Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Floki Inu (FLOKI), a meme coin inspired by the pet dog of Tesla's CEO Elon Musk, is set to be listed on Binance TR, a subsidiary of Binance, the world's largest cryptocurrency exchange by trading volume. Binance TR recently made this announcement, stating that the listing will facilitate the trading of FLOKI in Turkish Lira (TRY) pairs.
This development is significant as Turkey is a hub of considerable popularity for Floki Inu. The new listing is expected to increase the accessibility of Floki Inu for the Turkish crypto community, therefore potentially boosting its adoption rate in the country.
Binance TR will list $FLOKI in the TRY trading pair! 🔥
— FLOKI (@RealFlokiInu) May 23, 2023
TRY is the national currency of Turkey, a country where #Floki enjoys massive popularity. This pair listing will make #Floki a lot more accessible in Turkey 🇹🇷.
Trading will start by 8am UTC on 2023-05-24! https://t.co/dDnik3xq6C
Trading of Floki Inu in TRY pairs is set to commence at 8:00 a.m. UTC on May 24, 2023. This development comes at a time when Floki Inu's price performance has been on a downward trend, losing about 45% of its value in the past two and a half weeks.
The lack of significant traction for Floki Inu could be attributed to the declining interest in meme coins among the crypto community. With the fad fading, these tokens have been struggling to sustain their previously exuberant momentum.
However, the new listing might serve as a catalyst for a potential turnaround in Floki Inu's price action. By increasing its accessibility in a market where it enjoys considerable popularity, Floki Inu could witness an uptick in trading volume and possibly price appreciation.
It is worth noting that, despite the listing, Binance TR issued a risk warning to its users. The exchange highlighted the high-risk nature of the cryptocurrency market and advised users only to risk capital they can afford to lose. This caution reflects the inherently volatile nature of meme coins, which often experience wide price swings.
Vladislav Sopov