Binance, the world's leading cryptocurrency exchange and blockchain ecosystem, has announced the delisting of the PEPE meme coin from its Flexible Loan product. In an official statement, Binance advised users who have borrowed PEPE to repay their outstanding loans before June 26 to prevent potential liquidation.

The Flexible Loan product offered by Binance allows users to secure isolated loans using their crypto holdings. However, Binance has decided to cease support for PEPE as a borrowable asset within this service. As a result, all outstanding PEPE loan positions of Binance's Flexible Loan market participants will be closed at 08:00 UTC on June 21. To avoid liquidation, users must repay their PEPE loans before this deadline.

PEPE, a meme coin that was launched just three months ago, has gained significant popularity in the digital asset market. Its trading volume has soared, and it achieved a remarkable milestone by reaching a market capitalization of $1 billion in a matter of weeks. This achievement, which took other well-known cryptocurrencies like dogecoin (DOGE) years to accomplish, highlights the rapid success of PEPE.

Notably, BlackRock Fund, an investment fund associated with BlackRock, recently withdrew $1.98 million worth of PEPE from Binance. This demonstrates the increasing institutional interest in meme coins and their potential as investment assets.

As of now, the price of PEPE stands at $0.00000097, showing a 7.6% increase in the last 24 hours. The coin has a 24-hour trading volume of $192 million and a market capitalization of $381 million, according to CoinGecko.

However, despite its recent surge, PEPE has faced a decline of 23.5% in the past seven days, reflecting the overall volatility of the cryptocurrency market. In comparison to its all-time high of $0.00000431 in May 2022, the current price of PEPE represents a significant decrease of 79.35%.

The decision by Binance to delist PEPE from its Flexible Loan product is part of its ongoing efforts to ensure the stability and security of its platform. By urging users to repay their PEPE loans promptly, Binance aims to protect its customers from potential liquidation risks.

It is essential for users who have borrowed PEPE through Binance's Flexible Loan service to take immediate action and repay their loans before the specified deadline. Failure to do so could result in the liquidation of their PEPE holdings. As the cryptocurrency market continues to evolve, users are advised to stay informed about changes in asset listings and take necessary precautions to manage their investments effectively.