Binance lists PEPE and FLOKI in the Innovation Zone

On May 5 at 19:00 (Kyiv/Moscow time), the cryptocurrency exchange Binance will list meme coins FLOKI (FLOKI) and Pepe (PEPE) in the Innovation Zone and will open spot trading. 

#Binance will list @pepecoineth $PEPE and @RealFlokiInu $FLOKI in the innovation zone.

➡️ https://t.co/yxcINj0whc pic.twitter.com/o4UTvWZkHj

— Binance (@binance) May 5, 2023

Assets will be available in pairs with stablecoins Tether (USDT) and TrueUSD (TUSD). Users can already make deposits in the designated meme cryptocurrencies. 

According to the exchange, margin trading for FLOKI and PEPE will open within 48 hours of the primary listing. Withdrawals will be available from May 6. 

“Note that at the time of writing, PEPE has no utility or mechanism to sustain value. In addition, there are signs that some insiders or members of the team were able to purchase 7% of the total supply within minutes after its creation,” said Binance representatives.

Amid the news of PEPE’s listing, its price rose by 41% in an hour, and its market capitalization reached $1.17 billion. 

According to CoinGecko, the coin remains third among meme coins, but its 24-hour trading volume nearly doubles the combined figures of the leaders — Dogecoin (DOGE) and Shiba Inu (SHIB).

Meanwhile, FLOKI’s price rose 62% in an hour — to $0.00005367. In the same period, the coin’s market capitalization jumped by nearly $200 million.

In May, Binance chief Changpeng Zhao stated that he does not understand meme coins and does not personally engage in listing such coins.