The Mubarak meme coin, launched on the Binance Smart Chain, has taken the market by storm

This surge has pushed the coin's value to $0.1905 and driven its market capitalization to an impressive $200 million, just two days after its debut.

The meme coin has seen some staggering activity levels.

The Mubarak meme coin, launched on the Binance Smart Chain, has taken the market by storm, seeing an astonishing 70% spike in trading activity within a single day.

This surge has pushed the coin’s value to $0.1905 and driven its market capitalization to an impressive $200 million, just two days after its debut. One early investor has managed to turn a modest $232 investment into a staggering $1.1 million, realizing a 4,860x return.

According to data from blockchain analysis platform LookonChain, this investor, who began accumulating $MUBARAK tokens on April 26, had invested 0.4 BNB (approximately $232) to purchase 10.5 million tokens at an average price of $0.022.

After selling a portion of their holdings for 576 BNB, valued at around $363,500, the trader now retains over 5 million tokens, which are still being held across multiple wallets.

What fueled the frenzy surrounding Mubarak?

The meme coin’s rapid rise can be attributed to several events. Binance founder Changpeng Zhao’s backing provided a significant boost, spurring traders to take notice and invest in the coin.

Furthermore, the coin’s recent listing on the Binance Alpha platform at the beginning of May massively increased its visibility and popularity, leading to a dramatic surge in its trading volume.

This interest was further amplified by the coin’s inclusion in the Binance Futures market, which sparked a final round of buying activity and ultimately led to Mubarak’s price encountering resistance at the $0.20 mark.

At times, the coin’s price experienced triple-digit percentage increases within a single day as it soared from $0.01 to $0.19, fueled by the massive influx of liquidity from traders eager to capitalize on the meme coin’s sudden rise to fame.

As the coin continues to gain traction, there might be potential for more gains, according to crypto analyst Thanos, who has expressed strong bullish sentiment on the coin, calling it a “no-brainer” investment at its current price.

However, he also noted that the market correction following the Binance Futures listing had cleared out overleveraged positions, which could leave room for potential losses for those who entered the trade too late.