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The cryptocurrency market in 2024 experienced a significant surge in meme token trading, presenting both challenges and opportunities for exchanges. In November 2024, platforms like Pumpfun saw the launch of over 1.2 million new meme tokens, indicating heightened retail investor activity.
Notable trends during this period included WIF's continued price surge, BOME's 1000x rally following its Binance listing, and GOAT's single-day 100x price spike. Additionally, AI Agent-related meme tokens fueled on-chain mining narratives, highlighting the evolving dynamics between investor sentiment, exchange listing strategies, and market trends.
According to DWF, the meme token market capitalization skyrocketed by 500% in 2024, reaching $120 billion. The rapid influx of new tokens is evident, with 1.248 million meme tokens launched on Pumpfun in November alone, reflecting growing retail speculation and market liquidity.
These trends underscore the shifting dynamics between investor sentiment, exchange listing strategies, and meme coin market cycles.
A new listing analysis of six major exchanges — Binance, OKX, Bybit, Bitget, MEXC, and Gate.io — reveals stark differences in how platforms approach meme tokens. MEXC has emerged as the dominant exchange in this sector, securing a first-mover advantage with 51 first-time launches. It is followed by Gate (9 first listings) and Bitget (7 first listings), while Binance, OKX, and Bybit had none.
Beyond first launches, MEXC also led in total meme token listings, with 72 of the 77 most popular meme coins (93.5%) available on its platform. Gate.io followed with 66 listings (85.7%), far outpacing major exchanges like Binance (13 tokens) and OKX (17 tokens), which took a more selective approach.
As the meme coin sector continues evolving, the divide between aggressive and conservative listing strategies is shaping how exchanges compete for market share. While platforms like Binance and OKX favor risk-averse approaches, MEXC’s rapid adoption of trending tokens has positioned it as the go-to exchange for meme coin traders.
MEXC’s expedited listing processes, which integrate automated market analytics and real-time liquidity tracking, have allowed it to list tokens faster than competitors — often within hours. By combining high-speed token approvals with ongoing market monitoring, the exchange caters to traders seeking early exposure to high-volatility assets, in contrast to larger platforms that prioritize regulatory compliance and long-term sustainability.
In 2024, TokenInsight’s 2024 Annual Report ranked MEXC 6th globally for spot trading volume and 5th for futures trading volume, standing out for its liquidity depth. The platform's spot market depth of $31.1 billion is the highest in its category, while futures market depth surpasses $9.1 billion.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
