Binance Lists Memecoin; But Where Did MEME Go?

Published: Nov 3, 2023
Written By:
Vignesh Karunanidhi
Milk Road Writer

Memecoin saw major on-chain activity and exchange deposits following its high-profile Binance listing. On-chain analytics firm Lookonchain provided detailed breakdowns of Memecoin’s tokenomics and post-listing token movements.

According to Lookonchain, the total supply of Memecoin is 69 billion tokens. 8,797,500,000 MEME were circulating initially when Memecoin was listed on Binance, equaling 12.75% of the total supply.

The team provided a full token distribution analysis:

  • Total Supply: 69 billion MEME
  • Initial Circulating Supply: 8,797,500,000 MEME

Lookonchain also outlined the token allocation percentages:

  • Binance Launchpool – 2%
    • 1.38 billion MEME
  • Community Fire Sale – 11%
    • 7.59 billion MEME
  • Investors (Private Sale) – 12%
    • 8.28 billion MEME
  • Airdrop – 25%
    • 17.25 billion MEME
  • Ecosystem – 30%
    • 20.7 billion MEME
  • Advisors – 3%
    • 2.07 billion MEME
  • Contributors – 17%
    • 11.73 billion MEME

Post-listing MEME movements

Lookonchain analyzed on-chain data, tracing Memecoin’s flow after listing:

  • The team provided 10 million MEME as liquidity on DEXs.
  • Approximately 670 million MEME worth $15 million was deposited on exchanges including Binance, OKX, Bybit, KuCoin, Gateio, and Huobi, likely for market making.
  • Of the top 10 airdrop recipients, seven deposited around 214.88 million MEME worth $4.8 million in exchanges.
  • Significant portions of the private and presale allocations also flowed into exchanges after listing.

The listing of Memecoin on Binance has brought the token into the limelight. Taking a closer look at Binance reveals that the 24-hour low price of MEME was $0.00100, exhibiting a +2743% surge after the listing.

MEME is currently trading at $0.028439 at press time, with the prices exhibiting notable volatility. Investors and traders should stay cautious during this period, as the price could go in either direction.

Vignesh Karunanidhi
Milk Road Writer
Vignesh has been a seasoned professional in the crypto space since 2017. He has been writing for over 5 years and specializes in writing and editing various types of crypto content, including news articles, long-form pieces, and blog posts, all focused on sharing the beauty of blockchain and crypto.