FLOKI Prepares to Launch Its ETP in Q1 of 2025, the Second Meme Coin to Do So After Dogecoin

FLOKI trades at $0.0001768 in the last 24 hours. Floki to launch its ETP in the Q1 of 2025. FLOKI is set to become the second meme coin to launch a regulated Exchange-Traded Product (ETP) after Dogecoin

Floki to Launch ETP in Q1 2025 after Community Vote

Floki Holders Approve Proposal for ETP Liquidity

Floki to Become Second Meme Coin with a Regulated ETP after Dogecoin

Floki Holders have voted overwhelmingly in favor of a proposal that will support the liquidity needed for the upcoming Exchange-Traded Product (ETP) launch. The proposal was passed on December 27 with 99.9% of votes supporting the initiative. In particular, 332.7 billion votes went toward the Floki ETP initiative.

According to the proposal, part of the 16.3 billion FLOKI tokens from the community buyback wallet will be used to provide liquidity for the ETP, valued at approximately $2.8 million. The remaining tokens will be burned to reduce the circulating supply.

The dog-themed meme coin, Floki, has seen a slight decrease in its price, trading down by over 1.94% in the last 24 hours. The meme coin opened the day trading at $0.0001719 and chose to trade on the downside, marking the lowest at $0.0001730.

At the time of writing, FLOKI was trading at $0.0001768 with a market cap of $1.7 billion. Meanwhile, the daily trading volume of the meme coin has dropped by over 37.48% to $218 million, as per CMC data.

Can FLOKI Break Through the Next Level?

The Moving Average Convergence Divergence (MACD) line of the FLOKI/USDT trading pair is positioned briefly above the signal line. This crossover indicates a shift in momentum toward its bullish side. If the MACD falls below the signal line, it reflects weak buying pressure.

FLOKI chart (Source: TradingView)

Moreover, the technical indicator that accesses the capital flow, Chaikin Money Flow (CMF), is found at -0.14, hinting at negative money flow. The selling pressure is stronger than the buying pressure in the market.

FLOKI’s trading window revealed the short-term 9-day moving average above the long-term 21-day moving average are equally positioned. It is interpreted as a signal to wait for a breakout or for a trend direction. Besides, the daily relative strength index (RSI) is 0.52, indicating the asset’s neutral condition.

The four-hour price trend graph discloses FLOKI’s downside trading pattern. If the current trading level continues, the meme coin might face downward corrections, testing the nearby $0.0001740 support. If it can’t hold this level, it may potentially slip toward the $0.0001710 range.

However, if FLOKI’s nearby resistance is broken, the price could mount up to test $0.0001794 resistance. The asset can break $0.0001818 with further momentum. Trading above this level is likely considered a crucial area for continuing the uptrend.Highlighted Crypto NewsChainlink Whales Ramp Up Accumulation Despite Price Pullback of Over 6%