Why Did Mubarak ($MUBARAK) Memecoin Explode 200% in 24 Hours?

As the crypto market slowly recovers, led by Bitcoin (BTC), a new memecoin is making waves in the BNB ecosystem. Mubarak (MUBARAK), a recently launched token, has sparked a surge in on-chain transactions, fueled by intense community interest and high trading activity.

What’s even more interesting is the strong backing from Binance co-founder changpeng zhao changpeng zhao Changpeng Zhao, populalrly known as CZ, is a Chinese-Canadian businessman. He founded Binance, the biggest cryptocurrency exchange in the world based on trading volume. CZ came across Bitcoin (BTC) in 2013 from a friend. Full Name Changpeng Zhao Birth  1977 in Lianyungang, Jiangsu, China Nationality Chinese-Canadian, UAE Education BSc. from McGill University Marital Status Married to Yang Weiqing Famous For Binance, Advocate for decentralized finance, blockchain tech. Net Worth $59.4B (refer for realtime) Before starting Binance in 2017, he was the Head of Development at Blockchain.info and the Chief Technology Officer (CTO) at OKCoin. Under CZ, Binance launched an ICO (Initial Coin Offering) that raised $15 million and rapidly became the largest exchange within months. To improve trading options, the firm introduced Binance Smart Chain (BSC), Binance Labs, Binance Academy, Binance Launchpad, and other blockchain-based solutions. CZ has influenced the global adoption of crypto by offering regulatory compliance, DeFi solutions, and infrastructure for digital assets. CZ’s Career Timeline Tokyo Stock Exchange (2001–2003) – Developed trading systems for financial institutions. Bloomberg Tradebook (2003–2005) – Worked as a software developer for high-frequency trading systems. Fusion Systems (2005–2013) – Co-founded this financial technology firm specializing in ultra-low-latency trading solutions. Blockchain.info (2013–2014) – Served as Head of Development, working with early Bitcoin adopters like Roger Ver and Ben Reeves. OKCoin (2014–2015) – Worked as Chief Technology Officer (CTO) at one of the largest fiat-to-crypto exchanges at the time. Binance (2017–2023) – Founded Binance and led it to become the world's largest cryptocurrency exchange before stepping down as CEO in 2023. Awards and Recognizations List of achievements Year Bloomberg 50 – Most Influential People in Finance 2021 Forbes Crypto Rich List – Billionaire Status 2022 Top 10 Most Influential People in Crypto (CoinDesk) 2022 Binance – World’s Largest Crypto Exchange by Volume 2018-23 There were regulatory issues in some countries about crypto. However, CZ continued to support decentralization, financial freedom, and innovation in the cryptocurrency industry. After reaching an agreement with U.S. regulators over compliance violations, in 2023, he resigned as CEO of Binance. Useful Links X (formerly Twiter) https://twitter.com/cz_binance? Instagram CZ_Binance (@changpengzhao)  LinkedIn Changpeng Zhao - Binance | LinkedIn EntrepreneurInvestorChief Executive Officer adding to the hype and bullish sentiment.

With rapid price movements, major exchange listings, and growing liquidity, Mubarak is quickly becoming the latest token to watch. But how long can the momentum last?

Let’s take a closer look.

Mubarak Fundamentals

The MUBARAK memecoin launched on March 13 following an X post by CZ. Launched on the Four Meme launchpad, Mubarak has also been incorporated as part of the Binance Alpha. As a result of the rising community support, the memecoin received $50k liquidity support from the BNB Chain Pool Support Program, thus growing its overall liquidity to more than $1 million.

Mubarak has gained further traction with listings on major centralized exchanges, including MEXC, Gate.io, and BingX. These listings have helped the token attract around 14,000 on-chain holders, adding to its growing influence in the market.

Market Performance

With a fully diluted valuation of about $111 million and an average daily trading volume of $54 million, Mubarak has seen remarkable price action. In the past 24 hours alone, the token surged over 200 percent, reaching $0.112 during the early London trading session on Monday, March 17.

Mubarak Price Correction Ahead?

Since its launch, Mubarak has followed an upward trend, consistently setting higher highs and higher lows. However, the pace of its growth has started to slow, forming a rising wedge pattern on the four-hour chart. This pattern often signals a potential price correction. If the trend plays out, Mubarak may soon dip, with the first major support level expected around $0.04.

It’s been a wild ride for Mubarak so far, and whether it’s a short-lived hype or a long-term contender is a story still unfolding.