mubarak Memecoin Soars on Binance Smart Chain
The memecoin Mubarak (MUBARAK) is causing a stir on Binance Smart Chain.ItS thanks to Changpeng Zhao’s backing adn its listing on Binance Alpha.
MUBARAK is now trading at $0.16, a 106% jump in a week. It briefly topped the BNB Chain memecoin market cap. Trading volume hit $180 million, as Root Data reports. Though it’s not number one now, it’s still in the top 5 by market cap, at $159 million.
Two things sparked this rise. First, MUBARAK’s listing on Binance Alpha. Second, Zhao bought 20,150 MUBARAK for 1BNB, worth $600 then. He also changed his X profile picture to him in traditional Arab dress.
However, Zhao says he didn’t cause the rally. He said, “People give me too much credit. It’s builders who’ve worked for years. I’m glad I may have ‘inspired’ millions to learn Arabic.”
Whether Zhao’s purchase fueled the rally or not, it’s a big deal. It might very well be his first memecoin investment. This might explain the token’s massive rise after his purchase.
The surge in trading activity is good for BNB Chain. Harrison Seletsky echoed this during TST’s rally in February. He said, “More memecoin trading would attract more users, increase liquidity, and engage the community.”
