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.
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.