Floki Inu Skyrockets 26% as Coinbase Announces Plans to Add the Token to Its Roadmap

Inspired by Elon Musk's Shiba Inu, the token hit a five-month high, reigniting investor enthusiasm.

Floki Inu (CRYPTO: FLOKI) surged on Friday after Coinbase (NASDAQ:COIN) announced plans to add the token to its roadmap.

What Happened: Floki Inu surged by over 26% after Coinbase announced it was adding the token to its roadmap, a move that often precedes exchange listings. This rally saw Floki Inu’s price reach $0.0002643, bringing it closer to its five-month high of $0.0002815.

The token has rallied nearly 70% over the past month and 45% this week alone, driven by Coinbase’s decision and bullish sentiment across the crypto market.

Floki's market cap now sits at $2.51 billion, placing it on the brink of joining the top five meme coins by valuation.

A trader known as CryptoBullet noted that this reaccumulation phase could lead to a strong price move. The analyst noted three possible targets for Floki—$0.000775, $0.001270, and $0.002810—indicating different levels of potential growth.

Another trader, known as Rise To The Moon, said that a Coinbase listing could push Floki’s price to move beyond $0.0005 in the short term.

Meanwhile, InvestingHaven noted that a price target of $0.000775 is on the cards if Floki breaks through a critical resistance level, with further targets at $0.00127 and $0.00281. However, the crucial support at $0.000122 must hold for this bullish outlook to remain intact.

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Relative Strength Index (RSI) showed the market resetting after being in overbought conditions, making way for another rally. The Average Directional Index (ADX) stood at 34.02, indicating moderate momentum, which could pick up if resistance is breached.

At the time of writing, Floki Inu was up 26.21% over the past 24 hours, trading at $0.000263.