Floki Inu Dull, Motionless Following Binance Metaverse Integration – Here’s Why

Christian Encila

1 year ago

4 mins read

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Binance, the global crypto exchange renowned for its vast scale and influence, has taken a step towards promoting the widespread acceptance and usage of Floki Inu, the popular memecoin that has captured the attention of crypto enthusiasts worldwide.

Embarking on a strategic initiative, Binance has ingeniously incorporated Floki Inu into two exceptional categories within its expansive ecosystem, namely the Metaverse and Gaming sections.

With this development, Binance has effectively opened up new avenues for the crypto named after billionaire Elon Musk’s dog, propelling its growth trajectory and solidifying its position as a prominent player in the ever-evolving crypto landscape.

#Binance has added $FLOKI to the #Metaverse and #Gaming categories on its exchange! 🔥

This is a big deal and allows millions of users to trade #Floki alongside top metaverse and gaming cryptocurrencies like $SAND, $MANA, $AXS, $IMX, $GALA, and $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 increase the value of their coin, but this was not the case today.

Floki Inu Price Wasn’t Feeling It

At the time of writing, FLOKI price was nearly unchanged, managing to notch a meager 1.4% increase in the last 24 hours, data from crypto market tracker Coingecko shows. In the last seven days, the meme coin was only able to maintain a less than 5% gain.

Source: Coingecko

The dog-themed token was likewise struggling in the 14-day and 30-day timeframes, shedding an average of 30% declines as questions about its capability to reclaim its recent strong performance mount.

Source: Coingecko

Floki’s popularity has been on the rise in recent months, making it the fourth largest meme coin by market cap. Bitci, a leading cryptocurrency exchange in Turkey with more than 5 million customers, has added support for the token.

The meme coin’s recent tweet, stating its 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 has essentially set up the way for the meme coin to flourish in the field of virtual reality and digital environment.

By also realizing Floki Inu’s potential in the gaming industry, Binance has created a link between the cryptocurrency industry and the ever-evolving world of digital entertainment.

Dismal 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. The social volume measures the amount of buzz surrounding a coin in a certain time frame.

FLOKI weighted sentiment and social volume. Source: Santiment

Like the total social volume, the weighted sentiment of FLOKI remained in the negative zone. Despite some uncertainty, the general attitude toward FLOKI has remained unfavorable as measured by its weighted sentiment rating of (minus) 0.536.

This number is an aggregate expression of opinion across all available data on FLOKI, such as threads, comments, and interactions.

Persistently unfavorable sentiment indicates widespread doubt, anxiety, or discontent about FLOKI and its associated variables among the community and market participants.

If people are generally optimistic while talking about a token, it can be inferred that their opinion toward the asset is good.

In contrast, FLOKI’s predominance of negative numbers indicates that pessimistic commentary predominates. This shows that people are mostly apprehensive rather than optimistic about the meme coin.

Featured image from Sam Cooling x Floki Inu

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

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