Floki, an emerging memecoin, has experienced an 8% price surge within the last 24 hours following its listing on Coinbase. The exchange announced its decision to support trading for Floki, which currently holds a market capitalization of $2.7 billion. Coinbase shared the news via X (formerly Twitter), citing the asset's growing popularity.
The announcement coincided with a broader market recovery, amplifying Floki's upward momentum.
"Assets added to the roadmap today: FLOKI (FLOKI),"
Coinbase tweeted.
This marks Coinbase's second major memecoin listing within a week. Earlier, the platform added Pepe (PEPE), another well-established memecoin, contributing to its 96.9% weekly price increase.
Market Speculation and Regulatory Sentiment
Analysts suggest that the potential return of Donald Trump as U.S. president could signal a more crypto-friendly regulatory environment, encouraging exchanges like Coinbase to expand their listings.
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Robinhood Joins the Trend
Robinhood U.S. also recently listed Pepe, further validating the memecoin's market presence.
Binance's Controversial Listings
Binance, the world's largest crypto exchange by volume, has faced scrutiny for listing lower-cap memecoins:
- Recent Additions: PNUT and Neiro, two lesser-known memecoins, were added despite Binance's usual preference for assets with established social proof.
- Criticism: Accusations of insider trading have surfaced, though some defend the move as beneficial for memecoin diversity.
The memecoin sector has outperformed other crypto categories during the current bull run, with Ethereum and Solana-based memecoins hitting all-time highs.
Memecoin Ecosystem Growth
Success stories like Dogwifhat (WIF) and Bonk (BONK) have driven traffic to platforms like Pump.fun:
- Pump.fun: A Solana-based tool for instant memecoin creation, generating over $100 million in revenue despite pump-and-dump concerns.
- Competitors: Tron's Sunpump aims to replicate Pump.fun's success.
Current Floki Price: $0.00024
FAQs
Why did Floki's price rise?
The Coinbase listing and broader market recovery fueled investor confidence, leading to an 8% surge.
How does Coinbase's listing impact memecoins?
Listings on major exchanges increase liquidity and legitimacy, often triggering price rallies.
What risks come with memecoins?
High volatility and susceptibility to pump-and-dump schemes make them speculative investments.
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Key Takeaways
- Coinbase listings significantly boost memecoin visibility.
- Binance's controversial picks highlight evolving listing strategies.
- Tools like Pump.fun democratize memecoin creation but attract misuse.