Binance lists Floki Inu [FLOKI]: Examining the chances of a continued price pump

• FLOKI’s price increased by over 40% and volume went up by 1800% in the last 24 hours.
• Metrics looked bullish, suggesting further price pump in the coming days.

Floki Inu [FLOKI] has shown unprecedented growth in terms of its price in the last 24 hours, at a time when bearish sentiment prevailed in the market. FLOKI’s price increased by over 40% in 24 hours, and at press time, it was trading at $0.00004099 with a market capitalization of $398 million. 

Source: CoinMarketCap

Realistic or not, here’s FLOKI market cap in BTC’s terms

Thanks to the latest surge, FLOKI once again made it to the list of the top 100 cryptos by market cap and was sitting in the 95th spot at press time.

Binance, the star player 

The surge can majorly be attributed to Binance [BNB] listing FLOKI. The exchange announced that trading on FLOKI/USD and FLOKI/USDT pairs will begin on 25 April 2023. 

Binance is also playing its part in maintaining the hype around FLOKI through its social media handle. This sparked excitement in the community, because of which buying pressure increased, as was evident from its trading volume. As per CoinMarketCap, FLOKI’s volume increased by over 1800% in the last 24 hours.

Did the community see this coming?

Prior to the actual event, a few hints surfaced that indicated the possibility of Binance listing FLOKI. For instance, Altcryptogems posted a tweet regarding a wallet named Binance 40, which held FLOKI worth over $630,000, making it the 41st-largest holder of the token. The possibility of the wallet being actually linked to Binance was high, as the total holdings of the wallet exceeded $199 million.  

Apart from this, BSC Daily, a popular Twitter handle that posts updates related to the BSC ecosystem, revealed that FLOKI topped the list of top traded highlight projects that haven’t been listed on Binance in the last seven days.

Investors can expect to see a further pump

Thanks to the latest price pump, positive sentiment around FLOKI skyrocketed. It was also accompanied by a rise in social dominance, reflecting its popularity. 

Source: Santiment

How much are 1,10,100 FLOKIs worth today?    

LunarCrush’s data revealed that bullish sentiments around FLOKI went up by over 190% in the last 24 hours. Moreover, the memecoin’s Altrank also improved considerably, which looked bullish.

FLOKI’s network growth remained high, indicating more new addresses were used to transfer the token. Additionally, FLOKI’s one-week price volatility shot up, further increasing the chances of a continued uptrend. 

Source: Santiment