ACT, a Solana-based memecoin, skyrocketed by 1,720% following its listing on Binance and Crypto.com, significantly boosting its market cap from $20 million to $422 million.
The surge in ACT's value coincided with a record high for Bitcoin, emphasizing a broader trend in the memecoin sector, which saw notable increases in trading volume.
The token's trading volume topped $350 million, with $293 million on Raydium and $60 million on Binance, reflecting intense market interest and activity.
Despite its meteoric rise, ACT's market depth is shallow, indicating further volatility is expected, as small market sell orders could significantly impact its price.
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