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An hour ago, major crypto exchange Bitfinex, which is basically the creator of USDT since Tether and Bitfinex share the same management team, announced via its Twitter handle that it had listed popular meme coin FLOKI.
Initially, the intention to add support for this meme coin was announced by Bitfinex two days ago.
#FLOKI is now live on #Bitfinex!
— FLOKI (@RealFlokiInu) May 5, 2023
You can now trade the $FLOKI token with the USD and $USDt pairs on Bitfinex.
This listing makes it easy for institutions to trade $FLOKI and puts it in the same league as $DOGE & $SHIB when it comes to quality of exchange listings. https://t.co/egQfeGQLNc
Bitfinex kicks off FLOKI trading
Now, users of this platform can start trading FLOKI against USD and USDT stablecoin. The announcement on the official Twitter page of the meme coin proudly states that this listing puts FLOKI "in the same league as DOGE and SHIB, when it comes to quality of exchange listings."
Today, another major exchange announced the listing of FLOKI – Binance. CZ's platform added FLOKI and the recently launched PEPE meme coins to its Innovation Zone.
The FLOKI price has reacted by jumping up 60%. PEPE soared by 90%, according to CoinMarketCap.
Head of Binance Changpeng Zhao (known in the crypto community as simply CZ), has posted another warning about meme coins. He stated that meme cryptocurrencies impose high risks on investors and traders and urged everyone to DYOR – an acronym meaning "do your own research."
Meme coins (and all crypto) are high risk!
— CZ 🔶 Binance (@cz_binance) May 5, 2023
Remember, no one is forcing you to buy them. DYOR and be responsible for your own actions. https://t.co/4GBHB3Llkx
Over the weekend, CZ took to Twitter to warn the community against investing in certain meme coins. He said that he had begun following several Twitter accounts. Later, he found out that those had been sold and their new owners started making their own meme cryptocurrencies. CZ said he would stop following those Twitter handles.
PEPE rivals top meme coins DOGE, SHIB, FLOKI
Pepe (PEPE) meme coin is inspired by Pepe the Frog, a meme popular on the internet. It was launched in April by an anonymous team, which is pretty typical of the crypto space – take Bitcoin, for example. Similarly to other meme coins, PEPE does not have any utility. However, recently it has been listed by many exchanges, including top ones such as Binance, and its market capitalization has exceeded $1 billion.
However, the original meme token DOGE has been gradually transformed from a joke on Bitcoin into means of payment and an investment tool widely supported by Elon Musk both personally and via his companies Tesla, SpaceX and The Boring Company, which accept DOGE as payment.
Shiba Inu, the second biggest meme coin, is busy expanding its ecosystem – building the Layer 2 solution called Shibarium, the metaverse and its own customized cold wallet. Shiba Inu has already released a game for smartphones called Shiba Eternity.
Alex Dovbnya
Arman Shirinyan
