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Floki Inu (FLOKI) Price Surges 50% After Binance.US Listing Announcement

1 min
Updated by Geraint Price
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In Brief

  • FLOKI skyrocketed by after Binance.US announced the imminent opening of deposits.
  • The cryptocurrency's team argued a Binance.US listing legitmized the project.
  • Floki Inu briefly entered the top 100 cryptos by market cap before falling to 116 at press time.
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Floki Inu’s patience was rewarded by a listing on Binance.US on Tuesday.

The announcement on April 24 caused the meme coin, unaffected by the crypto bear market, to spike by 50%.

Floki Inu’s Listing Skyrockets Price

After the euphoria subsided, the price retraced from $0.000046 to $0.000037 at press time. According to CoinMarketCap, the coin reached an intraday high of $0.000048.

FLOKI/USD Price | Source: CoinMarketCap
FLOKI/USD Price | Source: CoinMarketCap

The FLOKI team argued that the launch of Binance.US deposits endorsed the project and consummated a meme coin trilogy consisting of DOGE and SHIB. Binance.US listed FLOKI and announced USD and USDT spot trading pairs for the coin on Tuesday.

The move will likely result in bad blood with the Tamadoge (TAMA) community, whose token fell 30% after the announcement that Bybit would list the token rather than Binance or its U.S. arm.

Floki Inu Joins Big Dogs

Listings boost the credibility of even well-known coins. Floki Inu joins Dogecoin and Shiba Inu, the only other dog-themed coins on trusted exchanges. Tamadoge, PEPE, and BabyDoge have yet to secure credible listings.

FLOKI’s listing on Binance.US, which is the American branch of Binance, is significant because of Binance.US’ large trading volumes. FLOKI can gain visibility and, more importantly, credibility, given the difficulty of getting a Binance or Binance.US listing. Securing Coinbase and Binance listings seem to be the project’s next goal.

After the listing announcement, the token entered the top 100 cryptocurrencies by market cap. This ascent marked a significant achievement for the project’s team and backers. The coin’s market cap has since fallen to 116.

For Be[In]Crypto’s latest Bitcoin (BTC) analysis, click here.

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David Thomas
David Thomas graduated from the University of Kwa-Zulu Natal in Durban, South Africa, with an Honors degree in electronic engineering. He worked as an engineer for eight years, developing software for industrial processes at South African automation specialist Autotronix (Pty) Ltd., mining control systems for AngloGold Ashanti, and consumer products at Inhep Digital Security, a domestic security company wholly owned by Swedish conglomerate Assa Abloy. He has experience writing software in C,...
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