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Binance.US Sparks Optimism As It Lists Floki (FLOKI), Is A Meme Season In The Making?

Recent Binance news indicates that the U.S. arm of the world's largest exchange, is all set to list the popular memecoin Floki (FLOKI).
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Binance.US Sparks Optimism As It Lists Floki (FLOKI), Is A Meme Season In The Making?

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.

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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. However, according to the announcement, the deposit function for FLOKI tokens are currently enabled for users to fund their crypto accounts.

Read More: Ripple Moving Out Of U.S. After Coinbase CEO Drops Hint?

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.

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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.

Also Read: This AI-Powered Alternative To Stripe, PayPal Becoming Popular For Crypto Payments

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Pratik Bhuyan

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.

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Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
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