Solana memecoin craze subsides after Binance itemizing

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  • Solana meme cash PNUT and ACT have fallen by 10.38% and 9.48% up to now day.
  • PNUT and ACT have plunged 36.94% and 43.34% up to now week alone.
  • Solana’s largest meme coin, BONK, has soared 31% up to now seven days.

Regardless of Bitcoin hitting new all-time highs, the memecoin craze on the Solana blockchain seems to be cooling down. Solana meme cash Peanut the Squirrel (PNUT) and Act I: The AI ​​Prophecy (ACT) skilled vital worth declines after their current itemizing on Binance. This financial downturn Sustainability of Meme Coin Hype and spotlight the dangers You can not put money into such unstable property.

Each had been listed on Binance, the world's largest digital asset buying and selling platform, however each plummeted. PNUT fell 10.38% to $1.44, and ACT fell 9.48% to $0.4791.

Additionally learn: PEPE, PNUT, PONKE: The trifecta of meme cash takes over

Up to now 7 days alone, ACT has plunged 43.34% and PNUT has misplaced 36.94% of its worth. PNUT is buying and selling at a reduction of 40.72% from its all-time excessive of $1.44, whereas ACT is down 48.61% from its all-time excessive of $0.942.

Earlier than being listed on Binance, these cryptocurrencies had been producing enormous income. In response to CoinMarketCap information, ACT surged 1,690.21% and PNUT surged 2,634.67% final month, outperforming most altcoins and producing vital positive factors for holders.

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Dangers and advantages of investing in Solana Memecoins

Meme cash are extremely unstable and speculative property, and their worth derives from hype. Whereas Dogecoin (DOGE) and Shiba Inu (SHIB) lead the meme coin sector, Solana-based meme cash have outperformed these two over the previous yr or so.

For instance, BONK, the highest Solana meme coin, has surged 5.9% up to now hour and 31.7% up to now 7 days. Nonetheless, Dogwifat (WIF) is down 22.4% over the previous week, and Popcat (POPCAT) is down 19.9% ​​over the previous 7 days. In response to information from CoinGecko, the Solana meme coin has a complete valuation of $20.8 billion.

Disclaimer: The knowledge contained on this article is for informational and academic functions solely. This text doesn’t represent monetary recommendation or recommendation of any variety. Coin Version is just not accountable for any losses incurred because of the usage of the content material, merchandise, or companies talked about. We encourage our readers to conduct due diligence earlier than taking any motion associated to our firm.

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