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Tuesday, February 27, 2024

Binance CEO Warns Memecoins Are High-Risk

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Memecoins Binance

  • CZ reminds investors to do research before investing in cryptocurrency.
  • Pepe witnessed a massive surge after the Binance listing.

Binance, the world’s largest crypto exchange, has recently announced the listing of the memecoins Pepecoin and Floki Inu in the innovative zone. Following the announcement, Changpeng Zhao, CEO of Binance, stated that memecoins are high risk.

Meme coins (and all crypto) are high risk!
Remember, no one is forcing you to buy them. DYOR and be responsible for your own actions. https://t.co/4GBHB3Llkx

— CZ 🔶 Binance (@cz_binance) May 5, 2023

After the announcement of the new memecoin listing, the crypto exchange CEO comes up with a tweet. In that tweet, he mentioned that memecoins and all other cryptocurrencies are high risk. And he also added that no one is forcing anyone to buy memecoins, do their research, or be responsible for their actions.

CZ wants to remind people that the crypto market is highly volatile, especially the memecoins. The memecoins may have shown a massive increase in recent times, but at the same time, they are also a highly risky investment. He emphasized that investors should not feel any buying pressure on these assets.

The trading price of Pepe continues to show a massive surge after the Binance listing announcement. Pepe’s trading price is around $0.000003703, with an increase of 114.35% in the last 24 hours, according to CoinMarketCap.

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