Binance Listings Spark ‘God Candle’ Surge: ACT and PNUT Lead the Charge

ACT and PNUT explode as Binance accelerates new token listing led by a new meme coin meta and continued interest in AI.

On Nov. 11 at 10:00 UTC, Binance launched two Solana meme coins, Act 1: The AI Prophecy and Peanut the Squirrel, on its platform. Both meme coins respectively saw their market caps surge after receiving Binance listings.

The alt coin project Act 1: The AI Prophecy, also known as ACT , saw its market cap shoot up by 1199% to $279 million, according to data on DEX Screener. The Solana-based token is currently tracing at $0.2861 and witnessed a ‘god candle’ chart topping moment, in which it suddenly spiked after news broke of the Binance listing.

According to Lookonchain’s analysis, a trader who is part of the BWEnews team was able to capitalize on ACT’s Binance leap by exchanging $318,000 worth of Solana tokens with 10.9 million ACT meme coins. The trader was able to turn $318,000 into $3 million within seconds after Binance launched the meme coin on its exchange listing.

In the same second that #Binance announced the listing of the $ACT, he spent only 1,558 $SOL($318K) to buy 10.9M $ACT, now worth $3.4M!

— Lookonchain (@lookonchain) November 11, 2024

Similarly, the meme coin that pays tribute to the viral internet squirrel with the cowboy hat, PNUT , has been on a high-rise since its launch on Binance. The meme coin’s market cap increased by 208% to $339 million shortly after being listed on the major crypto exchange.

The squirrel-inspired meme coin is currently trading at $0.3792.

A trader was able to gain a floating profit of $10.53 million from a $2.19 million investment into the PNUT token. Thanks to the meme coin’s Binance listing, the trader was able to gain a return rate of nearly 478%.

The PNUT meme coin saw a price surge within minutes of its Binance listing, November 11, 2024 | Source: DEX Screener

Binance leap of faith

PNUT and ACT are not rare cases. According to on-chain analyst @ai_9684xtpa, around 80% of the listed meme coins have seen their market caps skyrocket since launching on Binance. The meme coin NEIRO in particular, saw its market cap jump as high as 7594% within hours of listing on Binance.

Based on @ai_9684xtpa’s analysis, more than 80% of the new meme coins launched on Binance are animal-related memes, like MOODENG and PNUT, leading to what many speculate as a new meme coin meta in the crypto industry after Bitcoin surged to new all-time high on Nov. 10.