Latest Update on MEMEAct and Meme Coins – May 7, 2025
🧾 1. $MEME Act – Proposed Ban on Political $MEME Coins
Today, U.S. House Democrats introduced a new bill titled the Modern Emoluments and Malfeasance Enforcement (MEME) Act.
This legislation aims to prohibit the President, Vice President, Members of Congress, top officials, and their families from launching, promoting, or profiting from personal meme coins such as $TRUMP.
The move is intended to prevent potential conflicts of interest and misuse of meme coins for personal financial gain.
Source: CryptoBriefing
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🚀 2. ACT and PNUT – Explosive Price Surges After Binance Listing
Meanwhile, two Solana-based meme coins, ACT (Act I: The AI Prophecy) and PNUT (Peanut the Squirrel), saw massive price jumps after being listed on Binance.
ACT surged 1,324%, reaching $0.3282.
PNUT jumped 353%, trading at $0.464.
These gains came after Binance announced zero trading fees and labeled the coins with a "Seed Tag", indicating they are new and potentially volatile.
Source: CryptoNews
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📊 Overall Meme Coin Market Overview
Total meme coin market cap rose 18.6% to $94.8 billion.
Political meme coins like $TRUMP and $MAGA have dropped 60–97% in value.
ACT and PNUT are currently among the top performing new meme coins.
Source: Binance
