Binance’s recent tweet acted as a catalyst to pump up the trading price of Mumu/Bull tokens.
Binance is the largest crypto exchange volume on this platform in terms of crypto trading volume per 24 hours. This exchange was launched in July 2017 and within a few years it secured a top position, thanks to its easy-to-use, highly secured crypto trading services. Currently, this exchange is having a hard time in Nigeria and the American crypto market.
On March 21, 2024, the Binance team tweeted a single emoji of a bull.
Amid the crypto bull phase, the Binance team tried to create more push in the bull sentiments with this bull emoji, but many crypto traders took this tweet as an opportunity to make money.
This tweet acted as a catalyst to rapidly increase the trading price of Bull animal-themed crypto tokens.
This rapid rise in the trading price of meme tokens is a very big proof that the hype around meme crypto tokens is very high and almost everyone in this space is willing to invest in meme tokens in very small amounts.
It is worth noting that the number of new tokens being born on the Solala network is increasing rapidly. In the past week, we reported that the Solana Network saw an average of 7.8k new SPL tokens released on Solana per day over the past few weeks.
However, some people turn their small investment into a very large amount by investing in these meme tokens, but the majority of them lose but do not lose hope.
Many bad actors are taking advantage of this meme token trend and easily get funded through the pre-sale of new meme tokens without the need for a trust level.
Popular crypto detective ZachXBT reported that many bad actors were offering fake meme tokens for presale and making off with money.
In the latest report, ZachXBT reported how a developer successfully raised 877 Ethereum (ETH) through the pre-sale of a new token on the Base network and stole $900k right after the fundraising.
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