Memecoin

MEME

Rise

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
In a surprising turn of events, Memecoin (MEME) has experienced an extraordinary surge in value after receiving a&nbsp;<a href="https://www.binance.com/en/blog/ecosystem/binance-labs-invests-in-meme-the-native-token-of-memeland-from-the-creators-of-9gag-1370020903256087146" rel="noopener noreferrer nofollow">significant investment</a> from Binance Labs, the venture capital and incubation arm of the world's leading cryptocurrency exchange, Binance. The announcement, made by Binance Labs, reveals that the investment is geared toward supporting Memecoin's native ecosystem token and fostering the development of Memeland.
Memeland, the brainchild of the creators behind the immensely popular meme platform 9GAG, is an independent&nbsp;<a href="https://u.today/press-releases/zeebu-a-web3-neobank-revolutionizing-telecom-settlements" rel="noopener noreferrer nofollow">Web3 venture</a> studio. With a staggering monthly audience of 200 million users worldwide across its various channels, Memeland focuses on SocialFi and the creator economy.
The primary objective of Memeland is to connect creators and communities through the innovative use of the MEME token and non-fungible tokens (NFTs), tapping into the vibrant culture of the meme internet. Aside from its iconic NFTs and the MEME token, Memeland introduces additional features such as MEME Farming, signaling a commitment to enhancing user experiences and fostering community engagement.
<h2 dir="ltr" id="meme-s-price-roller-coaster">MEME's price roller coaster</h2>
Following the announcement, MEME experienced a brief spike in price to $0.03 before undergoing a subsequent correction. As of the latest&nbsp;<a href="https://coinmarketcap.com/currencies/meme/" rel="noopener noreferrer nofollow">update</a>, the current price stands at $0.02702, reflecting a 6.18% decrease in the last 24 hours. Despite the temporary dip, the trading volume of MEME has surged dramatically by 370.50%, reaching an impressive $292,535,846.
Regarding the overall sentiment, there has been a recent downturn in the cryptocurrency market, particularly affecting meme coins. This decline can be attributed to Matrixport's report, indicating a&nbsp;<a href="https://u.today/bitcoin-spot-etf-rejection-coming-matrixport-warns-investors-of-pending-sec-decision" rel="noopener noreferrer nofollow">probable rejection</a> of Bitcoin spot ETF applications by the U.S. Securities and Exchange Commission (SEC). The cryptocurrency market has undergone a substantial shakeout, resulting in a massive $730 million in liquidations within a single day.
Overall, investors and crypto enthusiasts alike are closely monitoring MEME's developments, anticipating further advancements in the project's ecosystem. With Binance Labs' backing, Memecoin appears to be well-positioned to capitalize on the growing intersection of meme culture, NFTs and decentralized finance.

Memecoin (MEME) Sees Meteoric Rise After Major Investment From Binance Labs

Table of Contents

U_Today

Other articles published on Jan 4, 2024

Ex-Citigroup execs to launch alternative Bitcoin security amid ETF uncertainty

Ripple XRP or Cardano ADA: Which Will Hit $1 in January 2024?

SEC To Reject Spot Bitcoin ETF Leading To Potential Crypto Market Crash : Warns Analyst

Why Is Powerledger (POWR) Price Surging? Higher Asks Than Bids Suggest a Fall from Here – Key Pri...

BlackRock Names JPMorgan for Bitcoin ETF, SEC Approval Expected in 2024

Coinbase Adapts to UK Regulations with New User Risk Form

Join our free newsletter for daily crypto updates!