Floki Inu (FLOKI), a meme-inspired cryptocurrency, has been making significant progress in the past few days. The dog-themed token is competing to become the next Dogecoin (DOGE) or Shiba Inu (SHIB), and recent events have given FLOKI investors reason to be excited. At the time o...
Floki Inu (FLOKI), a meme-inspired cryptocurrency, has been making significant progress in the past few days.
The dog-themed token is competing to become the next Dogecoin (DOGE) or Shiba Inu (SHIB), and recent events have given FLOKI investors reason to be excited.
At the time of writing, FLOKI is trading at $0.00003799, boasting a market capitalization of $361 million and securing the 95th position among the top 100 cryptocurrencies.
The remarkable rise in FLOKI’s price can be primarily attributed to the recent listing on Binance.US [BNB], the American branch of one of the best cryptocurrency exchange, Binance.
Binance announced that trading pairs FLOKI/USD and FLOKI/USDT would be available starting April 25, 2023.
This is MASSIVE news that further legitimizes Floki and makes it clear that we firmly complete the #memecoin trilogy with $DOGE and $SHIB!#Binance is the world's biggest, most trusted, and most recognized #crypto brand. https://t.co/YfgkmnFPi7— FLOKI (@RealFlokiInu) April 24, 2023
Social media boosts FLOKI
The exchange has also helped fuel excitement around FLOKI through its social media channels, which has subsequently led to increased buying pressure and a staggering 1800% rise in trading volume over the past 24 hours, according to CoinMarketCap.
Before this crypto news, several hints suggested the possibility of Binance listing FLOKI. For instance, a tweet from Altcryptogems noted that a wallet named Binance 40 held over $630,000 worth of FLOKI, making it the 41st-largest holder of the token.
Hey @RealFlokiInu community, let's have some fun!— Binance.US(@BinanceUS) April 25, 2023
Additionally, BSC Daily, a Twitter handle focusing on the BSC ecosystem, revealed that FLOKI topped the list of highly traded projects not yet listed on Binance in the past seven days.
$FLOKI @realflokiinu$BABYDOGE @babydogecoin$STRM @streamcoin_strm$GVR @GroveToken$VINU @VitaInuCoin$TAMA @Tamadogecoin$RACA @RACA_3$QRDO @QredoNetwork$LVL @Level__Finance$CEEK @ceek pic.twitter.com/7YnKMiS8kB— BSCDaily (@bsc_daily) April 23, 2023
The recent price pump has significantly boosted FLOKI’s positive sentiment and social dominance, reflecting its surging popularity.
Data from LunarCrush revealed that bullish sentiments around FLOKI rose by over 190% in the last 24 hours, while its AltRank also showed considerable improvement. FLOKI’s network growth remained high, indicating an influx of new addresses transferring the token.
Moreover, its one-week price volatility spiked, hinting at the potential for a continued uptrend.
Elon Musk’s Role in FLOKI’s growth
This dog-themed token, FLOKI reached its all-time high in September 2021 after Tesla and Twitter CEO Elon Musk named his dog Floki. More recently, the token experienced a 40% surge in February 2023 following a series of tweets from Musk featuring his dog as the new CEO of Twitter.