Pancake swapone of the leading decentralized exchanges on the BNB chain, has taken its platform to the next level.
The exchange unveiled SpringBoard, a no-code platform that allows anyone to create tokens.
This innovative tool simplifies launching memecoins and community projects by offering zero fees and automatic liquidity pairing.
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PancakeSwap’s latest development could fuel a significant increase in demand for Binance Coin BNB, possibly pushing its price to new highs.
PancakeSwap Launches Pump Fun Competitor
PancakeSwap’s new initiative, SpringBoard, is poised to revolutionize the meme token landscape.
Similar to the Solana-based memecoin launchpad, Pompe.funSpringBoard eliminates the need for technical expertise. It is also accessible to all users and works on the principle of fair launches.
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With the introduction of SpringBoard, PancakeSwap offers a turnkey solution for meme token creators.
The platform can automatically match liquidity using BNB, USDT or CAKE. This should make it easier to create new asset pairs with minimal friction.
Notably, memecoins like Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE) have accumulated success in the ecosystem. PancakeSwap aims to capitalize on this trend by attracting more creators looking for a simple and effective platform.
The move could solidify DEX’s position as the industry’s go-to platform for token creators.
As more memecoins and community projects are launched, the BNB ecosystem is expected to benefit significantly. Speculatively, this could boost demand for Binance Coin.
Potential Impact on Binance Coin Demand and Price Rise
Binance Coin (BNB) has shown strong growth potential and could rise further with the launch of SpringBoard.
As SpringBoard gains popularity, the demand for BNB is expected to increase. This is because PancakeSwap will use BNB to pair liquidity.
Every new meme token added to the ecosystem will increase the demand for BNB. As an ecosystem gas fee and liquidity pair token, the demand for BNB will skyrocket.
BNB has had an impressive rally so far. Recently, it overtook Solana (SOL) to become the 5th largest crypto by market capitalization. With the growing meme market on the Binance Smart Chain, BNB is positioned to benefit from increased usage.
If SpringBoard succeeds like its main rivals, BNB could be up for it. At the time of writing, BNB price was $739, up 3.06% in 24 hours. Over time, demand for Springboard can push it up to $1,000.
The appeal of the Memecoin ecosystem
The memecoin market, led by Shiba InuDogecoin and PEPE have seen significant activity recently. In November, SHIB’s price jumped 72% as user engagement reached new heights.
The token saw considerable momentum, gaining 7,548 new wallets, signaling growing demand. Additionally, large-scale investments jumped 1,270%, showing that large investors are also betting on the rise of SHIB.
Currently, SHIB is facing key resistance at $0.00003250. According to market data, it is trading at $0.000030, up 5.40% in the last 24 hours.
If SHIB rises above this level, analysts expect the price to rise by up to 83%, potentially doubling its value.
In the meantime, Dogecoin is in a new phase of optimism, having recently recorded its highest monthly close on record. This sparked speculation that it could soon surpass its previous price barriers and possibly reach $1.
Despite the cautious market sentiment, technical indicators like the RSI suggest that Dogecoin is likely to see a rally.
With 92% of DOGE holders in profit over the past 90 days, confidence remains strong. Currently, DOGE price was at $0.409910, up 0.49% in the last 24 hours.
PEPE, known for its volatility, has recently experienced a 6% price jump after its Bitstamp listing announcement.
With the hype around memecoins, the Springboard platform has a ready marketplace that has already created over 100 tokens so far.