Crypto Exchange Adds Support Floki Inu Memecoin

Binance News: Days after recognizing Shiba Inu’s full potential as a result of an internal review and its subsequent delisting from the Binance’s experimental “innovation zone”, the U.S. arm of the world’s largest crypto exchange announced that it will offer Floki (FLOKI) — another flagship cryptocurrency from the memecoin genre.

Binance Lists Floki (FLOKI)

On Monday, April 24, the California-based Binance exchange notified its millions of users about the upcoming Floki listing which would initially be paired with both USD and USDT support. The trading for the token is said to go live tomorrow, April 25, 2023 at 5 a.m. PDT / 8 a.m. EDT. Users of the exchange are now able to deposit FLOKI tokens into their account.

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In the wake of this Binance news, the upcoming meme cryptocurrency — which is currently valued at $345 million — rose by nearly 6.1% in the past one hour while registering gains of roughly 25% in the past one hour. At the time of writing, the price of FLOKI is presently exchanging hands at $0.000035.

Is A Meme Season Coming?

As reported by CoinGape earlier today, Binance has created seven new liquidity pools for crypto including Bitcoin, Shiba Inu, and Dogecoin in response to the growing demand for such cryptocurrencies. Moreover, emerging memecoins like Bone ShibaSwap (BONE), ArbDoge AI (AIDOGE) pumped more than 10% on news of a major exchange listing today.

As a direct consequence of this, many in the crypto community are speculating of an impending memecoin rally where market participants anticipate higher retail engagement as an increasing number of exchanges provide support for these altcoins. However, such price movements are heavily dependent on Bitcoin and a further decline from its current levels of $27K would turn out to be devastating for the larger crypto market.

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Pratik has been a crypto evangelist since 2016 & been through almost all that crypto has to offer. Be it the ICO boom, bear markets of 2018, Bitcoin halving to till now – he has seen it all.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.