Binance announced the listing of PEPE and FLOKI

On May 5, cryptocurrency exchange Binance will place FLOKI (FLOKI) and Pepe (PEPE) memcoins in the innovation zone and open spot trading.

The assets will be available in pairing with Tether (USDT) and TrueUSD (TUSD) stabelcoins. 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 after the main listing. Withdrawals will be available from May 6.

“Note that as of this writing, PEPE has no utility or value maintenance mechanism. In addition, there are indications that some insiders or team members were able to buy 7% of the total token count within minutes of its creation,” Binance noted.

On the background of the news of the listing PEPE rose by 41% in an hour, and its capitalization reached $1.17 billion

4-hour chart of PEPE/USD of Uniswap exchange. Data: GeckoTerminal.

According to CoinGecko, the coin is still in third place among other meme-coins, but its daily trading volume is almost two times higher than the combined performance of leaders Dogecoin (DOGE) and Shiba Inu (SHIB).

Meanwhile, FLOKI rate grew by 62% up to $0.00005367. At the same time, the coin’s capitalization jumped by almost $200 million.

The 15-minute chart of FLOKI/USD of Uniswap exchange. Data: GeckoTerminal.

Recall that in May, the head of Binance Changpeng Zhao (CZ) said that he “does not understand meme-coins” and is not personally involved in the listing of such coins.

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