Binance will airdrop Simon's Cat (CAT) to FLOKI holders, causing a roughly 7% rally
For those who possess the meme currency Simon's Cat (CAT) on Binance, FLOKI has announced that the exchange would be supporting an airdrop.
The official notification states that the exchange will take a snapshot at 23:59:59 UTC on August 29 and use it to launch an airdrop.
With a price of $0.00012729, FLOKI has gained almost 7% today.
The meme token FLOKI surged by double digits on Tuesday, propelling it to the position of sixth biggest meme currency by market valuation. Exchange platform Binance has offered an airdrop of Simon's Cat (CAT) tokens to FLOKI holders, and traders are rushing to purchase FLOKI before August 29.
Airdrop for CAT on Binance for FLOKI holders
The airdrop of Simon's Cat tokens to FLOKI holders has the backing of Binance, a major cryptocurrency exchange by trading volume. According to a formal statement, the exchange will conduct a snapshot on August 29, 2024, at 23:59:59 UTC. Final specifics, such as tokens dropped to FLOKI holders and further criteria, will be disclosed by the exchange at the snapshot.
Some of the restrictions laid forth by the FLOKI team in a blog post include keeping a minimum of 400,000 FLOKI on Binance, regardless of their worth in US dollars. An airdrop of 900,000,000 CAT tokens will be sent to all eligible FLOKI holders. One CAT will be issued for every FLOKI token, according to the users' proportionality.
The current price of FLOKI is $0.00012373. An further 13.3% increase and a surge to the top threshold of the Fair Value Gap (FVG) between $0.00014039 and $0.00013453 are possible outcomes for the sixth biggest meme currency.
If there is a decline in the meme coin price, FLOKI might find support around the low of $0.00009585, which occurred on August 5.
