Binance has shown a significant proclivity towards listing meme coins, much more than it did in previous cycles. Perhaps, the world's largest crypto exchange also believes that a meme coin supercycle is right around the corner.

Binance Futures has launched a USD?-Margined $CAT Perpetual Contract on October 21st. The meme coin is now up by nearly 50% following the listing.

Binance has shown a significant proclivity towards listing meme coins, perhaps indicating their belief in an impending meme coin supercycle. Binance Futures listed Simon’s Cat on Monday.

Moreover, there is also speculation on which meme coins could be next to list on Binance, with Sundog, Degen and Pepe Unchained among the frontrunners.Binance Futures Lists Simon’s Cat

Binance has listed a noticeably large number of meme coins compared to previous cycles. Perhaps the world’s largest crypto exchange also believes that a meme coin supercycle is on the horizon.

Binance Futures listed Simon’s Cat on Monday, a Binance Smart Chain-based meme coin. There is also speculation that a Binance spot listing could be next for CAT.

#Binance Futures will launch the USD?-Margined $CAT Perpetual Contract at

?? Oct 21 2024, 12:30 (UTC)

Read more ? https://t.co/oS8dXwAQma pic.twitter.com/fJENJn1Ktl

The meme coin is currently trading at $0.000036, with a market capitalization of $244 million. Notably, the listing saw the meme coin shoot up by 50% in value.

Moreover, its daily trading volume is also up by 1,100%, hovering around the $300 million mark at press time.

Interestingly, Binance Futures is already contributing to $73 million in Perpetual volume following the listing. However, experts believe that Simon’s Cat is still largely undervalued.

For instance, prominent crypto trader Unipcs – aka ‘Bonk Guy’ with nearly 50k X followers – has opened his first-ever leveraged long position on CAT. He highlights the meme coin’s social following, the backing from Floki and a potential Binance spot listing as the key reasons behind his bullish stance.

Similarly, popular crypto investor The Alchemist projects that Simon’s Cat is headed to the billion-dollar mark, especially after breaching the upper trendline of its descending wedge.

TraderSZ – the popular crypto influencer with over 600k X followers – is also bullish on the meme coin. Notably, he was also one of the early investors in NEIRO token, even before its surprising Binance spot listing.

In fact, Simon’s Cat does have one key similarity with First Neiro On Ethereum – they both were low-cap meme coins before their Binance listing. NEIRO had a valuation of just $15 million while CAT was hovering near the $160 million mark.

Binance co-founder He Yi has already announced that Binance will be looking to onboard low-cap meme coins with high decentralization, aiming to rekindle the anti-Wall Street spirit of the sector.

Which Meme Coins Could List Next On Binance?

In light of the coming meme coin supercycle, it is unlikely that Binance will stop its meme coin listing spree anytime soon. Consequently, smart money investors are attempting to guess and front-run the next potential Binance listings.

Sundog – the top Tron meme coin – is one of the frontrunners. SUNDOG has a partnership with First Neiro On Ethereum as well as strong support from Tron co-founder Justin Sun.

Degen is another meme coin that could be listed on Binance. It is another low-cap meme coin with a market cap of just $125 million. It was also recently listed on Coinbase, which further improves its odds.

Finally, Pepe Unchained (PEPU) has been gaining significant traction as a potential low-cap project that

The above is the detailed content of Binance Futures Lists Simon's Cat – Is It The Next Billion Dollar Meme Coin?. For more information, please follow other related articles on the PHP Chinese website!