Removing the risk label implies moving those assets to a category of greater confidence.
After Binance’s announcement, the news has not yet impacted positively on the three memecoins.
On July 21, Binance eliminated the risk label (Seed Tagin English) of three of the memecoins with the greatest market capitalization, such as Pepe (Pepe), Bonk (Bonk) and Pudgy Penguins (Pengu).
The label “Seed”, Applied by the Exchange to projects in initial stages with high volatility and risk, it serves as a warning for users. Its removal indicates that these assets have fulfilled internal criteria of the platform, Moving them from a high -risk category to a greater confidence.
Among some of these criteria reviewed by Binance, “the team’s commitment to the project, level and quality of the development and volume of trading and liquidity” are considered, according to the advertisement.
Pepe, originated in Ethereum, It occupies the third place in market capitalization of all Memecoins With about 6,000 million dollars, only behind Dogecoin (Doge) and Shiba Inu (Shiba). This token, inspired by an internet meme, currently trades at 0.000014 dollars, with an increase of 13% in the last seven days, as seen in the following image:
On the other hand, Bonk) and Pengu, both created in the Solana Red, are located in fourth and fifth place, with capitalizations of 2,800 and 2.3 billion dollars, respectively. Its current prices are 0.000035 dollars for Bonk and $ 0.03 for Pengu, showing increases of 29% and 31% in the last week.
While the elimination of the risk label could positively influence the perception of investors and further boost the price of these currencies, that effect has not yet occurred after the Binance announcement.
Pepe and Pengua fell 0.51% and 2.42% respectively in the last 24 hours, while Bonk is the only one of these three memecoins that at the close of this wording shows slight growth in that period, in its case of 0.38%.
