Meme Coin Rally As DOGE, SHIB, PEPE Gain Binance Support
Meme Coin Rally Expected After Binance Support
Binance has recently announced support for the three meme coins, DOGE, SHIB and PEPE, especially in the African region. This is now expected to surge the prices of the meme coins, bringing a massive meme coin rally.
Binance is a leading cryptocurrency exchange. The exchange has now expanded its support for the three popular meme coins, Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe Coin (PEPE). The meme coins will get support through the introduction of new trading pairs in the selected fiat zones of the continent.
This recent move comes with the aim to make accessibility as well as trading easier in these regions. It will not only bring more trading options for the African market, but will also enhance accessibility for the digital assets.
This has come as an announcement by Binance P2P. It officially announced that trading for DOGE, PEPE, and SHIB is now possible against different fiat currencies of the continent. These currencies include names like Ethiopian Birr (ETB), Ghanaian Cedi (GHS), Kenyan Shilling (KES), South African Rand (ZAR), Central African CFA Franc (XAF), West African CFA Franc (XOF), Rwandan Franc (RWF), Tanzanian Shilling (TZS), and Ugandan Shilling (UGX).
This is good news for the users in the region as they will now be able to directly buy as well as sell the meme coins on the P2P platform of Binance, that too, using the local payment methods. The development will play a major role in increasing the adoption as well as liquidity of DOGE, SHIB, and PEPE in the crypto markets of Africa.
Traders and investors are, of course, glad about the announcement. They now have more confidence in the price increase for the three meme coins.
In the past also such incidents of support by major crypto exchanges have happened, surging the prices of crypto tokens for one or the other reason. The listings and expansion increase their trading volumes, helping the cryptocurrencies gain price appreciation.
The Bottom Line
No doubt, the expanded support by Binance is a positive development. However, the future price movements of these meme coins will still depend on various factors. Responsible factors include market sentiment, broader cryptocurrency market trends, and the ongoing developments within their respective communities.
Investors are hence advised to DYOR as well and consider market volatility when making investment decisions in the cryptocurrency space.
Also read:
City Holder Daily Combo and Daily Quiz January 05, 2025
