After FLOKI/USD and FLOKI/USDT trading pairs were introduced by Binance US, the price of the memecoin shot up by 40%.
The price of FLOKI, a well-known cryptocurrency that was inspired by memes, has increased by more than 40% during the past 24 hours.
The price spike occurred soon after the asset went live on Binance.US, the company’s American affiliate, platform.
Binance.US, Binance’s division created to provide services to U.S. residents, has added FLOKI to the list of supported coins on its platform and stated that users can trade it against USD and USDT.
wen floki?
Deposits are NOW open for $FLOKI on #BinanceUS!
The @RealFlokiInu ecosystem consists of a Play-to-Earn game, FlokiFi (DeFi), Floki prepaid card (Visa/Mastercard), as well as NFT collections and marketplaces, with more to come.
Learn more: https://t.co/eyf4Bdd88j
— Binance.US 🇺🇸 (@BinanceUS) April 24, 2023
The announcement had a beneficial impact on the price of the token, which increased to about $0.00003987, or 40% higher than it was 24 hours before.
On the cryptocurrency market over the past few months, FLOKI has been one of the top performers. Even if they often don’t seem to be connected, Elon Musk’s involvement with it may be a contributing factor.
In February, one of the wealthiest people on the planet posted a humorous image of his dog wearing glasses and signing a contract to take over as CEO of Twitter.
Given that his Shiba Inu breed is named Floki, it is understandable why the cost of the digital asset with a dog theme, FLOKI, increased by over 40%.
This was not the first time Musk had prompted the price of the memecoin to rise. On Christmas Eve 2021, he dressed his dog in a Santa Claus outfit.
Within the following 48 hours, FLOKI soared by 19,000% before decreasing rapidly after that.