Source: Shutterstock. Floki coin logo on a smart phone.
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Floki, the dog-themed meme currency based on Ethereum is gaining momentum after Coinbase confirmed on Wednesday that the asset would be listed in the next day.
Trading volume for Floki jumped by 99.4% during the past 24 hour period, indicating a surge of market activity following Coinbase's confirmation that trading for Floki will begin at 9 AM PT Thursday once it meets the exchange's liquidity conditions.
According to reports, the meme coin has risen 15% in 24 hours. Decrypt The following are some of the most effective ways to increase your ROI:The stock market reached a five-month high on Tuesday before retracing a little.
Coinbase says that the listing is being launched in phases. Support for Floki might be limited based upon supported jurisdictions. Support for the token is limited to its ERC-20 form.
Post-Trump, the meme coin market is booming
The popularity of meme coins has soared since Donald Trump’s election. Trump's You can win a lot of money November 5
Dogecoin’s market cap has increased $30 billion over the past week. The token Bonk, based in Solana has grown by more than 80%.
Floki’s price has increased by over 600% in the last year. It is now less that 20% from its previous high of $0.00034.
The sector's explosive growth has attracted institutional attention, too, with crypto trading firm DWF Labs Launching The fund will focus on projects involving meme coins.
The fund is aiming to invest in tokens that show "strong community engagement" You can also find out more about the following: "unique value propositions" despite the segment's reputation for high volatility and speculative trading.
"Meme coins are a powerful cultural force within the crypto landscape, often uniting communities around shared humor and creativity," In a press release on Tuesday, Andrei Grachev stated that DWF Labs is managed by Andrei Grachev.
Degens might, however be of the contrary opinion.
Meme coins are a unique investment because they attract investors purely for their hype and returns.
Floki the viking dog is a cute and lovable pet with all of the rage a pet can have.
Named after Elon Musk's pet Shiba Inu, and its association with Musk, who Supported Donald Trump during the electionIt has been a success in the degen communities.
The FLOKI listing follows Coinbase's recent addition of other prominent meme coins, including Pepe (PEPE) and Dogwifhat (WIF). Both tokens experienced significant price increases upon listing. PEPE gained over 50% in just 24 hours following simultaneous listings on Coinbase and Robinhood.
The meme coin is currently ranked 49th in CoinGecko, with a $2.68 billion market cap. It’s primarily traded at Binance, where the FLOKI/USDT pairs recorded $264,000,000 in 24-hour trading volume. The token's total daily trading volume across all exchanges reached $1.34 billion, marking a 100.8% increase from the previous day.
Sebastian Sinclair edited the book
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