Memecoin (MEME) Sees Meteoric Rise After Major Investment From Binance Labs
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- Following the announcement, MEME experienced a brief spike in price to $0.03 before undergoing a subsequent correction. As of the latest update, 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 probable rejection 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.
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