#MEMEAct Solana Memecoin (ACT) skyrockets 1,720% after listing on Binance as the altcoin market heats up

A Solana-based memecoin called "Act I: The AI Prophecy" (ACT) has surged over 1,720% after being listed on Binance and Crypto.

The token was initially issued on October 19 and hovered around $20 million in market capitalization over the weekend. Its listing triggered an explosive increase in trading volume, with $293 million recorded on the decentralized exchange platform Raydium and $60 million on Binance. At the time of this writing, its market capitalization had risen to $422 million.

The rally comes alongside a new record for Bitcoin

BTC

$96,951.29

, with the original cryptocurrency trading at $82,120, amid renewed optimism following the election of Donald Trump, a cryptocurrency-friendly president, in the United States. Memecoins have led the market surge this week, with Dogecoin $0.17275 and dogwifhat rising 21% and 22% respectively.