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Binance Adds Margin Pairs for DOGE, SHIB, PEPE, and More: What’s the Impact on Prices?

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  • Binance expands its margin trading options by adding some trading pairs, such as meme cryptocurrencies like DOGE and SHIB.
  • Whales showed considerable interest in Dogecoin and Shiba Inus, as seen by their sharp price increases after the announcement.

In an effort to improve the trading experience it provides, the biggest cryptocurrency exchange, Binance, has expanded the range of its cross-margin trading by adding a variety of new assets that can be borrowed, more collateral choices, and a ton of new trading pairs.

Accepting the Craze for Meme Coins

So, with the help of prominent cryptocurrencies including Dogecoin (DOGE), Shiba Inu (SHIB), Chainlink (LINK), Pepe Coin (PEPE), Sui, Worldcoin (WLD), Book Of Meme (BOME), and Wrapped Bitcoin (WBTC), new trading pairings combining FDUSD, USDT, and USDC are introduced.

With its improved margin trading offerings, Binance is highlighting BOME, DOGE, PEPE, and SHIB in particular, giving a nod to the meme currencies’ rising popularity in the cryptocurrency space. Incorporating these digital currencies into its trading platform allows Binance to better serve the growing demand for meme coins among traders.

Newly released pairs like DOGE/USDC, SHIB/USDC, and BOME/FDUSD are expected to offer traders more trading options and flexibility.

Market Ripple Effects That Are Positive

Within just a day of the news emerging, Dogecoin and Shiba Inu saw price increases of 4% and 8%, respectively, demonstrating the tangible impact of Binance’s announcement.

A notable increase in trading volume, with DOGE seeing a 25% increase and SHIB seeing a 45% boost, further reinforces this optimistic trend and highlights the active market and growing investor interest spurred by Binance’s development, echoing earlier coverage by ETHNews.

The Impact of Whales and Market Dynamics

Of course, notable is the rising trend of DOGE and SHIB, with monthly increases above 100% and 200%, respectively.

According to Binance’s most recent strategic moves, large acquisitions by whale investors are primarily responsible for this upbeat trend, which demonstrates a positive market outlook for meme coins and the broader crypto ecosystem.

And also, for a deeper dive into these developments, a detailed explanation is available in this YouTube video.

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Syofri is an active forex and crypto trader who has been diligently writing the latest news related to the digital asset sector for the past six years. He enjoys maintaining a balance between investing, playing music, and observing how the world evolves. Business Email: [email protected] Phone: +49 160 92211628