Simon's Cat Prices Rise 36%: Good News for FLOKI Holders
2024-08-27
Bittime - Simon's Cat (CAT) price surged by 36% in the last week, driven by various underlying developments that caught the attention of the crypto community.
One of the main reasons for this rise is support from Binance, which announced it would support an airdrop of the new meme coin, Simon's Cat, to Floki (FLOKI) holders on its platform.
What happened?
On August 27, Binance announced that holders of at least 400,000 FLOKI tokens on their platform will be eligible to receive the Simon's Cat airdrop.
This news immediately created enthusiasm among the FLOKI community, prompting a significant increase in Simon's Cat prices.
Apart from that, Floki also announced the latest achievements of their trading bot which has reached a trading volume of $11.6 million and more than 10,600 users.
The bot has an average daily trading volume of $2.5 million, indicating rapid adoption among crypto users.
Read also: What is a Banana Gun? Telegram Crypto Bot Listing on Binance July 20
Huge Trading and Investment Competition
More good news for FLOKI holders is the announcement of the trading competition “Floki Trading Bot x Simon's Cat,” where users can earn a share of 1.5% of the total supply of CAT (worth over $3 million) by trading CAT via the Floki Trading Bot.
It is hoped that this competition will further increase interest in Simon's Cat and encourage further adoption.
The Floki community also approved an investment of $200,000 into CAT, showing high confidence in the coin's growth potential.
Additionally, the community is looking forward to another important announcement that will be made on August 27, which according to the teaser video may be related to the launch of a new product.
Why Is This Important?
Predictions from crypto trader, World Of Charts, estimate that Floki is on the verge of a major breakout, with potential upside of up to 200%.
Meanwhile, another chart expert, Long Term, also sees Floki's upside potential and has started buying tokens with a strict stop-loss strategy.
The growing adoption of trading bots has also had a positive impact on the price of FLOKI, where 50% of automated bot trading fees are used to buy and burn FLOKI, which can support the value of the token in the long term.
What is next?
The influence of meme coins like Simon's Cat and FLOKI is expected to be discussed further at Benzinga's Future of Digital Assets event on November 19. This event will explore in depth the impact and future of meme coins in the digital asset market.
With these positive developments, Simon's Cat prices still seem to have room to grow higher. FLOKI holders and other crypto investors should continue to monitor further developments to take advantage of existing opportunities.
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You can buy and sell crypto assets in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
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