Floki has announced a substantial investment in the new CAT token, derived from the famous animated series “Simon’s Cat.” This decision by Floki’s decentralized autonomous organization (DAO) to allocate $200,000 USDT from its treasury to purchase CAT tokens marks a strategic foray into entertainment-themed meme coins.

“Simon’s Cat,” is an animated show known for its humorous depiction of a mischievous cat and his owner. Through the meme coin launch, the brand might be aiming to explore blockchain technology for broader engagement and monetization.

Simon’s Cat (CAT) Airdrop in Binance

After an approval process, an overwhelming 97.72% of votes within the Floki DAO supported this initiative. Consequently, the Floki DAO will hold CAT tokens as strategic assets in its treasury. Indeed, this investment highlights Floki’s attempt to integrate popular culture into its growth strategy.

Coinciding with this investment, Binance extended its support for the CAT token airdrop, targeting Floki holders on its platform. This support has significantly boosted the Floki token’s market performance, with its value increasing nearly 20% this week.

Read more: Best Upcoming Airdrops in 2024

Additionally, these collaborations aim to enhance liquidity and offer additional val

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Author: Harsh Notariya

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