FLOKI Price Surges 12.8% Following Airdrop Announcement & New Listings

TLDR:

• FLOKI price surged 12.8% in 24 hours, leading the crypto market
• Binance will support Simon’s Cat (CAT) token airdrop for FLOKI holders
• FLOKI DAO approved $200,000 USDT investment in CAT tokens
• New exchange listing on ByBit and bullish technical analysis
• Analyst predicts potential 96% price surge for FLOKI

The meme cryptocurrency FLOKI has experienced a significant price surge, rising 12.8% in the last 24 hours and leading the crypto market. This rally comes amid several developments, including airdrop news, new partnerships, and positive technical indicators.

Binance, the world’s largest cryptocurrency exchange, announced it will support the airdrop of Simon’s Cat (CAT) tokens to FLOKI holders.

The exchange plans to take a snapshot on August 29, 2024, to determine eligibility for the airdrop. Approximately 315 billion CAT tokens, representing 3.5% of the total supply, will be distributed to FLOKI holders with a minimum of 400,000 tokens.

ANNOUNCING: Floki Trading Bot Trading Competiton With Simon’s Cat

Floki has partnered with @SimonsCatMeme to reward users who trade the $CAT token through the Floki Trading Bot!

1.5% of the $CAT supply has been allocated towards this campaign, allowing users who trade the… pic.twitter.com/XxtWTtM8Uy

— FLOKI (@RealFlokiInu) August 21, 2024

The FLOKI DAO (Decentralized Autonomous Organization) approved allocating $200,000 USDT from its treasury to invest in Simon’s Cat tokens. This decision, backed by 97.72% of voting participants, aims to enhance the intrinsic value of FLOKI and demonstrates the community’s support for the project.

The crypto community has been discussing a potential new “BNB memecoin season,” with FLOKI positioned as a major player in this ecosystem. The FLOKI team highlighted its status as the largest memecoin on the BNB chain, surpassing the combined market cap of all other BNB-based memecoins.

Major crypto exchange ByBit listed the FLOKI/USDC trading pair, expanding access to over 40 million users. This new listing is expected to increase liquidity and make it easier for traders to interact with the FLOKI ecosystem.

Technical analysis from crypto analyst CRG (@MacroCRG) suggests a bullish chart setup for FLOKI. The convergence of fundamental developments and technical indicators points to strong upward momentum.

$FLOKI chart looks fkin delicious

Plus, lots of fundamental tailwinds to ignite momentum: $CAT / @SimonsCatMeme launching today (BNB szn loading, FLOKI should be a huge beneficiary as its BNB’s flag ship meme)

Binance also confirmed to be airdropping big chunk of CAT to FLOKI… pic.twitter.com/7vQ9ahTwiS

— CRG (@MacroCRG) August 22, 2024

Another analyst predicts a potential 96% price surge in the coming days, citing a bullish divergence in FLOKI’s price action.

Coming off of a recently confirmed Hidden Bull Divergence, sights for $FLOKI (Floki Inu), in response to this divergence is still on an over 96% climb back above the $0.0002761498 target which may only open up even more room for climbing!

With a break above this target,… https://t.co/w3iDJDPeZU pic.twitter.com/SSr3iaLB5F

— JAVON⚡️MARKS (@JavonTM1) August 22, 2024

On the daily chart, FLOKI has broken out of a bullish double-bottom pattern and is currently retesting the breakout level. Analysts suggest the token could potentially surge by 50% to reach $0.000209, with an interim resistance level at $0.0001611.

As of the latest data, FLOKI is trading near $0.0001355, having experienced a 7% price increase in the past 24 hours. Trading volume has jumped 90% during this period, indicating increased participation from traders. Open interest in FLOKI has also risen by 13%, suggesting growing investor interest.

On August 21, 2024, FLOKI announced a partnership with SimonsCatMeme to reward users who trade the CAT token through the FLOKI Trading Bot. The initiative allocates 1.5% of the CAT supply towards this campaign, allowing users to potentially earn back their trading fees and more.