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Examining Floki Inu’s [FLOKI] latest listing and price movements amidst memecoin frenzy

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As per a 5 May tweet, Binance announced the listing of FLOKI in its innovation zone, opening up spot trading of the coin on its platform.
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Examining Floki Inu's [FLOKI] latest listing and price movements amidst memecoin frenzy
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  • FLOKI’s network activity reached a two-month high.
  • FLOKI was the second-most popular crypto in Binance’s famed list of trending cryptocurrencies.

Floki [FLOKI] was one of the top performers in the crypto space in the last 24 hours, racking up gains of more than 34% until press time, data from CoinMarketCap revealed. The buzz around the memecoin has been steadily building for some time as even on a weekly basis, it increased by 19%.

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

The surge in the token’s price followed its debut on the world’s largest cryptocurrency exchange, Binance, marking a significant milestone in the growth trajectory of the dog-themed token.

 

“A monumental moment”

As per a 5 May tweet, Binance announced the listing of the token in its innovation zone, opening up spot trading of the coin on its platform.

Binance mentioned that the coin will be added in the next 48 hours. The crypto exchange added that there would be no listing fees for FLOKI and on the FLOKI/TUSD spot trading pair, no maker fees will be charged to the users.

Binance’s Innovation Zone is a dedicated trading zone where users are able to trade new, innovative tokens that are likely to have higher volatility and pose a higher risk than other tokens.

FLOKI hailed the development as a “monumental moment”. The coin was earlier listed on Binance.US, Binance’s sister company which handles U.S. operations.

Surprisingly, another memecoin Pepe [PEPE], which exploded in valuation over the last week, was listed on the exchange as well.

However, unlike FLOKI, PEPE has no utility and was created by an anonymous team. FLOKI has created various products such as NFT-based games, NFT collections and a crypto debit card.

Did FLOKI pump?

The news of the listing infused a lot of energy into FLOKI’s ecosystem. The daily active addresses and network growth spiked to their 2-month highs on 5 May. This suggested rising demand for the memecoin, as per Santiment.

Source: Santiment

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

The talk of the town

FLOKI became a social media sensation as the number of mentions for the coin on crypto-focused social channels skyrocketed. Moreover, it was the second-most popular crypto in the world in Binance’s famed list of trending cryptocurrencies.

In addition, the weighted sentiment which was moving in the negative territory made new highs, as investors began to position themselves bullishly.

Source: Santiment

 

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Saman Waris works as a News Editor at AMBCrypto. She has always been fascinated by how the tides of finance and technology shape communities across demographics. Cryptocurrencies are of particular interest to Saman, with much of her writing centered around understanding how ideas like Momentum and Greater Fool theories apply to altcoins, specifically, memecoins. A graduate in history, Saman worked the sports beat before diving into crypto. Prior to joining AMBCrypto 2 years ago, Saman was a News Editor at Sportskeeda. This was preceded by her stint as Editor-in-Chief at EssentiallySports.
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