Binance announced it has invested in Memecoin (MEME) through its venture capital and incubation arm, Binance Labs. Memecoin was exchange’s Lauchpool project in October. After the announcement, the price increased by 30 percent.

The madness of meme coins also led Binance Labs to take action. The company invested in Memecoin (MEME), which it announced as a Lauchpool project in October.

Memecoin, a token of the Memeland ecosystem which is built by the creators of the 9GAG platform, aims to unite communities and content creators.

The 9GAG platform, which has held an important place in social media for many years, has more than 200 million users worldwide…

Meme coin madness continues…

After Binance’s announcement, MEME price saw a 30% upside move. As it is known, meme coins have become the most preferred cryptos for the investors, especially in the last period of 2023. Additionally, the Avalanche Foundation announced last week the organization will buy meme coins on its network if they meet certain standards.

Following the madness of DOGE and SHIB in 2021, PEPE in 2022 and BRC-20 meme coins in 2023, investor interest in this area has been increasing in recent weeks.

The tokens that have attracted the most interest were Solana-based meme coins. Some of these tokens have gained tens of times in value in just a few weeks.