut was seized from its owner, blogger Mark Long, who had cared for the animal for seven years. The squirrel was euthanized over concerns of rabies. This caused a public outcry, with Trump seizing the opportunity to highlight what he described as misplaced priorities by his Democratic opponents.
The PNUT tokens launched on October 31 on Pump.fun in the Solana network, and as of November 11, the market cap of Peanut the Squirrel surpassed $470 million, with a total supply of 999 million PNUT.
Meme Coin Volatility and Decline
Despite their popularity, meme coin “mortality rates” are strikingly high, even surprising Binance’s own analysts. Binance Research estimates that 97% of meme coins have already faded into obscurity, with trading volumes dropping nearly to zero. It’s common for these tokens to peak at an all-time high upon their trading debut, only to subsequently experience sharp price declines.
For example, cryptocurrencies related to popular Telegram-based clicker games, such as Hamster Kombat (HMSTR), Notcoin (NOT), and Dogs (DOGS), have decreased in value by around 70–80% since they began trading in 2024.
In early November, the price of Mog Coin (MOG) skyrocketed and then crashed with the launch of MOG futures on Binance. The exchange introduced perpetual futures for MOG with up to 75x leverage. Its price initially jumped by 15% following Binance’s announcement but quickly dropped to an even lower level.
In recent weeks, Binance also introduced futures with up to 75x leverage on three other meme coins: Goatseus Maximus (GOAT), Moo Deng (MOODENG), and PONKE, as well as on tokens like TROY (TROY), Safe (SAFE), and the Santos FC Fan Token (SANTOS).
Throughout the year, Binance has added several meme coins with anonymous creators to its listings, including BOOK OF MEME (BOME), cat in a dogs world (MEW), Neiro (NEIRO), and others. Many of these tokens were initially listed on Binance’s futures platform with 50–75x leverage options, with some eventually making their way to the spot market.
Meme Coin Price Swings
Meme coins frequently exhibit price volatility, with yesterday’s leaders often becoming today’s laggards. For instance, MEW rose by 13.5% over the last 24 hours, while on November 11, NEIRO recorded the steepest drop among the top 100 cryptocurrencies, with its price falling by 11.8%.
This showcases the highly unpredictable nature of meme coin markets and highlights their appeal to high-risk, high-reward investors.
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