FLOKI is the sixth-largest meme coin by market capitalization and surged with double-digit gains on Tuesday. Binance announced an airdrop of Simon’s Cat (CAT) tokens to FLOKI holders on its trading platform, and traders are rushing to buy FLOKI ahead of August 29.

FLOKI Holders Receive CAT Airdrop on Binance

Binance, one of the largest cryptocurrency exchanges by trading volume, has announced support for the Simon’s Cat token airdrop program for FLOKI holders. The exchange will take a snapshot at 23:59:59 UTC on August 29, 2024, according to the official announcement. The exchange will announce final details such as the number of tokens airdropped to FLOKI holders and additional criteria at the time of the snapshot.

In a blog post, the FLOKI team shared a requirement to hold at least 400,000 FLOKI on Binance, regardless of the value in USD. All eligible FLOKI holders will receive a portion of the 900 billion CAT token airdrop. The tokens will be distributed at a ratio of 1 CAT for 1 FLOKI.

Here are the conditions to participate in the Simon’s Cat airdrop on Binance:

1. Users must hold at least 400,000 FLOKI tokens on Binance to be eligible for the CAT airdrop.

Please note that this refers to the minimum amount of FLOKI tokens a user needs to hold, not the dollar value.

For example: 400,000 FLOKI tokens at a rate of $0.000125 = value of $50. This price may change depending on the value of FLOKI tokens at any given time.

2. Binance will conduct the airdrop based on the snapshot taken on August 29, 2024 at 23:59:59 UTC.

3. $900 billion CAT tokens will be distributed to eligible FLOKI holders on Binance.

4. The airdrop will be distributed proportionally to the amount of FLOKI held by users on Binance. In other words, as long as you hold more than 400,000 FLOKI tokens, holding more FLOKI tokens will increase the amount of CAT tokens you will be airdropped.

Distribution Ratio = 900 billion CAT: Total FLOKI tokens (minimum holding 400,000 FLOKI).

FLOKI can increase by 13%

FLOKI is currently trading at $0.00012373 at the time of writing. The sixth-largest memecoin could continue to rise another 13.3% to test the resistance of the Fair Value Gap (FVG) zone between $0.00014039 and $0.00013453.

The relative strength index (RSI) is currently at 43.49 and is climbing towards the neutral level of 50.

FLOKI/USDT Daily Chart | Source: TradingView

FLOKI could find support at the August 5 low of $0.00009585 in case of a correction.



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