Floki (FLOKI) Shines Amid Crypto Market Retreat, Surges 15% on Potential Coinbase Listing

The price of Floki (FLOKI), a memecoin inspired by the Shiba Inu dog, surged over 15% today amid its potential listing on Coinbase.

The price of Floki (FLOKI), a memecoin inspired by the Shiba Inu dog, surged over 15% today amid its potential listing on Coinbase.

The token, which operates on the Ethereum network, reached a five-month high, sparking renewed interest in the memecoin sector.

Floki Shines Amid Crypto Market Retreat

While the Ethereum-based memecoin’s price soared to new heights, market data showed the broader crypto market experienced a correction. Bitcoin (BTC) retreated from its recent all-time high, impacting memecoins and altcoins. Dogecoin (DOGE) faced downward pressure, dropping by more than 3% to trade at $0.3739.

Assets added to the roadmap today: FLOKI (FLOKI)

https://t.co/rRB9d3hSr2

— Coinbase Assets 🛡️ (@CoinbaseAssets) November 15, 2024

The surge in FLOKI’s value coincides with Coinbase’s announcement of new meme coin additions to its trading roadmap. Earlier this month, the exchange introduced Ethereum’s Pepe Coin (PEPE) and Solana’s Dogwifhat (WIF) for spot trading. Notably, PEPE achieved a new all-time high, benefitting further from a simultaneous listing on Robinhood, which increased its market visibility and capitalization.

Floki’s inclusion in Coinbase’s roadmap has elevated its status among the top memecoins. CoinGecko now ranks it alongside DOGE and PEPE as one of the top 50 cryptocurrencies by market capitalization.

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Coinbase, which has traditionally been conservative in its approach to memecoins, appears to be accelerating their adoption, a shift that may be influenced by political factors. The recent election victory of Donald Trump, who has expressed support for simplifying crypto regulations, may have contributed to the exchange’s openness to memecoins.

Floki Price Action

At the last check, the Floki price jumped 15.25% to $0.0002681 on Friday, November 15. However, the trading volume for this popular meme token dipped by 2.25% to $1.27 billion despite the latest surge.

But the dog-themed crypto attained a fresh 5-month high of $0.0002815, continuing its bullish momentum. On the other hand, it’s worth noting that Pepe Coin and Doogwifhat saw an increase of over 50% and 40%, respectively when Coinbase announced the listings.

Well, one reason for this could be that Floki has just been added to the roadmap as of now and the actual listing isn’t confirmed yet. Whereas, in the case of PEPE and WIF, the exchange made a quick decision with the listing announcement made within a few minutes of addition to the roadmap. Nevertheless, the latest roadmap addition does indicate a potential listing soon as seen in previous cases for the crypto exchange.

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