#BNBChainMeme

In November 2024, Binance, one of the world’s largest cryptocurrency exchanges, announced the listing of the Sui Network-based meme coin known as HIPPO. The news broke on November 13, and within minutes of the announcement, the price of HIPPO soared by 90%, reaching $$ 0.022. Prior to the announcement, the token was trading at $$ 0.012, with trading volume quickly reaching $$ 100 million.

In addition to HIPPO, Binance has continued to expand its list of meme coins, including tokens such as Pudgy Penguins (PENGU) and Simon’s Cat (CAT). The listing of these coins resulted in significant increases in their prices. For example, the CAT token has seen a surge of over 60% to an all-time high of $$ 0.00006811, bringing its market cap to $$ 439 million.

The inclusion of these meme coins on the Binance platform has sparked debate in the crypto community. Binance CMO Rachel Conlan stated that meme coin listings are not guaranteed and that the exchange considers several factors, including community feedback and contributions, as well as the actual utility of the tokens. She emphasized the importance of projects that offer real use cases, especially in a rapidly evolving market.

Binance’s strategy of listing meme coins reflects a growing trend in the cryptocurrency market, where meme-based tokens are rapidly gaining popularity. However, this approach also raises questions about the sustainability and intrinsic value of these assets in the long term.