- Binance exchange has unveiled plans to list DOGE, SHIB, and PEPE cross and isolated margins.
- The listing marks a vote of confidence in the memecoins with an accompanying growth sentiment.
Binance, the world’s leading crypto exchange, said it is expanding its offerings with the introduction of new trading pairs on cross and isolated Margins for Dogecoin (DOGE), Shiba Inu (SHIB), Pepecoin (PEPE), and others. This move has brought about speculations on whether the prices of these digital assets would be affected.
Binance Introduces Cross and Isolated Margin Pairs
Known for its big embrace of community-driven assets, Binance teased the Margin offerings for these altcoins in a recent press release.
«Binance Margin strives to enhance user trading experience by continuously reviewing and expanding the list of trading choices offered on the platform, allowing for greater diversification of user portfolios and flexibility with trading strategies,» said Binance in the press release.
According to the announcement from Binance, the new pairs of digital assets will begin trading Today at 1:00 UTC. Binance hopes to give its users more opportunities to engage in the crypto market by increasing the number of available trading pairs.
Binance’s new trading pairs in cross margin include BOME/FDUSD, DCR/USDT, DOGE/USDC, LINK/USDC, LTO/USDT, MLN/USDT, PEPE/FDUSD, PEPE/USDC, SHIB/USDC, SUI/USDC, WBTC/BTC, WBTC/USDT, and WLD/USDC.
On the other hand, BOME/FDUSD, DOGE/USDC, LINK/USDC, PEPE/FDUSD, PEPE/USDC, SHIB/USDC, SUI/USDC, and WLD/USDC are the news trading pairs that are on the isolated margin.
Additionally, Binance Margin has introduced Decred (DCR), LTO Network (LTO), and Enzyme (MLN) as new borrowable assets. While DCR, LTO, MLN, and WBTC are included as new collateral assets.
Impact of Listing on DOGE, SHIB, and PEPE
The introduction of DOGE to Binance’s new trading pairs comes as the meme coin faces a critical resistance level on the chart. As previously reported by Crypto News Flash, DOGE has struggled to break through the $0.35 resistance level, forming a bearish sentiment among investors. The report hinted that the existence of resistance near this level indicates that a large bullish move may be difficult to achieve soon.
However, the latest data from Marketcap show a different scenario as DOGE is trading at 0.1837, with a trading volume that has increased by 11% to $3.2 billion in the last 24 hours.
Similarly, SHIB has seen an increase of 1.7% in the past day, with its price trading at $0.00003024. SHIB’s market capitalization is now standing at $17.8 billion, while trading volume is pegged at $2.2 billion.
Remarkably, large investors referred to as ‘whales’ are actively buying the two largest meme coins, delivering DOGE and SHIB monthly gains of more than 100% and 200%, respectively.
On the other hand, PEPE is trading at $0.000007936, down by 5% in the past day, with its market capitalization standing at $3.3 billion.
However, according to CoinGlass data, futures traders have purchased PEPE during the last hour. This suggests that the meme coins’ price can rebound today. Per Crypto News Flash’s earlier announcement, PEPE has also experienced a renewed rise in whale interest.
