FLOKI Price: Jumps 20% Following Coinbase Listing News

The price of Floki Inu (FLOKI), the popular meme token, soared over 20% to $0.000283 after Coinbase announced it will allow users to buy, sell, and store FLOKI on its platform.

Data from CoinGecko shows that FLOKI’s 24-hour trading volume hit $1.4 billion, only behind Dogecoin (DOGE), Pepe (PEPE), and Bonk (BONK).

The token value has skyrocketed 76% over the past month, driven by the recent meme token rally and the exchange listing news.

Meme coins are hot as more people pile in!

The Rise of Dog Coins

According to a Nov. 20 statement, Coinbase is adding support for the FLOKI token on the Ethereum network. Trading for FLOKI will be available on both Coinbase and Coinbase Exchange in regions where trading is supported.

Trading is scheduled to begin at or after 9 AM Pacific Time on Nov. 21, provided that sufficient liquidity is available. The exchange stated that the trading of FLOKI-USD pairs will be launched in phases, depending on the availability of the token.

Coinbase’s announcement came after the exchange added FLOKI to its road map last week. FLOKI will join a list of meme coins recently added by the major exchange, including PEPE and dogwifhat (WIF).

Tokens typically enjoy a major price surge upon being listed on major exchanges like Coinbase or Binance, especially for meme coins due to heightened market exposure and community engagement.

PEPE shot up 85%, setting a new record high following the Coinbase listing. Robinhood Crypto also announced the listing of the third-largest meme cryptocurrency on the same day.

Like PEPE, WIF rose from a low of around $2.99 to approximately $4.05 after the Coinbase listing announcement. The bullish momentum sent the token close to its all-time high of $4.83.

Meme Coin Push Continues

With Donald Trump soon back in power and the chance of Trump adopting Bitcoin as a national treasure asset seeming to be a matter of time, Bitcoin has repeatedly smashed fresh record highs.

But the ongoing rally is not lifting the whole cryptocurrency market. Only meme coins, alongside some leading layer 1 coins and AI tokens, have come close to their March peaks.

And in an industry currently driven by community sentiment and social trends, meme cryptocurrencies will never lose the spotlight.

From Dogecoin (DOGE), the meme-coin king, to Pum.fun-launched tokens like Peanut the Squirrel (PNUT), recent weeks have been dominated by the rising popularity of meme coins.

On Wednesday, market maker DWF Labs announced the establishment of a $20 million meme coin fund. DWF views memecoins as a powerful cultural force and aims to support their development into impactful projects. The fund targets promising memecoin projects for investment.

Binance has listed plenty of meme tokens so far this year. Coinbase, while more cautious, is being more active. Established players like Revolut are also offering memecoin products, and structured investment vehicles are emerging.

Meme coins often lack inherent value and rely heavily on community engagement and hype for their price. Many meme tokens are outright scams, but despite the risks, retail investors are drawn by the potential high returns.

The success of Solana’s Pump.fun has led to the setup of similar meme coin launchpads, like Justin Sun’s SunPump. The Solana blockchain, known for faster transactions and lower fees, has become a popular platform for meme coin creation.

On Wednesday, Econia Labs launched Emojicoin.fun, an Aptos-built meme coin creation platform backed by venture capital firm Andreessen Horowitz (a16z). The platform aims to combine financial empowerment with a playful experience, allowing users to engage in real-time discussions and market transactions.

The new platform is expected to expand the options available for meme coin creators, potentially impacting the market share of existing platforms like Pump.fun.