Last Updated on May 6, 2023 by Bitfinsider
The Floki Inu token is the most recent meme-based token that has experienced a big price increase, signaling the start of the meme coin season. The Shiba Inu-inspired cryptocurrency, which has long been dubbed the “next big memecoin,” seems to be living up to the hype. Floki Inu has gained 40% over the last day and is currently the second-best performing cryptocurrency after the quickly increasing Pepe token.
This most recent price increase is related to a number of prominent listings made by exchanges recently. On May 3rd, Bitfinex was the first to announce the listing of Floki, a move that many in the cryptocurrency community found unexpected and surprising. The biggest exchange in the world, Binance, said on May 5 that it would put Floki alongside Pepe in its innovation zone and allow users to make deposits as of that day.
The exchange also announced that it would start trading the tokens on May 6th in four pairs: FLOKI/USDT, PEPE/USDT, and PEPE/TUSD. Additionally, Binance wants to allow borrowing on both assets and, in the upcoming 48 hours, will launch new margin pairings for FLOKI and PEPE on Isolated Margin. The pairings with Isolated Margin include FLOKI and PEPE against the USD.
The crypto community was really excited to hear about this listing, which resulted in a favorable market movement for both assets. In just a few hours, FLOKI rose by 60% and PEPE reached a new market high of $0.0000028, surpassing the $1 billion market cap. Floki Inu has seen an uptick in trading volume at this time as more investors look to buy the token in anticipation of a bull run. Memecoin enthusiasm has been sparked by the current bull-run of PEPE, which has increased by 11,000% in less than a month, and Floki Inu seems to be the main beneficiary.
Next steps for Floki Inu
As a community-driven cryptocurrency aiming to take a novel decentralization strategy, Floki Inu has gained a sizable following. It has a strong reputation among crypto fans due to its low transaction costs and range of offerings, which includes an NFT metaverse game, the FlokiFi Defi environment, the Floki University, and the NFT marketplace. In order to acquire acceptance among mainstream cryptocurrency users, the Floki team has also consistently positioned the project as community-first and formed high-profile collaborations with sports groups.
It is anticipated that the most recent price increase will revive interest in the token, which seemed to have halted in previous months. As the pattern continues, it will be interesting to see where this coin goes. It won’t be long before other exchanges follow Binance’s lead and place it in the innovation zone, showing their support.
How to buy or trade SHIB on ProEX
On ProEX, you can trade SHIB as a spot pair (SHIB/USDT) in 3 simple steps:
- Sign up and register an account on ProEX
- Buy USDT via ProEX One-click Buy
- Trade SHIB/USDT at ProEX Spot
Hardware wallets are safe and secure devices that can be used offline. They keep your cryptocurrency offline, making it impossible for you to be hacked. To find out more on the leading hardware wallets, you may view our reviews here: Ledger & Trezor
Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.