Cryptocurrency project Floki has announced that Binance, the world’s largest crypto exchange, will support the upcoming airdrop of Simon’s Cat for holders of the FLOKI token.

According to a blog post published by Floki on Aug. 20, Binance will support the meme coin’s airdrop, following a snapshot that the exchange will take on August 29, 2024.

“If you hold FLOKI on Binance, you do not have to move your tokens off Binance as you will be airdropped $CAT directly to your Binance account,” said the Floki team.

Important Information for Floki Users

Eligible airdrop participants must hold 400,000 or more FLOKI on Binance, which translates to about $50 worth of tokens at current prices. The CAT airdrop for FLOKI holders will distribute a total of 900 billion CAT tokens, representing 20% of the total supply that Simon’s Cat has allocated to the Floki community.

Simon’s Cat is a meme coin with a total supply of 9 trillion CAT and will launch on the BNB chain. Floki and DWF Labs are key partners of the project, which raised $4.25 million in a presale by offering 17% of the supply to early buyers.

The Simon’s Cat airdrop will also benefit Floki Trading Bot users and members of the crypto community across top centralized exchanges.

The Rise of Meme Coins

Meme coins have become a significant part of the crypto ecosystem, contributing to trading activity and volumes on chains like Solana and Base. However, the meme coin craze has slowed down in recent months, with volume on Solana declining significantly.

Traders on platforms that allow for the launch of instantly tradable tokens have also largely been unprofitable. Despite this, the ecosystem still attracts considerable interest among enthusiasts, with Tron’s meme coin fair launch platform SunPump being the latest entrant in the market. Tron founder Justin Sun remains optimistic about the meme coins market on the TRON network.

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