Binance, the global cryptocurrency trading platform famous for its vast size and influence, has taken a step towards promoting widespread acceptance and usage of Floki Inu, a popular memecoin that has captured the attention of crypto enthusiasts all over the world.
Embarking on a strategic initiative, Binance has brilliantly integrated Floki Inu into two exceptional categories within its vast ecosystem, the Metaverse and Gaming division.
With this development, Binance has effectively opened new avenues for cryptocurrencies named after billionaire Elon Musk’s dog, driving its growth trajectory and cementing its position as a prominent player in the ever-evolving crypto scene.
# Finance She added $FLOKI to # Metaverse And # games Categories in the exchange! 🔥
This is a big deal and it allows millions of users to trade #Floki Along with the best cryptocurrency and games like $ sandAnd mana dollarsAnd $AXSAnd IMX$And Gala dollarsAnd enj $.#Floki Adoption continues! pic.twitter.com/UKIssfoOih
– FLOKI (RealFlokiInu) June 16, 2023
The Floki Inu team may have hoped that the news of Binance’s decision to add the meme to the Metaverse region would increase the value of their currency, but that was not the case today.
The price of Floki Inu was not felt
At the time of writing, FLOKI’s price is approx without change, managed a negligible 1.4% increase in the last 24 hours, data from crypto market tracker Coingecko shows. In the past 7 days, the meme coin has only been able to maintain a profit of less than 5%.
Source: Coingecko
The dog-themed token was also struggling on the 14-day and 30-day timeframes, throwing off the average 30% drawdown As questions about its ability to recapture its recent strong performance.
Source: Coingecko
Floki has grown in popularity in recent months, making it the fourth largest meme coin by market cap. Bitci, the leading cryptocurrency exchange in Turkey with more than 5 million customers, has added support for the token.
Coin’s recent meme tweet, which mentions its plans to develop an educational platform for cryptocurrency, has also caused a stir in the crypto community. University Of Floki is an online resource designed to meet the needs of an estimated 1 billion cryptocurrency users worldwide by 2025.
As of today, the market cap of cryptocurrencies stood at $1.03 trillion. Chart: TradingView.com
By placing Floki Inu on the Metaverse section of the exchange, Binance essentially paved the way for the meme currency to thrive in the virtual reality space and digital environment.
Recognizing the potential of Floki Inu also in the gaming industry, Binance has created a link between the cryptocurrency industry and the ever-evolving world of digital entertainment.
Dismal social scale
Meanwhile, Santiment’s research reveals that FLOKI’s social volume indicates there was minimal excitement or speculation around the token following the announcement of the Binance metaverse integration. Social volume measures the amount of hype surrounding a currency in a given time frame.
FLOKI weighted sentiment and social volume. Source: Santiment
Like the total social volume, the FLOKI-weighted sentiment remained in the negative region. Despite some uncertainty, overall attitude towards FLOKI remained unfavorable as measured by its weighted significant (minus) rating of 0.536.
This figure is an aggregate expression of opinion across all data available on FLOKI, such as topics, comments, and interactions.
Persistent negative sentiment indicates widespread suspicion, concern, or dissatisfaction with FLOKI and its associated variables among the community and market participants.
If people are generally optimistic while talking about a token, it can be concluded that their opinion towards the asset is good.
In contrast, the dominance of FLOKI for negative numbers indicates that pessimistic feedback predominates. This shows that people are mostly apprehensive and not optimistic about the meme coin.
Featured image by Sam Cooling x Floki Inu