Binance Delisting Sparks 300% MEMEFI Token Rally Amid Short Squeeze Frenzy

In a dramatic market twist, MemeFi's MEMEFI token skyrocketed over 300% within 24 hours following Binance's announcement to delist its perpetual contracts. The token surged from $0.002 to $0.0057 as traders rushed to cover short positions, generating a staggering $376 million trading volume spike. While the rally mirrors past delisting-induced volatility (such as ALPACA's historic pump), MEMEFI remains 80% below its all-time high, leaving analysts divided on its sustainability. This event highlights the extreme volatility crypto assets can exhibit during exchange-driven liquidity shocks, with Binance's market-moving power once again taking center stage.

MemeFi Token Surges 300% Amid Binance Delisting Frenzy

MemeFi's MEMEFI token rocketed over 300% in 24 hours following Binance's delisting announcement of its perpetual contracts. The token surged from $0.002 to $0.0057 as traders scrambled to cover short positions, triggering a $376 million volume spike.

Market observers note parallels to past delisting-induced volatility like ALPACA's rally, but skepticism remains. MEMEFI still trades 80% below its all-time high, with analysts cautioning the MOVE may be a short squeeze rather than fundamental strength.

Delhi High Court Demands WazirX Operator Zettai to Disclose Binance Agreement Details

The Delhi High Court has ordered Zettai Pte Ltd, operator of the embattled WazirX exchange, to submit its contractual agreement with Binance amid mounting scrutiny over ownership claims and post-hack restructuring plans. Justice Sachin Datta's August 5 directive compels the Singapore-based firm to file documents within seven days, including records from parallel Singapore High Court proceedings.

This judicial intervention follows WazirX's controversial restructuring revote, with creditors decrying opacity around the $235 million hack resolution. The exchange's ambiguous ties to Binance remain pivotal—while the global platform announced a 2019 acquisition intent, it later disavowed ownership in September 2024, calling WazirX's post-breach accountability efforts "a disappointing deflection tactic."

The court-mandated disclosure could finally unravel years of conflicting claims about operational control, particularly as investors seek clarity on fund recovery pathways. Legal observers note the order strategically targets cross-border jurisdictional complexities inherent in crypto exchange operations.

Unexpected Plunge Rocks TST Coin on Binance

TST, a cryptocurrency listed on Binance, experienced a dramatic and unexpected decline in early trading on August 7, 2025. Within just 15 minutes, its value plummeted from $0.04960 to $0.01547, marking a staggering 68% depreciation. The price later stabilized at $0.02498, resulting in a daily loss of 38.03%.

The sharp drop was accompanied by a surge in trading volume, as depicted by a long red candlestick on trading charts. Coinglass data revealed significant liquidations of Leveraged long positions in the derivatives market, exacerbating selling pressure. A Chinese blockchain journalist corroborated the event with shared screenshots, highlighting the severity of the move.

Around 4:00 AM, TST breached critical support levels in seconds, with trading volume spiking as the price collapsed. Despite a partial recovery, the coin struggled to reclaim the $0.03 threshold. Short-term moving averages suggest persistent bearish momentum, while volatility indicators point to continued wide price swings. Investors now eye the $0.020-$0.025 range as a temporary support zone.

Binance-Listed TST Token Plunges Over 68% in Minutes Amid Market Turmoil

The TST token, listed on Binance, experienced a dramatic collapse earlier today, shedding more than 68% of its value within 15 minutes. The price plummeted from $0.04960 to a low of $0.01547, erasing nearly $25 million in market capitalization.

Open interest for TST dropped sharply, declining over 35% across exchanges. Binance, the primary trading venue for the token, saw a 40% reduction in open interest. Current data shows $25.86 million in open interest, with Binance accounting for 58% of the total.

Trading volume surged 1,200% to $145 million as traders scrambled to navigate the volatility. The token has since recovered slightly but remains down 33% over the past 24 hours.

Originally an accidental disclosure by the BNB Chain team in February, TST gained traction among traders despite lacking official backing. Its rise and fall underscore the speculative nature of meme-driven assets in crypto markets.

Nexchain Presale Gains Momentum as Binance Dominates Derivatives Market

Nexchain's presale has surged past $8 million, with its NEX token priced at $0.096 ahead of a planned $0.30 listing. The project's 50% bonus offer expires tomorrow, adding urgency for potential investors. A public testnet launch on August 8 could further bolster interest in this blockchain infrastructure play.

Binance continues its derivatives market supremacy, posting $2.55 trillion in July futures volume - its strongest monthly performance in 2025. The exchange's dominance persists as newer projects like Nexchain enter the ecosystem.

PENGU Price Primed for $0.44 Amid Robinhood Listing & ETF Buzz

The PENGU price is exhibiting bullish momentum, bolstered by technical indicators and Robinhood's integration announcement. July's rally saw the meme coin peak at $0.0450, with minimal retracement in early August. The Relative Strength Index (RSI) remains above 50, signaling sustained upward potential.

Trading at $0.037068 on Binance, PENGU has gained 4% intraday, with a market cap of $2.33 billion. The coin's stability above the $0.0300-$0.0350 support zone reflects strong investor confidence. Robinhood's listing and ETF speculation could further propel its ascent.