Binance announced on May 5, 2023 that it would be adding PEPE and FLOKI to its Innovation Zone. The Innovation Zone is a section of Binance that lists newer and more speculative tokens. The price of both tokens skyrocketed following the announcement, with the PEPE price increasing by more than 50% and the FLOKI price increasing by more than 30%.
There are a few reasons why the price of these tokens increased so much after the announcement. First, Binance is one of the largest cryptocurrency exchanges in the world, so their listing of these tokens gave them a lot of exposure to new investors. Second, both PEPE and FLOKI are meme coins, which are a type of cryptocurrency often based on internet memes. Meme coins have been very popular in recent months, so the announcement that they would be listed on Binance probably caused a lot of excitement among investors.
PEPE and FLOKI are two meme coins that recently entered the top 100 cryptocurrencies on CoinMarketCap. PEPE is based on the popular internet meme "Pepe the Frog" while FLOKI is based on the Shiba Inu dog who became a meme in 2021.
Both PEPE and FLOKI have seen their prices rise in recent weeks, with PEPE rising over 300% and FLOKI over 200%. This increase in price has been driven by a number of factors, including the growing popularity of meme coins, the listing of these coins on major exchanges, and the endorsement of celebrities such as Elon Musk.
However, it is important to note that meme coins are highly volatile and their prices can fluctuate wildly. As such, investors should be careful when investing in these types of coins.
Here are some things to keep in mind when investing in meme coins:
Meme coins are very volatile and their prices can fluctuate wildly.
Meme coins are not backed by any assets, so their value is based entirely on speculation.
There is no guarantee that meme coins will remain popular and their prices could drop at any time.
Meme coins are a high-risk investment, and investors should only invest money they can afford to lose.
⚠️This is an informative post, not investment advice, in case you want to make an investment you should do your own research so please be SAFE⚠️