The world’s largest crypto exchange Binance on Monday announced the listing of two new meme coins: ACT I: The AI Prophecy (ACT) and Peanut the Squirrel (PNUT). The news has led to major price spikes for both tokens, with ACT price up over 1,300% and PNUT price rising by 250%.
ACT and PNUT gaining significant interest similar to other top Solana meme coins in the crypto community after listing on the crypto exchange.
According to Binance official announcement, the exchange will open spot trading for ACT and PNUT starting November 11. Users can trade these coins in ACT/USDT and PNUT/USDT pairs. Withdrawals will be open from November 12, adding liquidity options for both tokens. This sparked a massive jump in ACT and PNUT price.
Both ACT and PNUT listed with Binance Seed Tag applied, indicating they come with higher volatility and risk. ACT I: The AI Prophecy coin adds an AI-themed twist to the meme coin space. Peanut the Squirrel joins ACT as another playful addition for speculative traders on the exchange.
However, users in certain regions, including the United States, Canada, and the Netherlands, will be restricted from trading ACT and PNUT. These limitations follow compliance efforts to meet regional regulations and ensure user safety.
Experts such as Leonidas warned that Binance has turned into a “pump and dump” engine that is knowingly harming retail investors and creating an unhealthy meme coin market. Whales and big investors usually purchase and sell these tokens after a few hours and week trapping small investors, some crypto participants claimed.
ACT price is currently trading at $0.35, up 1,300% in the last 24 hours, with a high of $0.36 and a low of $0.019. The token’s trading volume increased almost 4000% over the last day, indicating strong market interest.
Meanwhile, PNUT price trades at $0.37, marking a 250% gain in the last 24 hours. The 24-hour high and low are $0.42 and $0.091, respectively. The 24-hour volume stands at $306 million, further showcasing the token’s growing popularity.
The increase in ACT price aligns with the ongoing meme coin season. The trend recently saw Dogecoin rise to the sixth position, surpassing XRP and USDC.
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