Finance
$Pepe, $Floki pumps hard following Binance listing
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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