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Binance, the known crypto exchange, listed Mubarak after it received a favorable response to the community listing vote, yet the listing also failed to hold the price as a decline was observed after it got on Binance.
Until publishing, the Mubarak token was trading at $0.09625 with a loss of 38.64%. Its market capitalization was $95.74 million, which is down by 39%, and its volume was $315 million.
Mubarak coin has been in hype since the last quarter of 2024, but it was launched in March this year, and till then, to date, its highest trading price is $0.2158, and its lowest traded at $0.06019.
Mubarak BSC-based memecoin capturing trading attention
As per the information, the Mubarak coin is based on Binance Smart Chain (BSC), and it 1st came into existence after a $2 million investment from an Abu Dhabi-based fund.
The FDV of the Mubarak coin is $93.86 million, and the total supply is 1 B. It is worth noting that its circulating supply and total supply are the same, which indicates that the entire minted stash is in circulation.
Data available on BSCScan(dot)Com notes that the total holders of Mubarak coins is 22,327 addresses. Other than the recent Binance listing, it is also listed in Bitget, MEXC, Gate, BingX, and HTX.
As per market experts, the close ties of the Mubarak coin with the evolving crypto hub of the United Arab Emirates have spread a positive outlook among investors, as it is termed one of the regions with the most favorable set of rules for the digital asset market.
Once again, memecoins are back in the game!
From the beginning of 2024 till the year, the hype of the memecoin market was at its peak, but the market capitalization saw a record loss, and when writing, it was $51.90 billion with a loss of 7.60% intraday.
A report by Chainplay says that the failure rate in the memecoin market was more than 95% in the previous year, and these incidents have shocked the market with a loss of over $2 billion.
Several other available reports allege that the Solana blockchain is one of the top ones through which bogus and scammy memecoin were launched.
A token named Hawk Tauh also troubled the investors and the Gen Z memecoin scam. The market cap is expected to reach $200 billion by the end of 2028.
In terms of market capitalization, Dogecoin is at the top of the list, followed by Shiba Inu, Pepe, Official Trump, Bonk, Floki Inu, and Fartcoin.
Worth noting the crypto market cap is down by 3.45% at $2.76 trillion, and the fear and greed are at 33, indicating fear in the wider market.
