-->Binance Pay’s more than 12 million users can now use the memecoin FLOKI as a means of payment for goods and services around the world. Binance Pay is a crypto payment solution that partners with thousands of online and offline retailers and service providers.

What is FLOKI?

FLOKI is a memecoin that basically competes with projects like Dogecoin and Shiba Inu. At the time of writing, FLOKI has a market cap of $1.8 billion, which is quite impressive considering that the token itself is nothing.

People buy these types of tokens only to resell them for more money in the future. The Binance announcement doesn’t seem to help the project much, as over the past 24 hours FLOKI has fallen by almost 6 percent.

FLOKI is also linked to its sister project TokenFi, a platform for the tokenization of assets. In theory, that could create some additional demand for the token. Furthermore, it is rolling out a financial product that makes it possible to open regulated digital bank accounts with FLOKI.

In addition, the project wants to offer staking services. For example, the developers of the project try to add “value” to the tokens in all kinds of ways, but the long-term prospects of course remain poor.

FLOKI on its way to a new all-time high?

However, pseudonymous analyst Kaleo remains optimistic about FLOKI. He sees an opportunity for the token to shoot past its all-time high of $0.0003365, which it reached in November 2021.

“In my opinion, FLOKI will not be stuck under the ATH resistance for much longer. Soon it will be time for a price discovery phase. I expect new all-time highs for FLOKI towards $0.000340,” the analyst said.

At the time of writing, FLOKI is trading at $0.0001972 and is still quite far away from that price. A rise to the all-time high would almost double the current price.

In that respect, that may not be very realistic, but in this industry you can’t really rule anything out completely.

Source: https://bitcoinmagazine.nl/nieuws/miljoenen-mensen-kunnen-nu-memecoin-floki-gebruiken-als-betaalmiddel

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