Solana Memecoin Frenzy Cools Down After Binance Listing

• Solana memecoins PNUT and ACT are down 10.38% and 9.48% in the past day.
• PNUT and ACT have crashed 36.94% and 43.34% in the past week alone.
• Largest Solana memecoin BONK has surged 31% in the last seven days.

Despite Bitcoin reaching a new all-time high, the memecoin frenzy on the Solana blockchain appears to be cooling down. Solana memecoins, Peanut the Squirrel (PNUT) and Act I: The AI Prophecy (ACT), have experienced significant price drops following their recent listing on Binance. This downturn casts a shadow on the sustainability of the memecoin hype and highlights the risks of investing in such volatile assets.

Both got listed on Binance, the world’s largest digital asset trading platform but both crashed significantly; PNUT by 10.38% to $1.44 and ACT by 9.48% to $0.4791.

Read also: PEPE, PNUT, and PONKE: The Memecoin Trifecta Taking Over

In the past seven days alone, ACT has crashed 43.34%, while PNUT has lost 36.94% of its value. PNUT is trading at a 40.72% discount to its all-time high of $1.44, while ACT is down 48.61% from its all-time high of $0.942.

Before their Binance listing, these cryptocurrencies had seen monumental gains. Accordin…

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