Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Major Shiba Inu-themed account @ShibBPP has tweeted that during the AMA ("ask me anything") session that was over just recently, the head of Binance exchange Changpeng Zhao (widely known by his initials as simply CZ), mentioned meme coin SHIB.
Many SHIB fans in the comment thread under the tweet seemed very much intrigued by that.
CZ from Binance just mentioned $SHIB during AMA 🔥🔥
— $SHIB BPP (@ShibBPP) May 1, 2023
SHIB army curious at CZ mentioning Shiba Inu
Questions began flowing for @ShibBPP as to what exactly CZ said about Shiba Inu and in what context he mentioned it.
Some jokingly assumed that CZ may have mentioned that SHIB added one zero to its price today, falling down. The author of the tweet did not provide any answer to the questions from their subscribers.
CZ explaining the listing procedure on Binance
In the course of the AMA session, Zhao talked about meme cryptocurrencies and this was where he mentioned SHIB. To begin with, CZ admitted that he does not understand meme coins at all, although, he said, there are some people that do, like Elon Musk and others.
He was asked if Binance plans to list the recently emerged Pepe meme token which is now taking the market by storm and has exceeded SHIB in the amount of trading volume.
CZ responded that he is not involved with the listing process, saying that Binance has a special team for that. They go with users and see if a crypto project has a large user base, a large trading volume, then there are chances that this coin might be listed.
However, they never list a coin quickly, since they watch how its metrics change over time – often large trading activity and volume of a cryptocurrency may go down after a peak. If a project sustains, then it has a high chance to be added by Binance.
If you missed our Twitter Space with @cz_binance, you can listen to the full recording here ⤵️https://t.co/g2k44NLTeU
— Binance (@binance) May 1, 2023
Here’s what CZ said about Shiba Inu
Here again, CZ mentioned meme coins, saying that even though there are quite a lot of them, some gain a lot of traction in the market with a high volume, and SHIB is one of them, therefore it was listed. Binance is not against any coins, whether they are meme-based or not. The listing team will evaluate every coin offered for listing and the “we’ll see what happens”, CZ said.
Currently, a SHIB rival Floki Inu (FLOKI) may have a high chance to be listed by Binance as it has been listed on many exchanges this year, its community growing fast. Besides, FLOKI has been recently listed by the American branch of Binance – Binance.US.
SHIB adds another zero, falling deeper
Over the past 24 hours, Shiba Inu has lost more than 3.2%, falling from $0.00001029 to the current level of $0.00000996, thus the meme coin has “added” another zero, seeing its price drop.
Overall, since April 19, when SHIB printed a massive red candle on an hourly chart, it has plunged by 14.16% in total.
Alex Dovbnya
Denys Serhiichuk
