FLOKI and PEPE memecoins skyrocket over 60% after Binance listing announcement

Binance, the world’s leading cryptocurrency exchange, has announced the listing of two new memecoins, FLOKI and PEPE, in its Innovation Zone. The trading of these spot trading pairs began on May 5, 2023, at 16:00 (UTC), with new trading pairs, FLOKI/USDT, FLOKI/TUSD, PEPE/USDT, and PEPE/TUSD.

Binance has also added FLOKI and PEPE as new borrowable assets with these new margin pairs on Isolated Margin. Deposits for FLOKI and PEPE are now available, and withdrawals will open on May 6, 2023, at 16:00 (UTC).

The trading of FLOKI and PEPE in the Innovation Zone has caused an increase in their prices. Shortly after the announcement, the prices of both memecoins increased by more than 60%, with PEPE trading at an all-time high of $0.00000275 and FLOKI trading at $0.00005163.

Source: Coingecko

FLOKI is a memecoin project that has developed multiple products such as a NFT-based game, NFT collections, and a crypto debit card. FLOKI is the utility token for the product ecosystem. On the other hand, Pepe is a meme coin based on a cartoon character “Pepe the Frog”. However, Pepe has no token utility and is created by an anonymous team. It is important to note that memecoins are extremely high risk, and traders must exercise sufficient risk management.

The Innovation Zone is a dedicated trading zone where users can trade new, innovative tokens that are likely to have higher volatility and pose a higher risk than other tokens. Before trading in the Innovation Zone, all users are required to read the Binance Terms of Use and complete a questionnaire as part of the Initial Disclaimer. There will not be any trading restrictions on trading pairs in the Innovation Zone.

Binance advises its users to exercise caution and practice sufficient risk management while trading cryptocurrencies. The exchange will not be responsible for any trading losses incurred by users. The listing fee for FLOKI and PEPE is zero BNB.

In conclusion, the addition of FLOKI and PEPE to the Binance Innovation Zone provides traders with a new opportunity to explore and take advantage of the high volatility of these memecoins. However, it is important to exercise caution and practice sufficient risk management while trading cryptocurrencies.

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