- Floki, the dog-themed coin, is set to be listed on Coinbase, causing a surge in its trading volume and a 15% price jump.
- Floki’s market cap has more than doubled since November, attracting institutional interest in meme coin projects.
- The meme coin’s upcoming Coinbase listing is pushing up its trading fervor and sparking a trading frenzy.
Floki, the dog-themed coin, is set to be listed on Coinbase causing a surge in trading volume and a 15% price jump. The meme coin’s market cap has more than doubled since November, attracting institutional interest in meme coin projects.
Background on Floki
Floki is a dog-themed cryptocurrency inspired by Elon Musk’s Shiba Inu dog named Floki. The meme coin was created in June 2021 and runs on the Ethereum blockchain.
Floki aims to be the cryptocurrency of the metaverse and has an ambitious roadmap including an NFT gaming metaverse known as Valhalla. The project is led by a team of developers known pseudonymously as Vikfloki, Hodler and James.
Recent Developments
Floki’s upcoming listing on Coinbase has caused a flurry of interest in the meme coin. Being listed on the mainstream exchange provides legitimacy and makes Floki easily accessible to a wider range of investors.
The anticipated listing has already pushed up Floki’s trading volume by over 600% in the last 24 hours. Floki has also seen a 15% price jump amid the surge of interest.
Floki’s market capitalization has more than doubled since November, surpassing $2 billion. The coin now ranks among the top 50 cryptocurrencies by market cap, demonstrating the power of meme hype.
The growth has been driven in part by support from prominent figures like Elon Musk along with a coordinated community marketing campaign led by Floki influencers.
Institutional Interest
The surge of interest in Floki signals growing institutional fascination with meme coins as an asset class.
While meme coins are still considered highly speculative, the massive gains posted by Dogecoin and Shiba Inu have captured Wall Street’s attention.
Major funds like ProShares now offer meme coin ETFs that track baskets of popular dog-themed coins. Crypto exchanges like OKX have launched meme coin indexes as well.
Floki’s parabolic growth and Coinbase listing adds further validation. This could perpetuate a self-fulfilling prophecy of more institutions jumping on the meme coin bandwagon.
Conclusion
Floki’s viral meme energy and rabid online community have powered its ascent. The Coinbase listing provides a new level of legitimacy that could propel Floki to even greater heights.
With the mania for meme coins showing no signs of abating, Floki has emerged as a contender to watch in the space. Its price action and mainstream debut lend credence to the narrative that memetic investor demand could make dog coins the asset class of the future.
