Binance Backs DOGE, SHIB, PEPE With Regional Expansion

Binance Backs DOGE, SHIB, PEPE With Regional Expansion

Binance Expands Support for Memecoins Across Africa

Leading cryptocurrency exchange Binance has broadened its offerings in the African region by introducing expanded support for three popular memecoins: Pepe (PEPE), Dogecoin (DOGE), and Shiba Inu (SHIB). This initiative aims to boost accessibility and trading activity for these tokens, potentially influencing their price performance as more participants engage in the market.

According to Binance’s official announcement, the exchange will now support trading of PEPE, DOGE, and SHIB against several African fiat currencies. These include Ethiopian Birr (ETB), Kenyan Shilling (KES), Ghanaian Cedi (GHS), Tanzanian Shilling (TZS), Ugandan Shilling (UGX), and Rwandan Franc (RWF). Additionally, users can trade using regional currencies like XAF, XOF, and ZAR, which serve as fiat currencies across multiple African nations.

This development allows users to purchase these tokens via various local payment systems on Binance’s peer-to-peer (P2P) platform, creating new opportunities for capital inflows into the memecoin ecosystems. Market experts suggest that increased trading activity could lead to upward price movements for these tokens, particularly with the broader bullish outlook for 2025.

The announcement has elicited varied market reactions for the three memecoins. As of now, PEPE has experienced a 0.83% decline, trading at $0.00002065. Despite this, the token’s price reflects a rebound from its earlier low of $0.00002009. However, its market volume dropped significantly by 24.13% to $1.61 billion.

Meanwhile, Dogecoin has gained 1.71%, trading at $0.3469. Though its market volume fell by 22.85% to $2.27 billion, whale activity within the DOGE ecosystem has supported its price movement. Similarly, Shiba Inu has shown promise, with its price increasing by 1.88% to $0.0000232. SHIB’s trading volume has also seen a modest uptick of 1.10% to $479.18 million.

While this expansion presents significant growth potential for memecoins, analysts emphasize the importance of regulatory compliance to maintain market stability. Binance has faced challenges in major African markets, such as Nigeria, and must ensure compliance to avoid repeating past issues. By addressing regulatory concerns, Binance can solidify its position in the region while fostering sustained growth for PEPE, DOGE, and SHIB.

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