The Cheems (CHEEMS) meme coin is surging by 18% today and has reached a market cap of $210 million, while it has accumulated gains of 52.4% in the past week after Binance announced its global listing.
This uptick occurs despite a 65% drop in CHEEMS’s trading volume. At the time of writing, the price also stands just 25.6% below its all-time high from November 25, 2024.
We made it ✅#CheemsBSC #CheemsArmy $Cheems https://t.co/1mQZXCTNvL
— Cheems (@LordCheems_bsc) February 9, 2025
Back on February 9, Binance announced that it would list 1000CHEEMS – a version of the meme coin that simplifies its price by removing three zeroes from its quoted value.
The token was listed alongside the controversial Test (TST) token and was immediately available through the trading pairs 1000CHEMS/USDT and 1000CHEMS/USDC in Binance’s spot market.
The exchange already accounts for 55.4% of the meme coin’s total trading volume, emphasizing the importance of a listing to propel its liquidity and raise awareness about its community-driven ethos.
Was the CHEEMS Listing Fair? Crypto Community Forces CZ to Explain How the Listing Process Works
Cheems is entirely governed by token holders. The project has no ambitions but does feature a charitable effort that involves donating money to pet shelters and pet care initiatives.
Thus far, the Cheems project has donated $100,000, according to information found on its official website.
As a result of CHEEMS and TST’s hasty listings, the public questioned Binance’s approach and procedure to vet and approve the tokens that will be included in its platform.
These two assets were minted on the BNB Smart Chain and that sole fact drew scrutiny from the crypto community amid an apparent bias and favoritism toward BNB-based meme coins.
The founder of Binance, Changpeng Zhao, was among those who questioned the proceeding as he is no longer the Chief Executive Officer of the crypto exchange.
From a technical standpoint, the daily chart for CHEEMS shows the significant uptick that followed the Binance listing. The price reached a peak of $0.0000016863 but has dropped sharply off those levels as it is currently trading at $0.0000011444.
Momentum indicators have been rising despite this decline, and the Relative Strength Index (RSI) shows a spike above the signal line, which confirms a bullish short-term outlook.
That explains why CHEEMS is rising today. However, the RSI is already entering overbought levels meaning that a pullback could be about to occur. As the tailwind from the Binance listing fades, chances are that CHEEMS could go down to its trend line support later on.
CHEEMS’s prospects are a bit unclear, but Solaxy ($SOLX) embraces both the meme coin frenzy and the robustness of utility tokens. Its presale event is rapidly becoming one of the best ICOs of the year less than two months after its launch and there’s still time to invest in it.
Solaxy ($SOLX) Raises $20M to Solve Solana’s Congestion Issues
Solaxy ($SOLX) is a layer-two Solana scaling solution that aims to solve the congestion issues that are still undermining the blockchain’s reputation.
The launch of $TRUMP demonstrated that the network still struggles to keep up during peak usage periods.
Solaxy solves this by bundling and processing transactions in parallel before sending them to the mainnet to ensure that a higher number of TXs are added to a single block.
The developing team has already provided a couple of positive updates concerning the L2’s deployment and implementation. This is probably the reason why investors have poured $20.1 million already into the project.
At its discounted price of $0.001632, the native asset of this L2, $SOLX, offers significant upside potential to early buyers. In addition, those who stake their tokens to secure the network can earn a 202% annual percentage yield (APY) on their investment.
To buy $SOLX, head to the Solaxy website and connect your wallet. You can either swap BNB, ETH, or USDT or use a bank card to make your investment.
