One sentence summary – During a recent Ask Me Anything session, Binance CEO Changpeng Zhao discussed meme coins like SHIB and mentioned that Binance considers factors such as user base and trading volume when listing coins, indicating a potential interest in meme coins with strong community support, despite SHIB’s recent price decline.
At a glance
- Changpeng Zhao (CZ), CEO of Binance, discussed meme coin SHIB during an AMA session.
- CZ admitted not fully understanding meme coins but acknowledged their popularity.
- Binance has a dedicated team responsible for listing coins based on factors like user base and trading volume.
- SHIB gained significant traction and was listed on Binance, while Floki Inu (FLOKI) may also be listed due to its growing community.
- SHIB has experienced a recent price drop, indicating challenges in its market.
In a recent Ask Me Anything (AMA) session, Changpeng Zhao (CZ), the CEO of Binance, discussed the meme coin SHIB, sparking interest among its followers.
CZ admitted that he does not fully comprehend the concept of meme coins, but acknowledged that others, including Elon Musk, do.
During the AMA, CZ discussed meme cryptocurrencies and specifically mentioned SHIB.
CZ pointed out that Binance has a dedicated team that is responsible for listing coins.
This team considers various factors such as the coin’s user base and trading volume.
Binance does not rush to list coins, CZ said.
Instead, the exchange monitors the metrics of potential listings over time before making a decision.
According to CZ, some meme coins gain significant traction in the market.
SHIB is one of these coins, which led to its listing on Binance.
Another meme coin, Floki Inu (FLOKI), may have a high chance of being listed on Binance.
This is due to its growing community and its listing on other exchanges.
This suggests that Binance is open to considering meme coins that demonstrate a strong presence and attract a significant user base.
In terms of recent performance, SHIB has experienced a price drop of over 3.2% in the past 24 hours.
Since April 19, SHIB has seen a total plunge of 14.16%.
This suggests that the market for SHIB has faced some challenges in recent days.
CZ’s mention of SHIB during the AMA session, along with Binance’s consideration of factors such as user base and trading volume, provides insight into the rationale behind listing meme coins on the exchange.
The potential listing of Floki Inu (FLOKI) indicates a continued interest in meme coins that demonstrate strong community support.
However, it is important to note that SHIB has experienced a recent decline in its price.
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A pixelated image of a CEO holding a coin with a question mark symbol, surrounded by various other coins.
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|– @ShibBPP tweeted about the head of Binance mentioning meme coin SHIB during an AMA session
– Many SHIB fans were intrigued by this mention
– CZ admitted to not understanding meme coins but acknowledged that others, like Elon Musk, do
– CZ mentioned SHIB in the context of discussing meme cryptocurrencies during the AMA session
– CZ stated that Binance has a special team for listing coins and they consider factors like user base and trading volume
– Binance does not list coins quickly and monitors their metrics over time before making a decision
– CZ mentioned that some meme coins gain traction in the market and SHIB is one of them, which is why it was listed
– Floki Inu (FLOKI) may have a high chance of being listed by Binance due to its growing community and listing on other exchanges
– SHIB has experienced a price drop of over 3.2% in the past 24 hours and has seen a total plunge of 14.16% since April 19.