Can Pepe and Floki Mirror Shib's Meteoric Rise Post Binance Listing?

TLDR;

• Binance adds two meme coins, Pepecoin and Floki, to its platform's innovation zone.
• Since their listing, both coins have seen a significant increase in value, with PEPE surging 1,000% in value over the past week and its market capitalization crossing the $1 billion mark.
• Binance has issued a warning that PEPE has no token utility or value support mechanism, and there are signs of insider trading.

Memecoin Listings

Binance, the world's largest cryptocurrency exchange, has added two meme coins to its platform's innovation zone.

Pepecoin ($PEPE) and Floki ($FLOKI) are the latest tokens to join the trend of meme coins, which have seen a surge in popularity in recent weeks. Traders interested in entering the innovation zone must answer two questions about trading risk before being allowed to participate.

Since their listing, both coins have seen a significant increase in value. PEPE, based on artist Matt Furie's Pepe the Frog, has surged 1,000% in value over the past week, with its market capitalization crossing the $1 billion mark.

However, Binance has issued a warning that PEPE has no token utility or value support mechanism, and there are signs of insider trading:

"Please note that, as of the time of writing, PEPE has no token utility or value support mechanism. Also, there are signs that certain insiders or team members were able to buy 7% of the total token supply minutes after TGE."

FLOKI has also seen a rise in value, increasing by 57% since its listing. At the time of writing, both coins are trading for less than a penny.

The listing of these two coins has also led to a surge in gas fees on Ethereum, with fees hitting a one-year high. Ethereum is the second-largest cryptocurrency platform, and its gas fees have been known to fluctuate in response to demand.

Shib Precedent

In May 2021 Binance listed $SHIB, a memecoin that took the space by storm. The market cap growth quickly enjoyed a huge rise pumping from $1 billion to over $13 billion in a matter of days.

What followed was even more impressive as Coinbase went on to list $SHIB and consequently catapulting its market cap from over $2 billion to over $40 billion in just over a month. Whether we will see similarly drastic moves remains unknown, the space is in a vastly different moment than it was back then. Many will however be hoping that the meteoric rise we have already seen can be replicated.

Meme coins, which are often created as a joke or a parody, have gained popularity in recent months, with many investors looking to cash in on the trend. Elon Musk, the CEO of Tesla, has also played a role in promoting dog coins on Twitter, further fueling their rise in popularity.

Despite the risks associated with meme coins, the trend shows no signs of slowing down, with many investors willing to take on the risk for the potential rewards.

What is PEPE coin:

Pepe is a new meme coin that competes with the existing Doge meme coins. The meme coin was launched in stealth, with no presale, no taxes, no LP burnt, and no contract renounced.

The meme coin's mascot is Furie's Pepe, a cartoonish frog with a green humanoid body that first appeared in the 2005 comic Boy's Club. The meme went viral in the 2010s and has continued to resurface even years later.

Where to find PEPE:

Website I Twitter I Discord |

What is Floki:

Floki began with a tweet from Elon Musk. When the billionaire announced he would name his Shiba Inu puppy Floki, it created a deluge of ‘Floki’ dogcoins. The most successful of these is Floki. Floki is currently the market's third most popular meme token, behind Dogecoin and Shiba Inu. It is backed by a community of committed enthusiasts and a strong marketing campaign.

Where to find Floki:

Website | Twitter | Telegram | Discord |