Sui Memecoin HIPPO Surge 114% after Binance Listing

HIPPO, a new memecoin on the Sui blockchain, saw its price jump by 144% after being listed on Binance on Nov. 13.

The memecoin price went up by 144%, going from $0.012 to $0.024 in just a few hours after the listing announcement. The token’s trading volume also went up, reaching $106 million in one day.

As of press time, HIPPO now trades at $0.026, just $0.002 more to hit a new ATH, with a 9% surge to $181 million in total trading volume recorded in the last 24 hours and a 23% surge to $260 million in market cap.

HIPPO/USD Price Chart | Source: CoinMarketCap

The surge was due to Binance’s offer of up to 75x leverage on HIPPO futures. This means traders could trade much larger amounts than they actually owned.

HIPPO memecoin is inspired by a pygmy hippo named Su Deng, a character that has become a social media favorite. 

Moreover, other tokens like ACT and Pnut that were recently listed on Binance have also seen massive gains, with ACT rising by 2,954% and Pnut jumping 1,073% after listing.