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The price of Koma Inu (KOMA) skyrocketed by 650% over the last 7 days after its listing on MEXC before undergoing a 30% correction.
According to CoinGecko, KOMA began the week priced at $0.012 and surged to $0.09 by November 17, marking the coin’s new all-time high (ATH).
However, as of writing, KOMA has experienced a 30% correction, bringing the price back to approximately $0.07 from its ATH.
Why Did KOMA’s Price Soar by Over 500%?
KOMA is a meme coin running on the BNB Chain. The project cleverly adapts Donald Trump’s slogan “Make America Great Again” to “Make BNB Great Again” in its social media branding.
On November 17, KOMA announced its listing on the centralized exchange (CEX) MEXC, which helped drive the surge in price.
The 1st of many big announcements to come ?? Koma is now live trading on @MEXC_Official pic.twitter.com/VbsaNl1H8b
— Koma (@komabnb) November 17, 2024
Notably, KOMA is currently only traded on two CEXs, with 16.47% of its trading volume coming from MEXC and 1.21% from BingX.
The majority of KOMA’s trading takes place on the decentralized exchange (DEX) PancakeSwap (v2), where it is paired with Wrapped BNB (WBNB), accounting for 80.9% of the trading volume.
Meme Coins Continue to Lead the Market
The meme coin market has been attracting significant attention recently, with new projects that can generate 10x to 100x returns in a single day.
For example, Act I: The AI Prophecy (ACT) has seen a 2,200% increase after listing on Binance.
According to data from Dune, meme coins have dominated the crypto market narrative over the past 3 months, delivering an impressive 145% growth.
In second place are DeFi 2.0 and Layer 1 (L1) coins, which have grown by 63% and 59%, respectively.
