Nov 16, 2024

6thTrade


The dog-themed Ethereum meme coin Floki (FLOKI) emerged as one of Friday's top performers, surging after a major cryptocurrency exchange announced it had added FLOKI to its listing roadmap. The news propelled the token to a five-month high, breaking above $0.00027, with a 21% increase in less than an hour, according to data from CoinGecko.

Over the last 24 hours, FLOKI has risen by 16%, recovering from earlier losses as the crypto market experienced a broader correction. Over the past week, FLOKI’s price has nearly doubled, reflecting strong momentum following this announcement.

Major Exchange Boosts Floki

The listing roadmap includes cryptocurrencies under consideration for spot trading by the centralized exchange. While not a guarantee of immediate listing, the exchange’s recent rapid moves have fueled optimism. For example, earlier this week, the exchange added Ethereum's Pepe (PEPE) and Solana's Dogwifhat (WIF) to its roadmap and launched spot trading for both the same day.

The announcements have driven significant gains for meme coins, with PEPE hitting an all-time high after the news. These moves highlight the increasing importance of meme coins in the crypto space, particularly as they gain attention from larger platforms.

Meme Coins Gaining Ground

Floki, named after Elon Musk’s real-life dog, now ranks among the top 50 cryptocurrencies by market cap, according to CoinGecko. It shares this space with other notable meme coins, such as Dogecoin (DOGE) and PEPE, as investor interest in the meme coin sector remains strong.

Historically, major exchanges have been slower than rivals to embrace meme coins. However, recent political developments—such as Donald Trump’s election as U.S. President and his promises to ease crypto regulations—may be encouraging faster adoption of such assets.

Dogecoin Leads, FLOKI Shines

While Dogecoin (DOGE) remains the most valuable meme coin, its cooling momentum has shifted attention to other tokens like FLOKI. Earlier this week, DOGE surged to a three-year high, more than doubling in price. However, it has since declined by 4%, creating an opportunity for FLOKI and other meme coins to capture investor focus.

The recent surge in meme coins aligns with broader bullish trends in the crypto market. Bitcoin recently reached a new all-time high of $93,000, surpassing its previous peak by $20,000. This market-wide rally has further fueled speculative interest in meme coins, solidifying their place in the evolving crypto ecosystem.

Floki’s rapid rise and inclusion in the listing roadmap of a major exchange underscore the growing influence of meme coins and their potential for significant price movements, especially when backed by influential platforms and narratives.