FLOKI price soared to a five-month high after Coinbase included the Ethereum-based memecoin on its listing roadmap.
The token has gained 12% in the past 24 hours and nearly doubled over the week, defying broader crypto market corrections and some analysts claim it could rise by 500% to as much as $0.0015732.
Coinbase Listing Could Send Floki Price Up 500%, Analysts Say
Ethereum-based meme coin Floki (FLOKI) leads as one of the big winners of this week after Coinbase announced it had added the dog-themed token to its listing roadmap.
According to an analyst CRYPTO TISA who says 500% increase in price is to expect. That means, with currents value, FLOKI could reach the price of $0.0015732.
With him agrees Scofield, another analyst on X who claims price of $0,001 seems like a reasonable explanation. He explains that FLOKI listing on Coinbase isn’t just another exchange listing but a validation of what the team has been building and working towards. “Strongest fundamentals, real utility, and now backed by the most trusted name in crypto.”
After the news was announced, the price of Floki Inu surged 21% in under an hour to a five-month-high price above $0.00027. The cryptocurrency named after the real-life dog of Elon Musk is now up by 13% in the last 24 hours, making up for earlier losses during a broader market correction.
Assets added to the roadmap today: FLOKI (FLOKI)https://t.co/rRB9d3hSr2
— Coinbase Assets 🛡️ (@CoinbaseAssets) November 15, 2024
While the Coinbase listing roadmap usually indicates that crypto tokens might be listed in the future, it is still a good ringer for a spot to be added for trading. However, the exchange has recently made rapid changes in its listing, insinuating its growing openness to meme coins.
Coinbase also announced that FLOKI holders can claim a distribution of 3 billion tokens, following the token’s inclusion on Coinbase’s roadmap. The distribution is based entirely on on-chain activity, ensuring that only eligible users who meet certain criteria can claim their share.
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On Wednesday, Coinbase launched both meme coins by listing Ethereum’s Pepe (PEPE) and Solana’s Dogwifhat (WIF) on its roadmap. The coins simultaneously went live for spot trading.
Floki joined other top meme coins after Coinbase’s inclusion of its roadmap catapulted it to a five-month high – as Coingape correctly predicted.
According to CoinGecko, all three meme coins rank among the world’s 50 most valuable cryptocurrencies by market capitalization for now.
Coinbase has traditionally been cautious about meme coins. Still, it’s quickening the pace of their adoption since the election victory of Donald Trump, who vowed to make crypto regulations easier, interpreted as a sign of friendliness.
Dogecoin, the most valuable meme coins, was earlier at the forefront, doubling in value over a week before cooling off. Although the DOGE dropped 4% today, other meme coins, such as Floki, have grasped the momentum and reflect a wider interest in this very quirky market sector.
Coinbase adding Floki to its listing roadmap has helped push the token’s price to new heights. This claim distribution marks another significant milestone for the Floki ecosystem, which is rapidly growing its utility with upcoming DeFi tools and gaming offerings.
