EddieJayonCrypto
21 Nov 24
Meme coins experienced a sharp decline, but FLOKI surged to a 4-month high following a listing on Coinbase. After plummeting, FLOKI rebounded to nearly $0.00029, its highest since June. This surge is attributed to Coinbase's announcement of support for FLOKI, with trading set to commence on November...
FLOKI, a meme coin, defied the broader slump in meme coins by soaring to a 4-month high after being listed on Coinbase. Its price surged to nearly $0.00029, attributed to Coinbase's support and the impending trading commencement on November 21. Despite some loss in momentum, FLOKI remains 10.2% up for the day. This surge is in line with historical trends where Coinbase listings lead to significant price increases.
Following a general decline in meme coins, FLOKI rebounded from a daily low of $0.000226 to reach its highest price since June, despite most other meme coins remaining in the red. Coinbase's announcement of support for FLOKI likely contributed to this exceptional surge. The trading of FLOKI on Coinbase is expected to begin on November 21, contingent upon meeting liquidity conditions, with potential restrictions in certain regions.
Coinbase's listings typically result in noteworthy price hikes, as seen recently with PEPE reaching a new all-time high following support from the Wall Street-listed exchange. The FLOKI surge underscores the significant impact of Coinbase's backing on asset prices within the cryptocurrency market.
Author: Jordan Lyancev Assistant Editor-in-Chief at CryptoPotato