Mubarak Meme Coin Price Surges 325% Following Changpeng Zhao’s Investment
Binance's BNB Chain-based meme coin, Mubarak (MUBARAK), has experienced a trading surge, rising 325% to $0.1238 with a market cap of $148 million after Binance founder Changpeng Zhao (CZ) bought 1 BNB worth approximately $600 through PancakeSwap. This transaction was reported by Lookonchain.
Key points include:
- Purchase of 20,150 MUBARAK tokens and another investment in Test (TST).
- Mubarak launched on March 14, 2023, on the Four.Meme platform.
- Price increased from a $6,000 valuation at launch to a $100 million market cap.
- An early investor gained over $521,000 from an initial investment of about $4,947.
The BNB Chain also surpassed Solana in DEX volume, reaching $1.64 billion in 24 hours, driven by meme coin popularity. PancakeSwap led as the top-performing DEX during this period.