After a brief pause, the crypto exchange in the world is back to its meme coin listing spree.
Binance Futures has launched a USDⓈ-Margined $CAT Perpetual Contract on October 21st. Unsurprisingly, the Simon’s Cat price is up by nearly 50% following the listing, with an 1100% spike in its daily trading volume.
Experts believe that the meme coin is headed to a multi-billion dollar valuation in the coming weeks.
Meanwhile, there is also considerable speculation on which meme coins could be next to list on Binance, with Sundog, Degen and Pepe Unchained among the frontrunners.
Binance Futures Lists Simon’s Cat – Is It The Next Billion Dollar Meme Coin?
Binance has shown a significant proclivity towards listing meme coins, much more than it did in previous cycles. Perhaps, the world’s largest crypto exchange also believes that a meme coin supercycle is right around the corner.
Binance Futures listed Simon’s Cat on Monday, a Binance Smart Chain-based meme coin. There is also growing speculation that a Binance spot listing could be next for CAT.
The meme coin is now trading at $0.000036, with a market capitalization of $244 million, after a 50% spike in its value following the listing. Its daily trading volume is also up by 1100%, hovering near the $300 million mark at press time.
Notably, Binance Futures is already contributing to $73 million in Perpetual volume following the listing. However, experts believe that Simon’s Cat is still largely undervalued.
For instance, prominent crypto trader Unipcs – aka ‘Bonk Guy’ with nearly 50k X followers – has opened his first-ever leveraged long position on CAT. He highlights the meme coin’s social following, the backing from Floki and a potential Binance spot listing as the key reasons behind his bullish stance.
Similarly, popular crypto investor The Alchemist projects that Simon’s Cat is headed to the billion-dollar mark, especially after breaching the upper trendline of its descending wedge.
TraderSZ – the popular crypto influencer with over 600k X followers – is also bullish on the meme coin. Notably, he was also one of the early investors in NEIRO token, even before its surprising Binance spot listing.
In fact, Simon’s Cat does have one key similarity with First Neiro On Ethereum – they both were low-cap meme coins before their Binance listing. NEIRO had a valuation of just $15 million while CAT was hovering near the $160 million mark.
Binance co-founder He Yi has already announced that Binance will be looking to onboard low-cap meme coins with high decentralization, aiming to rekindle the anti-Wall Street spirit of the sector.
Which Meme Coins Could List Next On Binance?
In light of the coming meme coin supercycle, it is unlikely that Binance will stop its meme coin listing spree anytime soon. Consequently, smart money investors are attempting to guess and front-run the next potential Binance listings.
Sundog – the top Tron meme coin – is one of the frontrunners. SUNDOG has a partnership with First Neiro On Ethereum as well as strong support from Tron co-founder Justin Sun.
Degen is another meme coin that could be listed on Binance. It is another low-cap meme coin with a market cap of just $125 million. It was also recently listed on Coinbase, which further improves its odds.
Finally, Pepe Unchained (PEPU) has been gaining significant traction as a potential low-cap project that could launch on top-tier exchanges, including Binance.
PEPU has been one of the hottest presales of 2024 and has already raised nearly $21.5 million in early investments, thanks to some large whale investments.
As a rare utility-driven meme coin, Pepe Unchained has separated itself from other copycat frog meme coins. Instead, it is launching a Layer-2 blockchain on Ethereum, designed specifically for meme coin trading.
Moreover, it also has a native staking protocol, which is currently offering an APY of 105% to presale buyers.
Thanks to its unique value proposition, PEPU has caught the attention of several prominent crypto investors, some of whom are calling it one of the best presale meme coins to invest in.
Others are even more bullish, calling Pepe Unchained the next 100x crypto.
