2023-11-3 17:30 |
Memecoin (MEME) was recently listed on Binance, sparking interest from blockchain analysis firm Lookonchain to investigate Memecoin’s tokenomics and on-chain activity following the listing.
Token Supply and DistributionAccording to Lookonchain, the total supply of MEME is 69 billion. On listing, the circulating supply was 8.8 billion MEME, equal to 12.75% of total supply.
Lookonchain provided a breakdown of the token distribution:
2% (1.38 billion MEME) to Binance Launchpool, deposited to Binance 6 days pre-listing 11% (7.59 billion) for Community Fire Sale at $0.001 per token 12% (8.28 billion) to private sale investors at $0.001 per token 25% (17.25 billion) for airdrop campaigns Post-Listing Token FlowsAnalyzing the top 10 airdrop recipients, Lookonchain discovered 7 of them quickly transferred 214.88 million MEME (worth $4.8 million) to exchanges after receiving the free tokens.
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In summary, Lookonchain’s on-chain investigation revealed where Memecoin tokens were distributed before being listed on Binance and that majority of airdropped tokens were swiftly sold, providing insights into the tokenomics and flows.
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The post Memecoin’s Journey to Binance: MEME On-Chain Data After Major Exchange Listing appeared first on CaptainAltcoin.
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