{"id":29222,"date":"2024-12-17T20:15:30","date_gmt":"2024-12-17T20:15:30","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=29222"},"modified":"2024-12-17T20:15:30","modified_gmt":"2024-12-17T20:15:30","slug":"this-meme-coin-jumps-by-50-following-further-support-from-binance","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=29222","title":{"rendered":"This Meme Coin Jumps by 50% Following Further Support From Binance"},"content":{"rendered":"

TL;DR<\/strong><\/p>\n

Binance expanded support for Simon\u2019s Cat (CAT) by including it in multiple trading programs.<\/span>
\nThe token reacted to the news with a rapid price increase.<\/p>\n

<\/a><\/span><\/h2>\n

The Binance-Fueled Pump<\/h2>\n

The world\u2019s biggest cryptocurrency exchange recently added further support for the meme coin launched on the BNB chain \u2013 Simon\u2019s Cat (CAT). First, it <\/span>included<\/span><\/a> it in its\u00a0HODLer Airdrops Portal. The program rewards BNB holders with token distributions based on historical snapshots of their balances. <\/span><\/p>\n

\u201cBy subscribing BNB to Simple Earn, users are automatically eligible for HODLer Airdrops (as well as Launchpool and Megadrop rewards),\u201d Binance explained.<\/span><\/p>\n

The company said it will distribute 1,143,000,000,000 CAT (12.7% of the token\u2019s maximum supply) to lucky users.<\/span><\/p>\n

Shortly after, Binance listed the meme coin with a seed tag. The <\/span>exact<\/span> trading pairs available to users are CAT\/USDT, CAT\/BNB, CAT\/FDUSD, and CAT\/TRY. It is worth noting that the seed tag category identifies newly listed and innovative cryptocurrency projects that may carry higher risk and volatility.<\/span><\/p>\n

Earlier today (December 17), the exchange doubled down on its support for Simon\u2019s Cat, adding<\/a> it to the Binance Simple Earn, \u201cBuy Crypto,\u201d Binance Convert, Binance Margin, Binance Auto-Invest, and Binance Futures programs.\u00a0<\/span><\/p>\n

Somewhat <\/span>expectedly<\/span>, the <\/span>aforementioned efforts<\/span> resulted in a massive price spike for CAT. Its valuation soared by approximately 50% <\/span>on a daily scale<\/span>, hitting a new all-time high of $0.00006330 (per CoinGecko\u2019s data). In the following hours, the price slightly retraced to the current $0.00005597.<\/span><\/p>\n

<\/a>CAT Price, Source: CoinGecko<\/p>\n

The Previous Support<\/span><\/h2>\n

Binance initially embraced Simon\u2019s Cat <\/span>in October of this year<\/span> when it introduced<\/a> 1000CATUSDT perpetual contracts\u00a0in its\u00a0futures program.<\/span> The offering allows up to 75x leverage and supports the multi-assets mode. In other words, it enables clients to use numerous margin assets such as Bitcoin (BTC) when trading the contract.\u00a0<\/span><\/p>\n

Perpetual contracts let traders bet on the price movements of a certain token without directly owning it. With no expiration date, they can <\/span>be held<\/span> indefinitely. While such <\/span>contracts<\/span> offer opportunities for significant rewards, the high leverage and constant exposure to liquidation make them inherently risky, especially for inexperienced traders.<\/span><\/p>\n

Other meme coins that have recently enjoyed additional support from Binance include <\/span>Peanut the Squirrel (PNUT)<\/span><\/a>, Pepe (PEPE), <\/span>Ponke (PONKE)<\/span><\/a>, and others.\u00a0<\/span><\/p>\n

The post This Meme Coin Jumps by 50% Following Further Support From Binance<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

TL;DR Binance expanded support for Simon\u2019s Cat (CAT) by including it in multiple trading programs. The token reacted to the news with a rapid price increase. The Binance-Fueled Pump The world\u2019s biggest cryptocurrency exchange recently added further support for the meme coin launched on the BNB chain \u2013 Simon\u2019s Cat (CAT). First, it included it […]<\/p>\n","protected":false},"author":0,"featured_media":29223,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-29222","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/29222"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=29222"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/29222\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/29223"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=29222"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=29222"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=29222"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}