TLDR
Floki (FLOKI) to be listed on Coinbase on Thursday, with trading volume jumping 99.4% in 24 hours
Price up 15% in last 24 hours, reaching 5-month high
Token has gained over 600% in the past year
Meme coin market cap doubled since Trump’s November victory
DWF Labs launched $20 million fund focused on meme coins
Floki, the Ethereum-based meme coin inspired by Elon Musk’s pet dog, is experiencing heightened market activity following Coinbase’s announcement of its upcoming listing.
The exchange confirmed on Wednesday that FLOKI trading will commence Thursday at 9 AM PT, subject to liquidity requirements being met.
In the past 24 hours, Floki’s trading volume has nearly doubled, jumping 99.4% as traders position themselves ahead of the listing. The token’s price rose 15% during the same period, touching a five-month high before a slight pullback.
The listing announcement continues Coinbase’s recent pattern of embracing meme tokens, following their addition of Pepe (PEPE) and Dogwifhat (WIF) to their platform. These previous listings resulted in notable price increases, with PEPE gaining over 50% within 24 hours of its simultaneous listing on Coinbase and Robinhood.
Coinbase has outlined a phased approach for the FLOKI listing, noting that support may vary by jurisdiction. The exchange will specifically support the ERC-20 version of the token, providing clarity for traders and investors about which variant they can trade.
The broader meme coin market has shown remarkable strength since Donald Trump’s electoral victory on November 5. Market data indicates that Dogecoin’s market capitalization increased by $30 billion in just one week, while Solana-based Bonk (BONK) recorded gains exceeding 80% during the same timeframe.
Floki’s performance over the past year has been particularly noteworthy, with the token recording a 600% increase. Current pricing shows the token is within 20% of its all-time high of $0.00034, which it achieved six months ago.
FLOKI Price on CoinGecko
The token currently holds the 49th position on CoinGecko’s rankings, boasting a market capitalization of $2.68 billion. Binance remains the primary trading venue for FLOKI, with its FLOKI/USDT pair generating $264 million in 24-hour volume.
Across all exchanges, the token’s daily trading volume has reached $1.34 billion, marking a 100.8% increase from the previous day.
Institutional interest in the meme coin sector is growing, as evidenced by DWF Labs’ launch of a $20 million fund dedicated to meme coin projects.
The fund’s managing partner, Andrei Grachev, highlighted the cultural impact of meme coins in the crypto space, noting their ability to unite communities through shared humor and creativity.
The token’s connection to Elon Musk, through its namesake inspiration from his Shiba Inu pet, has contributed to its popularity within the crypto community. This association, combined with Musk’s public support for Donald Trump during the electoral race, has enhanced the token’s appeal among certain trader demographics.
Unlike traditional cryptocurrencies that often tie their value to specific use cases or market fundamentals, meme coins primarily derive their worth from community engagement and market sentiment. Floki’s brand identity, featuring a viking-themed warrior dog, has resonated with traders and investors.
Trading data shows consistent growth in market activity for FLOKI across multiple exchanges. The increased volume suggests broad market participation ahead of the Coinbase listing, with traders potentially positioning themselves for expected price movements.
The phased listing approach announced by Coinbase aligns with their standard procedures for new token additions. This methodical process helps ensure market stability and proper liquidity conditions before full trading commences.
Recent market data indicates strong support levels for FLOKI, with trading volumes distributed across various exchanges. This broad market presence suggests sustained trader interest beyond short-term listing speculation.
The token’s technical indicators show increased buying pressure in the lead-up to the Coinbase announcement. Market order books reveal growing depth on both buy and sell sides, indicating active market making and trading interest.
Latest trading statistics show consistent volume growth across Asian and European trading sessions, suggesting global market participation in FLOKI trading activity.
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