PEPE, the popular memecoin, recently made a major milestone by getting listed on Binance. However, the accompanying price plunge following the listing has caused significant volatility in the market. Early buyers and whales dumped their assets, causing a more than 56% drop in trading volume.

Binance, the world's largest cryptocurrency exchange, has announced the suspension of market order functions for selected spot and margin trading pairs, including meme coins such as Shiba Inu (SHIB), FLOKI, and PEPE, from May 7 until further notice. The "Market Order - Total" feature for selected spot and margin trading pairs will be suspended, but the manual input to "Market Order - Amount" remains available for placing market orders. The changes mostly impact meme coins such as SHIB, FLOKI, and PEPE, and the market order functions are also suspended for almost all trading pairs listed against BIDR. The restrictions are likely due to volatility and risks in trading meme coins. FLOKI and PEPE coins are trading with massive trading volume after listing on Binance, with FLOKI trading at $0.0000435 and PEPE trading at $0.00000308. SHIB price trades at $0.0000097, down 2% in the last 24 hours and 6% in a week.<br>(By&nbsp;Varinder Singh)

Meme coins are a very risky type of crypto because they are based on Internet cultural references. The price movement depends on whether the meme coins can stay relevant by driving hype or support among the community, and lack fundamental value.

Bitcoin has shown a positive trend in the past 24 hours, approaching the $30,000 level, but has not yet breached it. Altcoins such as ETH, SOL, and UNI have also seen price increases, but the day's top performers are PEPE and Floki Inu. PEPE, a relatively new cryptocurrency, has seen double and even triple-digit daily surges, entering the top 50 digital assets by market cap. Floki Inu has also skyrocketed, with a 40% surge in the past 24 hours, and is now among the top 100 coins by market cap. The top ten altcoins have seen more modest price increases, with Ethereum up by 3.6% and Solana up by 4%. The total crypto market cap has reclaimed the $1.2 trillion line, gaining around $20 billion daily.

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Leading cryptocurrency exchange Binance has announced the listing of two major meme-inspired cryptocurrencies, Floki ($FLOKI) and the hot memecoin Pepe, which is inspired by the infamous meme and cartoon character&nbsp;Pepe the Frog, and was introduced to the market on April 17, 2023.

Crypto exchange Binance has revealed it would list Pepe (PEPE) and Floki Inu (FLOKI) in its innovation zone, according to a May 5 statement.

May 5 (Cointime) - Binance has temporarily suspended deposits for FLOKI and PEPE due to technical difficulties. The exchange notes that users may not be able to view their deposits during this period and that previous deposits currently not visible will be credited. Binance assures users that funds are safe and that deposits will reopen once the issue has been resolved. The exchange will provide further updates on the matter.

May 5 (Cointime) - Binance has announced that it will list FLOKI and PEPE in its Innovation Zone and open trading for these spot trading pairs on May 5 at 16:00 UTC. The new spot trading pairs are FLOKI/USDT, FLOKI/TUSD, PEPE/USDT, and PEPE/TUSD, and users can start depositing FLOKI and PEPE in preparation for trading. Withdrawals for FLOKI and PEPE will open on May 6 at 16:00 UTC. Binance will not charge a listing fee for FLOKI and PEPE. Additionally, Binance will add FLOKI and PEPE as new borrowable assets with these new margin pairs on Isolated Margin within 48 hours of May 5 at 16:00 UTC, with new Isolated Margin pairs of FLOKI/USDT and PEPE/USDT.

The native token of blockchain project Cult DAO, CULT, surged over 70% shortly after a mysterious tweet from Elon Musk containing the same name. Musk's previous comments have caused price swings in digital assets such as Dogecoin and Floki Inu. Despite not revealing what he meant by the tweet, CULT's price spiked in a matter of hours.