Popular Meme Coin Ends Critical Vote: Unanimously Approved!

The cryptocurrency market is entering the new year with new searches. As adoption towards the crypto world increases, projects are adjusting their positions accordingly. The decentralized autonomous organization (#DAO ) that manages #Floki Inu has held a critical vote. It also achieved the expected result from this vote. However, this development has not had a significant impact on the meme coin price for now.

The decentralized autonomous organization (DAO) that manages the meme coin Floki (Floki DAO) has unanimously decided to use a portion of the 16.3 billion $FLOKI tokens in its community redemption wallet as liquidity for the upcoming Floki exchange-traded product (ETP). The Floki ETP will go live in the first quarter of 2025. This ETP will provide traditional finance investors in the European market with exposure to memecoin, which is currently ranked as the 66th largest cryptocurrency by market capitalization on CoinMarketCap.

Following the acceptance of the community proposal, a Floki spokesperson said that the ETP listing would add legitimacy to the community-driven memecoin. In this regard, “The Floki ETP will be launched on SIX Swiss Exchange, the largest exchange in Switzerland and the third largest in Europe, in an almost unprecedented move for meme coin legitimacy.”

According to CoinGecko, memecoins were the second best-performing crypto narrative of 2024. The sector returned an average of 2,185% to investors throughout the year. This is second only to AI, which returned around 2,939%.

Another CoinGecko study revealed that memecoins had the largest mind share among crypto investors in 2024. In this regard, it explained that it accounted for approximately 31% of total investor interest. In October 2024, Google search interest for memecoins surpassed search interest for Bitcoin. Memecoins recorded a search interest of 77 out of 100 for the month, compared to Bitcoin’s 33.