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Another week, another Binance meme coin listing.
The world’s leading crypto-derivatives exchange continues to prepare for the upcoming meme coin supercycle. After listing PONKE earlier this week, Binance Futures has launched Mog Coin Perpetual Contracts on Thursday, allowing its users to trade with 75x leverage.
There is growing speculation on which could be the next Binance meme coin, with Pepe Unchained emerging as one of the candidates.
Mog Coin Shows Extreme Volatility Following Binance Listing, Is It The Right Time To Buy?
Mog Coin saw impressive growth this week before the Binance Futures listing, rallying 40% from its local bottom of $0.0000016 to $0.0000023, surpassing the $900 million mark.
However, the Binance listing resulted in a local top, with the MOG price plummeting 16% to $0.00000193 in minutes.
The meme coin price has recovered since and is currently trading at $0.0000021 at press time. However, the possibility of more downside volatility cannot be ignored.
Binance listings often act as a local top after an initial rally as whales tend to lock in their profits. For instance, the Popcat price saw an initial bounce after its Binance Futures listing, only to see a 43% pullback over the next 12 days, followed by a bullish continuation.
Similarly, the Moo Deng price more than tripped after its Binance Futures launch, followed by a 50% pullback.
However, having completed its A-B-C corrective wave, MOODENG is now poised to push towards new all-time highs. Its market cap has already more than doubled since creating its local bottom.
PONKE has also showcased a similar price action following its Binance Futures listing and there is no reason why Mog Coin would be any different.
Sidelined investors and swing traders can wait for a pullback to the $0.13 to $0.15 range for a better entry.
However, MOG remains an excellent long-term investment, especially following its Binance listing. Popular crypto influencers including Murad Mehmudov and Ansem are extremely bullish on its upside potential.
In fact, Ansem largely prefers Solana meme coins over their Ethereum counterparts. However, he considers Mog Coin an S-tier meme coin, projecting it to reach a peak market capitalization of $50 billion in the coming months.
Could Pepe Unchained Be The Next Binance Listing?
Binance, particularly its Futures platform, is no longer hesitant to list meme coins. In fact, the world’s leading crypto exchange is showing a proclivity towards listing new, low-cap meme coins.
Unsurprisingly, Pepe Unchained (PEPU), one of the hottest presales of 2024, is drawing Binance rumours.
The new meme coin has already raised over $25 million in its Initial Coin Offering (ICO) behind heavy whale investments and strong retail interest.
However, it is its high-utility nature that sets it apart from other run-of-the-mill projects. It is building a new Layer-2 ecosystem on Ethereum, designed specifically for meme coin trading. Atop it will be a two-click launchpad, known as Pepe’s Pump Pad, a direct competitor to Solana’s Pump.fun.
PEPU and the new meme coin launching on the Pump Pad will offer extremely low trading costs, instant transactions and cutting-edge tools like custom DEX, Ethereum bridge, block explorer and advanced analytics.
Additionally, early PEPU buyers can take advantage of the project’s native staking protocol, which is currently offering an APY of 94%.
It is therefore no surprise that a low-cap, high-utility meme coin is drawing Binance rumours. Even without it, prominent crypto influencers are bullish on PEPU’s upside potential, with many eyeing anywhere between 10x to 100x potential returns.
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Source: https://finbold.com/binance-futures-list-mog-coin-could-this-new-meme-coin-be-next/