FLOKI | Meme Season Coming?Shiba killer is back?
Recent Binance news indicates that the U.S. arm of the world's largest exchange, is all set to list the popular memecoin Floki
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, another flagship cryptocurrency from the memecoin genre. 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. 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 FWB:27K would turn out to be devastating for the larger crypto market.