During a recent Ask Me Anything (AMA) session on Twitter Spaces, Changpeng Zhao, also known as CZ, the founder of Binance, expressed his preference for Shiba Inu over PEPE, despite the latter’s immense popularity since its launch less than a month ago. CZ explained that Binance is cautious about listing coins with a small circulating supply but a high total supply, as they tend to have a higher risk of dropping in price. He stated that they try to avoid those situations and do not prefer coins with a small circulating supply and a large total supply in reserve.
Despite these concerns, Zhao mentioned that Binance had listed quite a lot of meme coins, including Shiba Inu, which is one of the more highly traded coins on Binance and globally. CZ’s decision to praise Shiba Inu over PEPE is notable, given Binance’s more cautious approach towards PEPE due to its lack of transparency and high-risk nature.
Shiba Inu, also known as the “Dogecoin Killer,” has gained significant popularity in the market with a strong community backing and clear use cases. Apart from being used for payments, it is set to experience a surge in popularity with the introduction of the Shibarium Layer 2 solution, designed to transform it into a fully-fledged ecosystem. CZ also reiterated Binance’s strict policies on preventing insider trading and not disclosing anything about listings or projects, even when talking with project teams.