The world’s largest crypto exchange Binance on Tuesday said it is extending a promotion for several cryptocurrencies, especially meme coins on Binance Margin. Binance to offer a one-hour interest fee waiver for major trending crypto including Dogecoin (DOGE), Shiba Inu (SHIB), Pepe Coin (PEPE), BONK, dogwifhat (WIF), and FLOKI.
Crypto exchange Binance in an official announcement on March 12 revealed a new move to boost trading of trending cryptocurrencies. The move comes amid massive demand for meme coins and gaming tokens. Users can start trading to automatically receive a one-hour interest fee waiver from March 12-26 at 11 AM UTC.
Binance announced key meme coins including BONK, DOGE, FLOKI, MEME, PEPE, SHIB, and WIF. Meanwhile, gaming tokens are BNX, GALA, PIXEL, PORTAL, and YGG. The exchange also extended support for 1000SATS.
In order to benefit from fee waiver, users must keep in mind the time. If both user A and user B borrowed 10 DOGE at 11:20 UTC on March 12. Then, both users must complete repayment on the same day at 12:15 UTC and 11:55 UTC, respectively. The exchange has cited examples for users to understand the timing and interest charged.
Recently, Binance also announced new trading pairs and bots for Dogecoin (DOGE), Pepe Coin (PEPE), Shiba Inu (SHIB), and dogwifhat (WIF). The meme coin rally picked pace after the Binance announcement, with high optimism among investors.
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Traders didn’t respond immediately to the announcement and meme coin prices remain under selling pressure due to profit booking. Top meme coins Dogecoin price and Shiba Inu (SHIB) have dropped over 6% and 19% in a week, respectively.
DOGE and SHIB price each fell over 4% in the last 24 hours. Other meme coins PEPE, FLOKI, WIF, and BONK also fell 2-8% in the last 24 hours. However, the sentiment surrounding meme coins remains higher due to the bull market and upcoming Bitcoin halving triggering another massive rally in altcoins.
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