Floki Inu, one of Shiba Inu's biggest rivals, is leading the altcoin momentum today as its price is changing hands at $0.00003846, soaring by 35.16% over the past 24 hours. At a time when Bitcoin (BTC) is helping to prolong the altcoin price slump, Floki Inu has wriggled away from the bearish trend and has pared off the losses it accrued over the past week.
Floki Inu is one of the top flyers in the meme coin world, and the current price action was fueled after the protocol announced its listing on Binance.US exchange.
#Floki is now live on #BinanceUS 🔥— FLOKI (@RealFlokiInu) April 24, 2023
This is MASSIVE news that further legitimizes Floki and makes it clear that we firmly complete the #memecoin trilogy with $DOGE and $SHIB!#Binance is the world's biggest, most trusted, and most recognized #crypto brand. https://t.co/YfgkmnFPi7
The listing stands as one of the most important ones for the meme coin as a listing on Binance.US is a conduit to connect with a new and larger market in the most important market for digital currencies. Trading on Binance.US is also a vote of confidence in the meme coin, considering the fact that the United States Securities and Exchange Commission (SEC) is increasing its crackdown on key digital currencies being floated by trading platforms.
Floki Inu's community is particularly excited for the listing, reviving the ecosystem in a way that shows great promise for the protocol's future.
Joining meme coin dominance war
The current upsurge in the price of Floki Inu has effectively helped it to increase its market capitalization. According to data from CoinMarketCap, the market cap of the Shiba Inu rival jumped by exactly 35% to help it reclaim a spot in the top 100 of most valuable digital currencies.
While Floki Inu is used to being in the spotlight for its high volatility, the current price action has even helped it gain more publicity for joining the meme coin dominance war. While Dogecoin (DOGE) and Shiba Inu appear to be the visible leader in the niche, Floki Inu is notably tagging along closely.