A meme-inspired cryptocurrency that has rapidly gained popularity, Pepe has been listed on numerous industry exchanges. However, the legitimacy of the asset has been questioned due to its status as a relatively new player in the ecosystem, and being a memecoin.
Binance also announced in a recent blog post that Floki Inu and Pepe coin users can start their withdrawals starting May 6, 2023. It should be noted that PEPE and Floki will trade with zero commissions on the BNB network.
This movement represents a significant advance for both tokens. They will now be more accessible to a wider audience of traders and investors, who will be able to freely deposit and withdraw these assets without additional fees. Additionally, Binance announced that trading PEPE and Floki tokens will be possible against USDT and TUSD.
After the announcement of their listing on Binance, both Pepe and Floki Inu have experienced significant price increases. The Pepe coin has seen a 91.41% rise while Floki has seen a 49.89% rise, bringing its price to USD 0.00004188.
What are meme coins
Memecoins are cryptocurrencies that are based on internet memes. That is, images or videos that go viral and that generate humor or irony. The best-known example of a memecoin is Dogecoin, which was born in 2013 as a joke inspired by the Shiba Inu dog meme.
Although memecoins carry the stigma of being joke coins, since that was their primary goal, some of them have now become objects of desire for many investors. Dogecoin and Shiba Inu are two clear examples. The first has overcome the capitalization barrier of 11,000 million dollars, which has made it the eighth most capitalized cryptocurrency and one of the most powerful in the ecosystem. In fact, it has its own blockchain network for its operation.
For his part, Shiba Inu wants to create a Layer2 for Ethereum, which allows him to scale faster and generate an ecosystem of solutions around the SHIB token. As a result, Shiba Inu is positioned as the second most powerful memecoin in the ecosystem, with a capitalization of more than 6,000 million dollars.
Source: Ambito
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