The Mubarak meme coin, launched on the BNB Chain, surged by 300% in a single day. This coincided with rumors of involvement by Binance's founder, Changpeng Zhao (CZ).
The Impressive Spike of Mubarak
Mubarak, a recent addition to the BNB Chain, has seen a remarkable boost of nearly 300%, reaching a price of about $0.13 and a market capitalization of $120 million.
The Role of CZ and Binance Alpha
Binance founder CZ reportedly purchased the Mubarak meme coin and TST, sparking surprise given his previous statements about such assets. Analysts also associate the project's success with the Binance Alpha initiative, which supports innovative projects, including meme coins.
A Successful Trading Deal
An investor who bought 12.35 million Mubarak tokens spent less than $5,000 and managed to sell part of the assets for 125 BNB, achieving significant profit. After the price surge, the value of the remaining tokens is estimated at $1.3 million.
The Mubarak meme coin has shown a spectacular increase, drawing interest from the crypto community. However, market participants should consider the potential for correction after such sharp upswings.
