Finance

$Pepe, $Floki pumps hard following Binance listing

Published

3 weeks ago

May 6, 2023

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.