Leading cryptocurrency exchange, Binance has expanded support for three memecoins in the African region. The support comes as an expansion of trade offerings for Pepe (PEPE), Dogecoin (DOGE), and Shiba Inu (SHIB). This development might have a resultant impact on the price outlook of these memecoins as more participants trade in them.
Binance Expanded Fiat Pairings Boost Accessibility
According to Binance’s official update on the development, the exchange said it would enable trading of the tokens against some selected African fiat currency. These could include ETB (Ethiopia), KES (Kenya), GHS (Ghana), TZS (Tanzania), UGX (Uganda) and RWF (Rwanda). Other fiat are XAF, XOF, and ZAR, which have multiple countries using it as fiat in the region.
This development means interested participants could make purchases of these trading pairs using different local payment systems on the P2P channel. This opens the way for more capital inflow into the three aforementioned memecoin ecosystems.
Market experts see that as likely to increase trade and impact price direction upward. This and a bullish outlook for 2025 could lead to increased price movement for PEPE, DOGE, and SHIB. An expanded global market could support appreciable price growth.
Market Reactions and Price Movements
These memecoins have experienced different price reactions in the broader cryptocurrency market after the announcement.
As of this writing, PEPE suffered a 0.83% decline to trade at $0.00002065. Its market volume also dipped by a significant 24.13% to $1.61 billion. Nonetheless, the current price level is a notable rebound from its low of $0.00002009 in earlier trading.
DOGE is trading up by 1.71% at $0.3469 despite a decline in market volume by 22.85% to $2.27 billion. Meanwhile, Dogecoin whales have been active in the market, supporting price movement.
Dog-themed Shiba Inu has also displayed the prospect of price upsurge as SHIB is trading at $0.0000232, a 1.88% increase in the last 24 hours. The trading volume has increased slightly by 1.10% to $479.18 million.
Regulatory Compliance and Market Stability
Analysts anticipated increased gains for the assets as Binance backs the memecoins across the selected African countries. They, however, caution that the leading crypto exchange needs to guarantee stability by ensuring regulatory compliance. This, they maintain, will help avoid repeating the experience it had in Nigeria, one of its largest markets.
The post Binance Backs DOGE, SHIB, PEPE With Regional Expansion appeared first on TheCoinrise.com.
