tl;dr
Binance announced the delisting of PEPE and two other altcoins, causing PEPE's price to drop. The delisting will take effect on December 13, but it won't affect the availability of the tokens on the Binance Spot. Delistings by major exchanges like Binance typically have a negative impact on the affe...
# Binance Delists PEPE and Other Altcoins, Impacting Prices and Meme Coin Sector Binance's recent announcement to delist PEPE and two other altcoins set off a chain reaction, influencing their prices and signaling potential repercussions for the broader meme coin sector. The delisting decision by Binance triggered a drop in PEPE's price, anticipated to mimic the outcomes of past delistings. The impact of this move will take effect on December 13, although it will not restrict the availability of the tokens on the Binance Spot. Historically, major exchange delistings such as this one tend to have negative effects on the affected cryptocurrencies, exemplified by PEPE's current performance. This downtrend could also be linked to the recent turbulence in the meme coin sector, as other altcoins have experienced substantial price plunges following Binance delistings. Conversely, the addition of cryptocurrencies to Binance often leads to positive price effects, attributed to increased accessibility and enhanced market confidence. Notably, the introduction of certain cryptocurrencies to Binance has resulted in significant price hikes, such as the 15% surge in the price of the Solana-based meme coin PONKE when PONKE/USDT perpetual contracts were launched in November. Similarly, the introduction of 1000CATUSDT perpetual contracts on Binance's futures program prompted a notable upsurge in Simon’s Cat (CAT) value. Binance's ongoing delisting initiative includes terminating spot trading pairs such as PEPE/TUSD, DCR/BTC, and ZEN/ETH from its platform, aiming to uphold a high-quality trading market. Despite this, the availability of the tokens on Binance Spot remains unhinged. Delisting by large exchanges often results in a negative impact on the underlying cryptocurrencies due to decreased liquidity and reputational damage. While PEPE experienced a 7% decline, DCR dropped by 4%, and intriguingly, ZEN gained 2% on a daily scale. It's worth noting that the recent slump in PEPE's price could have been even more substantial if Binance had decided to remove it entirely from the platform, illustrating the potential impact of such decisions. In contrast, when cryptocurrencies are added to Binance, their prices tend to rise due to factors like increased accessibility and a boost in market confidence. For instance, the introduction of PONKE/USDT perpetual contracts led to a 15% price increase for PONKE in November, while Simon’s Cat (CAT) surged significantly following the launch of 1000CATUSDT perpetual contracts on Binance's futures program. As the industry continues to evolve, the impact of exchange actions on cryptocurrency prices underscores the dynamic nature of the market, with Binance's decisions serving as a barometer for investor sentiment. *This article was authored by Dimitar Dzhondzhorov, a seasoned journalist with extensive experience in cryptocurrency and stock market reporting. If you found this article informative, feel free to share it with your friends and engage in the conversation about cryptocurrency trends.* --- Enjoy reading? Share with your friends on (#) (#) (#) (#) --- *About the Author - Dimitar Dzhondzhorov* Dimitar got interested in cryptocurrencies back in 2018 amid the prolonged bear market. His biggest passion in the field is Bitcoin, and he was fascinated with its journey. With a flair for producing high-quality content, he started covering the cryptocurrency space in late 2018. His hobby is football. Join our community: (#) (#) (#) --- *Editorials* - (#) - (#) - (#) - (#) - (#) - (#) - (#) --- *Footer Logo* ABOUT Advertise on CryptoPotato About Us | Contact Us | Careers Editorial Policy Terms of service | Privacy Policy | GDPR More Sections IEO List | Evaluations Airdrops Scholarship DISCLAIMER Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research