Bitrabo Editorial
Floki Inu (FLOKI) has gained attention again as Binance, one of the top cryptocurrency exchanges, has expanded its support for FLOKI via its Binance TR arm. This latest listing on Binance TR is a significant milestone for FLOKI, as it will now be exposed to a much larger investor base.
Last month, Binance’s US division announced the listing of FLOKI, which sparked excitement and captured the interest of crypto enthusiasts and investors. As a result, FLOKI’s popularity surged, and its value skyrocketed.
The Binance Effect on Floki Inu (FLOKI)
When Binance.US added FLOKI to its list, FLOKI’s value increased more than 40% within 24 hours. This listing not only improved FLOKI’s exposure, but it also fueled its unprecedented growth.
FLOKI’s journey continued with Binance TR. Although the subsequent price rally did not reach the same levels of extravagance as before, FLOKI still experienced a positive upward trend. Presently on CoinGecko, Floki Inu’s price has increased by 3.9% over 24 hours.
Despite the recent rally, FLOKI’s resilience was tested as it encountered a slight stumble in its seven-day performance.
Key Metrics Take a Hit for FLOKI
While FLOKI has recently enjoyed a slight rally in price, its daily active addresses have declined significantly in the past week, indicating a diminishing level of engagement within the community. Additionally, FLOKI’s 24-hour trading volume has increased more than 30%, further confirming a prevailing downtrend.
The network growth of FLOKI has also suffered, pointing towards a concerning trend. Because only a limited number of addresses were involved in transferring the meme coin, this contraction in network activity raises questions about the overall adoption and usage of FLOKI, highlighting a potential loss of interest among investors and users.
Pepecoin (PEPE), another cryptocurrency that garnered attention in recent weeks, also struggled to perform well. The lackluster performance of Pepecoin underscores the difficulties faced by meme coins in the current market landscape.