- Binance Thailand listed FLOKI, sparking a double-digit bullish breakthrough.
- Thailand ranks in the top 10 for national cryptocurrency adoption.
- Analysts have discovered key similarities in the performance of FLOKI & PEPE.
Viking-themed meme coin Floki (FLOKI) expands its customer base to Thailand. According to the 2023 Global Crypto Adoption Index calculated by Chainalytic, cryptocurrency-friendly countries have clear regulations and strong adoption rates of 12%.
The move by the Binance subsidiary in Thailand opens the doors to the FLOKI cryptocurrency to an audience of 69 million, 10 million of whom are already using blockchain in their daily work. Binance Thailand is regulated by the Ministry of Finance and supervised by the Securities and Exchange Commission of Thailand.
As Thais are known to use cryptocurrency payments for everyday transactions, the FLOKI cryptocurrency joins the list of popular altcoins such as Solana (SOL), Ripple (XRP), and Ethereum (ETH) against the Thai Baht ( THB). Following this news, FLOKI posted daily gains of 13.3%, leading to a weekly bull run with 7-day gains of 18%.
Will FLOKI follow PEPE’s path to glory?
Among Floki’s cryptocurrency meme coins and similar meme coins, PEPE recently saw the biggest gains, reaching a market capitalization of $4.8 billion. Although Floki’s historical price movements are highly correlated with Pepe’s, Floki’s global market capitalization is currently more than two times smaller at $1,955,788,722.
Many cryptocurrency analysts believe that a lower market cap gives FLOKI more room to grow. For example, cryptocurrency trader Rise To The Moon predicts that FLOKI’s market capitalization will reach $20 billion in the next bull market. In this case, the FLOKI cryptocurrency could challenge Dogecoin (DOGE) for top status.
As of press time, FLOKI is trading at $0.0002172, according to CoinGecko. Floki, which entered the top 50 cryptocurrencies by global market capitalization, has soared to a current monthly return of 39% and an annual return of 508.2%. Meanwhile, PEPE soared 545.8% during the same period.
On the flip side
- One of the key differences between competing meme coins FLOKI and PEPE is market depth and on-chain liquidity.
- According to the consolidated liquidity ledger, Pepe’s daily trading volume was five times greater than Floki’s at $2.7 billion and $574 million, respectively.
Why This Matters
Meme coin season is starting again after GameStop’s revitalized stock hit Wall Street and delivered a double-digit rally for the meme sector.
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