Floki (FLOKI), the Ethereum-based meme coin, saw a significant surge in trading volume after Coinbase confirmed it would list the token.
Floki (FLOKI), the Ethereum-based meme coin, saw a significant surge in trading volume after Coinbase confirmed it would list the token. In the 24 hours following the announcement, trading volume jumped nearly 100%, and Floki's price increased by 15%. The token is scheduled to begin trading on Coinbase tomorrow at 5 p.m. UTC, once liquidity conditions are met. Initially, only the ERC-20 version of Floki will be supported, and the listing will roll out in phases.
Floki is part of a broader meme coin trend that has gained momentum since Donald Trump's victory in the U.S. presidential election earlier this month. Other tokens like Dogecoin (DOGE) and Bonk (BONK) also saw significant price increases during this period. Floki's price is now just under its all-time high, achieved six months ago, with a 600% increase this year.
Coinbase’s listing of Floki follows its recent inclusion of other meme coins such as Pepe (PEPE) and Dogwifhat (WIF), which saw price spikes after being added to the platform. Floki now has a market cap of over $2.6 billion, with daily trading volume increasing by more than 100% in a single day.
The meme coin market has drawn institutional attention, with DWF Labs launching a $20 million fund focused on meme coins that have strong community support. Despite the speculative nature of these assets, investors are betting on their ability to build large followings.
Floki’s rise is also fueled by its association with Elon Musk’s pet Shiba Inu, which has made the token popular among the “degen” crypto community. This community, known for high-risk trading, has helped drive the value of Floki and other meme coins.
However, the volatile nature of meme coins was highlighted recently by the rug pull of a Solana-based token, GenZ Quant (QUANT), which saw its market cap jump to $85 million before its creator cashed out $30,000.
Coinbase’s listing of Floki follows a private call between the platform's CEO, Brian Armstrong, and Donald Trump. The conversation reportedly touched on potential regulatory changes for cryptocurrency, with some speculating that Trump’s administration could bring favorable policies for the industry.
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