Binance Extends Promotion for Meme Coins

Binance introduced various meme coins and gaming tokens, offering users a fee waiver from March 12 to 26 at 11 a.m. UTC.

On Tuesday, Binance, the largest cryptocurrency exchange in the world, announced that it is extending a promotion for multiple cryptocurrencies, mainly meme coins, on Binance Margin.

Binance will waive interest fees for one hour on Dogecoin (DOGE), Shiba Inu (SHIB), Pepe Coin (PEPE), BONK, dogwifhat (WIF), and FLOKI, among other prominent cryptocurrencies.

Support for DOGE, SHIB, PEPE, BONK, WIF, and FLOKI is Expanded on Binance

On March 12, the cryptocurrency exchange Binance unveiled a novel initiative aimed at enhancing the trading activity of emerging cryptocurrencies.

Amid the tremendous demand for meme coins and gaming tokens, this action was taken. Beginning March 12-26 at 11 a.m. UTC, users can commence trading to receive a one-hour interest fee waiver automatically.

Important meme coins such as BONK, DOGE, FLOKI, MEME, PEPE, SHIB, and WIF were introduced by Binance. In contrast, BNX, GALA, PIXEL, PORTAL, and YGG are gaming tokens. Additionally, the exchange assisted 1000SATS.

To qualify for the fee waiver, users must maintain awareness of the time. On March 12, if both user A and user B borrowed 10 DOGE at 11:20 UTC.

Subsequently, repayment must be finalized by both users at 12:15 UTC and 11:55 UTC on the same day. The exchange has provided illustrative instances to aid users in comprehending the charging of interest and timing.

Additionally, new trading pairs and algorithms for Dogecoin (DOGE), Pepe Coin (PEPE), Shiba Inu (SHIB), and Dogwifhat (WIF) were recently introduced by Binance. Immediately following the Binance announcement, investor optimism grew for the meme coin rally.

The announcement was not immediately met with investor interest, and profit booking continues to exert selling pressure on meme coin prices.

A week ago, the cost of the leading meme currencies, Dogecoin and Shiba Inu (SHIB), fell by more than 6% and 19%, respectively.

Each DOGE and SHIB has experienced a 24-hour price decline of over 4%. Additionally, the value of the meme coins PEPE, FLOKI, WIF, and BONK has decreased by 2% to 8% over the past twenty-four hours.

Nevertheless, meme coins continue to be viewed more favorably due to the bull market and the impending halving of Bitcoin, which is anticipated to spark another enormous rally in altcoins.