Changpeng "CZ" Zhao, the chief executive officer of Binance exchange, has taken to his Twitter account to issue a note of warning to his more than 8.4 million followers and the entire crypto community with respect to the new plans to list PEPE for trading on the platform.
CZ's message to community
In his tweet, CZ informed the community to beware of the high volatility that is peculiar to the duo of PEPE and Floki Inu that the exchange is set to list.
Beyond what is considered normal, meme, coins are known to exhibit high volatility, which becomes amplified when big exchanges like Binance list them for trading. The PEPE and FLOKI tokens will go live on the Binance Innovation Hub, and the community is hyped with respect to the prospects of the event.
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
To CZ, meme coins and all digital currencies are high risk. As he has always emphasized, listing on Binance is not a vote of confidence in the tokens, most of which may see their values plummet after the listing. The popular crypto leader asked the community to remember that no one is forcing them to acquire the potential meme coins that are billed for listing.
PEPE and FLOKI react
After having made many millionaires since its listing about a week ago, PEPE remains undaunted in its bid to chart more ambitious growth paths.
Following the news of the potential Binance listing, PEPE has gone on a parabolic growth path, printing a massive 119% to $0.000003231. Additionally, FLOKI jumped by more than 57% to $0.00005198. After printing an all-time high (ATH) over the trailing 24-hour period, PEPE is now billed to go into price discovery territory following the Binance listing.
While the listings are celebrated, many believe FLOKI has made its mark and deserves the recognition.