Mubarak Meme Coin Surges 466.68% in Two Days, Boosted by Binance Support

Mubarak, a meme coin launched on the Binance Chain on March 16, has seen remarkable growth, with its market capitalization surpassing $200 million in just two days. The coin's price has increased by 41% in the last 24 hours, reaching a peak of $0.206730, which is a 466.68% increase from its initial price of $0.03648092. As of now, the price of Mubarak stands at $0.1839, marking an 11.03% decrease from its peak.

An early trader of Mubarak has made a significant return on investment, converting a $232 investment into $1.1 million. The trader initially purchased at least 10.5 million Mubarak tokens using 0.4 BNB tokens, worth $232. Later, the trader sold a portion of their holdings for at least 576 BNB, valued at approximately $363,500. Despite this, the trader still holds no fewer than 5.16 million Mubarak tokens.

The rally of Mubarak has been attributed to the investment made by Changpeng Zhao, the founder of Binance, who recently purchased at least $600 worth of Mubarak. Zhao's controversial statements have sparked speculations about his strong connections with the meme coin. Additionally, Binance has extended support to Mubarak by planning to launch a MUBARAK/USDT perpetual contract, which has significantly benefited the meme coin.

Crypto analysts, including Thanos, have expressed optimism about the future growth potential of Mubarak. Thanos notes that investing in this meme coin is a “no-brainer” investment decision in the current market scenario. The support from Binance and the positive outlook from analysts have contributed to the meme coin's impressive performance.