Floki Skyrockets 160% on Binance.US Listing

On Monday, the price of FLOKI was at $0.00002821 when the meme coin surged almost 160% to hit 0.00004604.

These gains helped the coin climb the ranks and become the 106th largest cryptocurrency with a market cap of $373 mln.

In the past 24 hours, the coin is still up 36% but has lost some of the gains as it trades at $0.00003919 at the time of writing while managing $221.3 mln in trading volume, according to CoinGecko.

The coin, which has a total supply of 10,000,000,000,000 FLOKI coins, is currently down 85.55% from its all-time high (ATH) of $0.00033651 hit in Nov. 2021.

But what has been behind this latest pump in FLOKI price?

A New Listing

The cryptocurrency market is highly competitive, especially among dog-themed meme coins. Since Dogecoin's success, many meme coins have emerged, but not all have been able to replicate DOGE's popularity. However, Floki Inu (FLOKI) has managed to gain a foothold in the market and is striving to grow its presence and adoption, which aids the token's price in gaining value.

The recent rally in FLOKI actually coincides with the launch of staking on the project's testnet, which is a step towards allowing holders to earn rewards.

But more importantly, FLOKI has been listed on Binance.US, the American arm of the largest crypto exchange Binance, along with fellow meme coins Dogecoin (DOGE) and Shiba Inu (SHIB), both of which are down by 0.9% and 1.3% respectively, in the past 24 hours while FLOKI has risen in value.

The addition of FLOKI to Binance.US is a significant step for meme coin. Starting from April 25, 2023, at 5 a.m. PDT / 8 a.m. EDT, platform users will be able to deposit FLOKI, and trading for FLOKI/USD and FLOKI/USDT pairs will commence.

The listing of FLOKI on the exchange is expected to increase its visibility and credibility among the cryptocurrency community. By joining DOGE and SHIB on one of the world's most trusted exchanges, FLOKI has taken a significant step forward in gaining recognition as a noteworthy meme coin.

Apart from Binance.US, FLOKI can also be found on various other prominent exchanges, such as KuCoin, where FLOKI/USDT and FLOKI/USDC trading pairs are offered.

A Look at the Meme Coin

Floki Inu is a meme token that was born from a tweet by Elon Musk in June 2021, in which he announced that he would name his Shiba Inu puppy Floki. The coin has since become the market's third most popular meme token, trailing only Dogecoin and Shiba Inu.

This cryptocurrency aims to empower people rather than venture capitalists and hedge funds. The platform strongly believes that leveraging the influence of memes is the key to successfully bringing cryptocurrencies to the mainstream and gaining widespread acceptance. This is why the platform's cryptocurrency is fundamentally a meme-based currency.

The platform's philosophy is further centered around the idea that blockchain technology and cryptocurrencies should be utilized to enhance people's lives and promote a better world. Thus, charity plays a critical role in Floki's identity. The project's primary objective is to build a school on every continent and in every underdeveloped country worldwide.

Furthermore, as a cross-chain cryptocurrency, it operates on both the Ethereum blockchain and the Binance Smart Chain (BSC). Each transaction or exchange is subjected to a 3% tax that is directed to the Floki treasury. The treasury is utilized for various purposes, such as project development, partnerships, charitable initiatives, and raising awareness about the platform.

But those using the FLOKI ETH-BSC atomic exchange bridge to seamlessly transfer their FLOKI tokens between the BSC and ETH blockchains are exempted from paying the 3% transaction fee.

In addition, the platform also features a play-to-earn NFT metaverse game called Valhalla. The game incorporates A-level gaming features on the blockchain and offers upgradable NFTs. Its purpose is to incentivize users to utilize the FLOKI token to progress quickly in the game, thereby increasing its utility and demand.

Floki has also incorporated Chainlink Price Feeds to enable access to high-quality, tamper-proof pricing feeds required to read an authentic on-chain price, facilitating critical integrations that will assist the platform in bringing DeFi to the public.

The FLOKI token is also used as a means of decentralized exchange amongst platform participants without the involvement of intermediaries such as centralized third-party entities, institutions, or credit. This enables seamless interactions within the ecosystem and reduces the reliance on external entities for financial transactions.

Apart from all this, in the growing Floki ecosystem, there's a Floki University which is a DeFi platform that focuses on bringing the benefits of decentralized finance to the masses through collaborative relationships, services, and integrations. Its goal is to strategically showcase its ecosystem to the vast community of cryptocurrency users, providing them with an opportunity to explore the crypto world through its platform over the next few years.

The project aims to become a fully functional DAO and is actively run and directed by community members.

Expanding the Ecosystem

Floki Inu has been making headlines with some major developments in its ecosystem. Besides Binance.US listing and staking on testnet, the project has been expanding its brand exposure by partnering with the Badminton Asia Championships 2023. The partnership aims to leverage the tournament's extensive audience base to promote and brand its innovative ecosystem.

The meme coin intends to introduce the FLOKI brand to over 600 million households in Asia during the tournament. The Badminton Asia Championship is being hosted by The Sheikh Rashid Bin Hamdan Indoor Hall in Dubai, UAE, between April 25 to April 30.

Floki has partnered with the Al Nasr Sports Football Club to host the Badminton Asia Championship 2023, a premier tournament that aims to determine the best badminton players in the region. The event features the top badminton players from across Asia who compete for the championship title.

This tournament provides an excellent opportunity for viewers to watch some of the best badminton players in the world while exposing the Floki brand to a broad audience.

Given the continent's vast population and interest in sports, the Badminton Asia Championship has the potential to promote the meme coin to a wider audience. The event will last for five days, and users can buy tickets on Platinumlist, a reliable event guide, and innovative ticketing platform.

Besides this, the project also partnered with Open Leverage, allowing Floki holders to use their tokens on the platform as collateral and borrow assets. More recently, Floki partnered with Thena, with FlokiFi becoming Thena's recommended liquidity locker and Thena becoming Floki's preferred DEX.

In addition, users can earn rewards by participating in the PlayToEarn (P2E) game Valhalla, which features A-level blockchain gaming mechanics, on Floki's MemeFi platform. Players can earn FLOKI tokens by using their in-game characters called Veras.

Earlier this month, the well-known meme token teamed up with Travel Care, a prominent travel agency that uses Web3 technology to onboard many users in the blockchain sector. With this integration, users can now book millions of travel services using Floki's native token, FLOKI.

Floki holders will receive a 5% exclusive discount on hotel bookings when they use the discount code “FLOKI,” thanks to this partnership. This collaboration provides more value to the FLOKI token by enabling holders to utilize their tokens for a variety of real-world opportunities.

In another significant development, Floki Inu was listed on Crypto.com. This move has been expected to drive growth and adoption of the token after being made available to Crypto.com's 80 million strong user base.

What's Ahead?

As mentioned above, Floki is continuously working on expanding its ecosystem. Besides partnerships and development, being a meme coin means FLOKI also enjoys a renewed interest in the meme coins following the launch of Pepe and Babypepe coins and their subsequent gains.

But this is not all. The project also has a strong support network. The Viking-themed coin has a community that refers to themselves as the “Floki Vikings” in honor of Elon Musk's dog, which was named after a Viking character.

Floki Inu is dedicated to prioritizing its community and has consistently ranked in the top 10 of LunarCrush's social engagement leaderboards.

While the coin's popularity continues to soar, investors should be cautious as sudden spurts usually fizzle out within 24 hours. As such, investors interested in Floki Inu should exercise caution and recognize that, like other meme coins, it may not maintain lasting value.