Elon Musk’s endorsement extended Dogecoin’s lifespan, CZ says

Elon Musk’s endorsement extended Dogecoin’s lifespan, CZ says


Changpeng Zhao, the CEO of cryptocurrency exchange binanceexpressed his surprise at this Dogecoin DOGE/USD has managed to retain a significant following even after all this time.

What happened: Speaking during an “Ask Me Anything” session Twitter Spaces told Zhao Wednesday he expected the popular meme coin to be long gone. However, he credited it Tesla CEO Elon Musk with the fact that he has played a role in extending the lifespan of Dogecoin by promoting the coin.

“One meme coin that really surprised me was actually Dogecoin. It has super long lasting power. I thought it was gone a long time ago. But Elon Musk “I held on to it and maybe extended its lifespan,” Zhao said.

Zhao also discussed the resurgence of meme coin speculation that has impacted the crypto market. Admitting that he doesn’t fully understand the appeal of meme coins, he explained that he prefers tokens with practical uses. “It seems popular at the moment. However, I believe that the risk is very high.”

Nonetheless, Binance lists meme coins, including Pepe Coin PEPE/USD. “We tend to track what our users are doing,” Zhao said.

See more: The art of the future: Lisa Ray’s TheUpsideSpace puts NFTs in the spotlight

Why it matters: A few weeks ago, CZ declared the listing of meme coins Process on Binance. He said the exchange ranks coins based on the engagement of its users, their trading activity and overall demand. “If many users are trading a coin, they want, play with it, etc., we will most likely list them. If the coin only lasts two weeks, we probably won’t. But if it lasts, then we probably will.”

This is a surprising turn in the cryptocurrency industry after Zhao was reportedly unfollowed Tesla CEO Elon Musk on Twitter.

Price promotion: At the time of writing, DOGE was trading at $0.073, down 1.78% over the past 24 hours. according to Benzinga Pro.

Continue reading: Bitcoin, Ethereum and Dogecoin fall amid…


Source story

More to explorer