Binance announced adding Solana meme coins POPCAT & MEW to its futures copy trading platform, raising expectations for future pricing.
On Tuesday, Binance, a major cryptocurrency exchange, announced the addition of perpetual contracts for meme coins POPCAT and MEW (Cat in a Dogs World) to its futures copy trading platform.
This new offering has led market analysts to speculate on the potential for a price rally for these Solana-based meme coins.
Binance Expands POPCAT & MEW Offerings, Boosting Market Sentiment
According to Binance’s official announcement on November 5, the exchange introduced USD-Margined perpetual contracts for POPCATUSDT and MEWUSDT to its copy trading division as of 09:00 UTC.
This division allows users to “copy experienced traders’ portfolios in real time,” which could attract more investors looking to leverage experienced trading strategies for greater returns.
The introduction of these contracts is anticipated to increase demand, possibly sparking a shift in sentiment towards a bullish trend for the meme coins.
As new buyers participate to mirror seasoned traders’ positions, the added buying pressure may drive a price rally.
Market watchers are optimistic that the expansion of Binance’s offerings will benefit these meme tokens.
Will Solana Meme Coins Surge?
Following the announcement, POPCAT’s price rose nearly 4%, reaching $1.30, with an intraday range of $1.19 to $1.31.
Similarly, MEW gained about 2%, trading at $0.008332 with a 24-hour low of $0.00765 and a high of $0.008528.
These gains align with the latest trading options introduced by Binance, reinforcing positive market sentiment.
Additionally, Binance’s recent listing of Solana-based token PONKE triggered an initial price surge; however, PONKE declined by nearly 4% today to $0.4352, introducing mixed reactions among traders regarding Solana meme coin trends.
Meanwhile, GOAT extended its weekly gains to nearly 200% following its recent futures listing on Binance.
Although market sentiment remains cautiously optimistic, the future of POPCAT and MEW prices is uncertain amidst these new listings and heightened interest.
