Floki [FLOKI] Soars After Binance Announces Support for Simon's Cat [CAT] Airdrop

Floki [FLOKI] has announced that Binance will support an airdrop of the Simon's Cat [CAT] token for users holding FLOKI on the exchange.

Binance will airdrop Simon’s Cat [CAT] tokens to users holding Floki [FLOKI] on the exchange, the meme coin project announced on August 20.

This airdrop is part of a larger effort by the Floki project to introduce a new meme coin, Simon’s Cat, to the market while rewarding its community.

According to an official blog post, Binance will take a snapshot of FLOKI balances on August 29 at 23:59:59 UTC to determine airdrop participants.

Binance users who hold FLOKI at the time of the snapshot will automatically receive CAT tokens without having to move their holdings off the platform. The amount of tokens received will be based on the user’s FLOKI holdings.

To qualify for the airdrop, participants must hold a minimum of 400,000 FLOKI on Binance. At current market rates, this equates to approximately $50 worth of tokens.

Binance will snapshot FLOKI balances at the designated time and credit CAT tokens directly to eligible accounts.

In total, 900 billion CAT tokens have been allocated for this airdrop event, which comprises 20% of Simon’s Cat’s total supply and is dedicated to the Floki community.

Users who meet the criteria will receive CAT tokens at a 1:1 ratio to their FLOKI holdings. For those who qualify, the distribution will be automatic, requiring no further action on the user’s part.

Simon’s Cat is a new meme coin launching on the BNB Chain with a total supply of 9 trillion tokens. During its presale, the project sold 17% of its tokens to early buyers, raising $4.25 million.

The partnership between Floki and Simon’s Cat, which also involves DWF Labs, aims to expand both projects within the crypto space.

Apart from the airdrop for FLOKI holders, Simon’s Cat tokens will also be distributed through Floki Trading Bot users and members of the crypto community on several top centralized exchanges.

Following Binance’s announcement of support for the Simon’s Cat airdrop, FLOKI experienced a positive market response. The price of FLOKI surged nearly 7% as traders quickly acquired tokens ahead of the August 29 snapshot.

At the time of writing, FLOKI was trading at $0.00012373. Its market cap increased by 3.84%, reaching $1.19 billion.

Additionally, trading volume surged by 115.87%, reaching $282 million in the last 24 hours.

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