Binance has added USDC to the pairing of BONK and FLOKI.
Despite these developments, the prices of both tokens moved in a negative direction.
If we look at the overall trajectory of the cryptocurrency market since the beginning of the year, we can say that the mimecoin sector has gained the most popularity during this period, and for coins like #BONK [BONK] and #Floki [FLOKI], price growth is likely to continue.
The reason for this is that #Binance recently posted USDC pairs of BONK and FLOKI on its platform. Since Binance is one of the largest centralized exchanges (CEX) in the cryptocurrency space, this development could be very beneficial for these mimcoins.
Binance's extensive user base could open up the tokens to a wider audience, increase their visibility, and attract new investors. This could increase demand for BONK and FLOKI and raise their prices. It could also increase the market value of these tokens, potentially overtaking WIF and PEPE to become one of the top three memcoins.
Despite this update, the prices of both tokens have fallen over the past 24 hours, with BONK falling in price by 2.16% and trading at USD 000002582 at the time of writing.
This correction was part of a larger trend that began on March 4: after testing the $000004820 level, BONK's price fell significantly, showing several lows and highs to the downside, indicating a bearish trend.
The price fell to the $0.00001934 level and then started to gain momentum, which may have been triggered by the recent Binance update.
However, this rise was not significant enough to reverse the current trend. CMF (Chaikin Money Flow) on Binance also declined during this period, meaning that the overall cash flow of memcoin has decreased.
Meanwhile, FLOKI has corrected significantly by 7.72% over the past 24 hours. At the time of publishing this article, FLOKI is trading at USD 00002332.
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