The world’s largest cryptocurrency exchange recently announced a listing of a new memecoin on its platform.
On this Friday, May 5, the exchange announced on a post that it will be adding Floki Inu and PEPE to the exchange. After this date, users will be able to buy and trade both tokens on the platform.
In addition, Binance users will be able to trade the pairs FLOKI/TUSD and PEPE/TUSD with zero maker fees, until further notice.
Getting listed on Binance is usually a big deal for this type of “joke-inspired” tokens. Up until now, only two memecoins made it into the exchange, Dogecoin, and Shiba Inu.
How PEPE Made it Into Binance
The token inspired by the popular cartoon character “Pepe The Frog” surged by a whopping amount in value, since its debut a couple of weeks ago.
The currency gained nothing short of 2000% since its initial coin offering, already breaking through the $1 billion market cap milestone like it was nothing.
In a matter of days, the new asset already entered the top 50 cryptocurrencies, currently ranked at #42.
Furthermore, $PEPE is showing no indications that it is done just yet. The currency continues on its spectacular upward, boasting on a 103% increase over the past 24 hours. $PEPE is currently trading at US$ 0,00000274, while optimistic investors are looking to remove another zero from that price by the end of the year.
How Floki Made it Into Binance
Following the outstanding rise of its rival memecoin, Floki Inu is also performing very well over the past couple of weeks.
The cryptocurrency named after Elon Musk’s pet achieved a major milestone by getting listed on the Binance.US platform on April 25th. And now, the currency will be listed on the global version of the exchange.
The asset increased by over 60% since the announcement, currently trading at around $0.00005296.
However, differently from PEPE, Floki Inu has been in the market for a while. Live since November 2021, the currency reached its all-time high only a couple of days after its ICO, at $0.0003118.
Since then, the project took a heavy tumble and traded way below its ATH up until recently. With this listing, users can now trade the token in USD and USDT pairs on the Binance exchange, providing them with more trading options.
2023’s Memecoin Season
This recent development puts weight on the narrative that 2023 is shaping up to become a “memecoin season”. In the first couple of months of the year, investors already saw the rise of interesting new projects in that type of market, including Pepe, and Golden Inu.
As the trend continues, memecoins will compete in the crypto space by introducing new projects and web3-oriented developments in order to provide utility and notoriety to its currencies.