FLOKI Follows PEPE, Gains 18% on Binance Listing in Thailand

Floki is welcomed in Thailand after Binance’s Thai subsidiary spills their listing news.

Pepe the frog and a Shiba Inu pup sitting together in a desert.
Created by Gabor Kovacs from DailyCoin
  • Binance Thailand lists FLOKI, igniting a double-digit bull breakout.
  • Thailand made it to the Top 10 list through national crypto adoption.
  • Analysts find key similarities in FLOKI & PEPE’s performance.

The Viking-themed meme coin Floki (FLOKI) expands its audience to Thailand. The crypto-friendly country bolsters clear regulation and a 12% adoption rate, according to the 2023 Global Cryptocurrency Adoption Index, calculated by Chainalysis.

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The move by Binance’s subsidiary in Thailand opens the door for FLOKI crypto to a 69 million audience, 10 million of whom already employ blockchain for their everyday deeds. Binance Thailand is regulated by the Ministry of Finance and supervised by Thailand’s Office of Securities and Exchange Commission.

As Thai people are known to use cryptocurrency payments for everyday transactions, FLOKI crypto joins a list of popular altcoins like Solana (SOL), Ripple (XRP), and Ether (ETH) to trade against the Thai Baht (THB). Following the news, FLOKI picked up 13.3% daily gains, proceeding the weekly bull run to an 18% 7-day profit.

FLOKI Following PEPE’s Path to Glory?

Among Floki’s crypto meme coin’s meme coin peers, PEPE recently stood out as the biggest gainer, claiming $4.8 billion in market capitalization. While Floki’s historical price movements correlate highly with Pepe, Floki’s global market cap is over two times smaller, currently at $1,955,788,722.

Many crypto analysts believe a lower market cap gives FLOKI more room to grow. For instance, crypto trader Rise To The Moon forecasts a $20 billion market cap for FLOKI sometime in the next bull run. In such a case, FLOKI crypto could throw the gauntlet to Dogecoin (DOGE) for the top dog’s status.

As of press time, FLOKI is exchanging hands at $0.0002172, according to CoinGecko. Knocking on the doors of crypto’s TOP 50 by global market cap, Floki is now 39% up monthly, while the yearly return skyrocketed to 508.2%. Meanwhile, PEPE soared by 545.8% during the same time frame.

On the Flipside

  • One key difference between the competing meme coins, FLOKI and PEPE, is the market depth and on-chain liquidity.
  • According to the combined liquidity books, Pepe’s daily trading volume was five times larger than Floki’s, encompassing $2.7B and $574M, respectively.

Why This Matters

The meme coin season is witnessing a comeback after GameStop’s rejuvenated stocks emerged on Wall Street, serving a double-digit boost for the meme sector.

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This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Tadas Klimasevskis

Tadas Klimaševskis is a Lithuanian journalist at DailyCoin, specializing in covering the lighter side of the crypto industry such as memecoins and pop culture in the metaverse. He has experience as a music artist, English language teacher, and freelance writer, and uses his creative writing skills to summarize valuable information in his work. He is also a strong believer in the potential of blockchain and spends his free time listening to music, traveling, and watching basketball games.