Binance listing pushes Floki, Pepe up more than 50% Binance listing pushes Floki, Pepe up more than 50%
Binance warned that Pepe insiders bought 7% of its total supply, adding that it has no token utility or value support mechanism.
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Updated: May. 5, 2023 at 3:11 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Crypto exchange Binance has revealed it would list Pepe (PEPE) and Floki Inu (FLOKI) in its innovation zone, according to a May 5 statement.
The crypto exchange said its users would enjoy zero maker fees on the spot trading of the memecoins True USD (TUSD) pairing.
Besides that, the tokens would be listed as a borrowable asset within the next 48 hours.
Meanwhile, Binance warned its users that memecoins are extremely risky assets to trade — adding that Pepe has no token utility or value support mechanism.
Binance also highlighted that the token insiders bought around 7% of its total supply immediately after its launch.
Binance wrote:
“FLOKI and PEPE are relatively new tokens that pose a higher than normal risk, and as such will likely be subject to high price volatility.”
Following the news, the two memecoins rallied by more than 50%, respectively, according to CryptoSlate data.
Floki’s value jumped to as high as $0.00005, while Pepe pumped to $0.0000029.
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Oluwapelumi Adejumo
Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.
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Floki (FLOKI) is the people’s cryptocurrency and the utility token of the Floki Ecosystem.
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Binance is a global cryptocurrency exchange that provides a platform for trading more than 100 cryptocurrencies.
