Meme-coins have got a long way from where they initially started in 2013. Although these cryptocurrencies are all based on a meme or a joke, most of them have real-life use cases. For example, Dogecoin, the first-ever meme-coin, aims to become the currency of the internet. This cryptocurrency has been part of the ten biggest cryptocurrencies for more than 6 months now, entering that list in April 2021.
Furthermore, we have Shiba Inu, the meme-coin that surpassed Dogecoin recently. This token is way younger than Dogecoin and does not even have its own blockchain but is rather built on the Ethereum blockchain. Yet, this did not stop it from growing bigger than Dogecoin. In contrast to Dogecoin, Shiba Inu wants to build its own ecosystem. They aim to achieve this through their decentralized exchange (Shibaswap), and their other two tokens (LEASH & BONE).
Both Dogecoin and Shiba Inu are listed in two of the biggest cryptocurrency exchanges – Binance and Coinbase. But what does this mean for other meme-coins and the overall meme sector of cryptocurrencies? Well, we don’t exactly know, but this hints that even the biggest exchanges have opened their doors for meme-coins.
Will Binance List Dogelon Mars?
Binance is the biggest cryptocurrency exchange in the world when it comes to trading volume, amounting up to more than $23 billion in trading volume during the past 24 hours. This centralized cryptocurrency exchange is also one of the leading exchanges when it comes to the number of cryptocurrencies listed. At the time of writing, you can trade more than 394 coins and tokens in Binance.
Although they have such a high number of listed projects, they are still very picky when it comes to listing new cryptocurrencies. Several big projects have failed to get listed on Binance, despite their clear vision and solid background. What makes this process even harder is that Binance does not provide a fixed set of requirements. This makes this process confusing for applying projects.
For Binance to list Dogelon Mars, an ELON/BUSB or ELON/BNB pool should be raised to provide enough liquidity. Additionally, Binance should be regularly informed about the Dogelon Mars project and its achievements.
Binance may list Dogelon Mars since it is the biggest meme-coin after Dogecoin and Shiba Inu. However, more should be done regarding the utility of Dogelon Mars. Also, as its market capitalization grows, the chances of Binance listing the token also grow.
Will Coinbase List Dogelon Mars?
Moving on, we have Coinbase, the biggest cryptocurrency exchange in the United States. When compared to Binance, Coinbase does not have that many coins listed in its exchange. Out of 13,500 crypto projects in existence, only around 119 are supported by Coinbase.
Similar to Binance, Coinbase is very picky when it comes to listing new crypto projects. They have provided some guidelines that any project that wants to get listed in this exchange should follow. Firstly, the team should clarify if their coin/token is an investment or a security. Secondly, they should try to get rid of any superuser privileges and be as fair as possible. Thirdly, the project should have a considerable amount of decentralization implemented. Last but not least, the coin/token should have a verifiable code that makes it credible.
Coinbase has already listed Shiba Inu and Dogecoin. Considering that Dogelon Mars already fulfills most of these criteria, this token may be the next meme-coin to be listed in Coinbase. We believe that this might have a huge positive impact on Dogelon Mars’ performance if it happens.
Also Read: Dogelon Mars (ELON) Price Prediction 2022 and Beyond – Can ELON Eventually Hit $1?
Takeaways
- Dogecoin and Shiba Inu are the biggest meme-coins at the time, amounting up to more than $60 billion in a combined market capitalization.
- Both Shiba Inu and Dogecoin are listed in Coinbase and Binance.
- According to CoinMarketCap, Dogelon Mars is the third biggest meme-coin regarding market capitalization.
- After taking a look at the requirements for getting listed in Binance, we believe that Dogelon Mars might do so in the foreseeable future.
- Similarly, we believe that Dogelon Mars may also get listed in Coinbase sometime in the future.