Binance, the global crypto exchange known for its massive scale and influence, has taken a step towards fostering the widespread adoption and use of Floki Inu, the popular memecoin that has caught the attention of crypto enthusiasts all over the world.
Embarking on a strategic initiative, Binance has ingeniously included Floki Inu in two exceptional categories within its extensive ecosystem, namely the Metaverse and Gaming sections.
With this development, Binance has effectively opened new avenues for the crypto named after billionaire Elon Musk’s dog, fueling its growth trajectory and cementing its position as a prominent player in the ever-evolving crypto landscape.
#Binance has added $FLOKI to the #Metaverse And #Gaming categories at the fair! 🔥
This is a big deal and allows millions of users to trade #Floki in addition to top metaverse and gaming cryptocurrencies such as $SAND, $MANA, $AXS, $IMX, $GALAAnd $ENJ.#Floki adoption continues! pic.twitter.com/UKIssfoOih
— FLOKI (@RealFlokiInu) June 16, 2023
The Floki Inu team may have hoped that news of Binance’s decision to add the meme to the Metaverse area would boost the value of their coin, but that was not the case today.
Floki Inu Price didn’t feel it
At the time of writing, the FLOKI award was close unchanged, managed to post a meager 1.4% increase in the past 24 hours, according to data from crypto market tracker Coingecko. Over the past seven days, the meme coin was only able to maintain a gain of less than 5%.
Source: Coingecko
The dog-themed token also struggled in the 14-day and 30-day timeframes, with an average loss of 30% refuse while questions about his ability to regain his recent strong performance mount.
Source: Coingecko
Floki’s popularity has surged in recent months, making it the fourth largest meme coin by market capitalization. Bitci, a leading cryptocurrency exchange in Turkey with over 5 million customers, has added support for the token.
The meme coin’s recent tweet announcing plans to develop a crypto education platform also caused a stir in the crypto community. The University of Floki is an online resource designed to meet the needs of the 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 in the Metaverse section of the exchange, Binance essentially paved the way for the meme coin to flourish in the virtual reality and digital environment.
By also realizing Floki Inu’s potential in the gaming industry, Binance has established a link between the cryptocurrency industry and the ever-evolving world of digital entertainment.
Gloomy social volume figure
Meanwhile, Santiment’s research reveals that FLOKI’s social volume suggests there was minimal excitement or speculation about the token after the Binance metaverse integration was announced. Social volume measures the amount of buzz around a coin in a given time frame.
FLOKI weighted sentiment and social volume. Source: Santiment
Like total social volume, FLOKI’s weighted sentiment remained in the negative zone. Despite some uncertainty, the general attitude towards FLOKI has remained unfavorable, as measured by the weighted sentiment score of (minus) 0.536.
This number is an aggregated expression of all available data on FLOKI, such as threads, comments, and interactions.
Persistent unfavorable sentiment indicates widespread doubt, fear or dissatisfaction with FLOKI and its variables among the community and market participants.
If people are generally optimistic while talking about a token, it can be inferred that their opinion of the asset is good.
In contrast, FLOKI’s predominance of negative numbers indicates that pessimistic commentary predominates. This shows that people are apprehensive rather than optimistic about the meme coin.
Featured image of Sam Cooling x Floki Inu