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Coinbase meme coin Floki to its listing roadmap two days after announcing PEPE trading on the largest U.S. centralized crypto exchange.
Floki (FLOKI) surged over 21% in one hour as Coinbase posted about upcoming trading support for the $2.7 billion meme coin. The timing of the news coincided with a market-wide recovery, bolstering FLOKI’s price hike.
Assets added to the roadmap today: FLOKI (FLOKI)https://t.co/rRB9d3hSr2
— Coinbase Assets 🛡️ (@CoinbaseAssets) November 15, 2024
It’s the second time Coinbase has added crypto’s older meme tokens. On Nov. 13, the exchange listed Pepe-The-Frog-inspired (PEPE). Data showed that PEPE reached a new all-time high shortly after.
Social media users speculated that a relaxed regulatory environment under President Donald Trump’s administration steered crypto businesses toward more expansive decisions.
Robinhood U.S. also listed PEPE alongside Coinbase. Binance has listed several meme coins, although some of its choices were deemed contentious.
Binance recently announced spot listings for newer low-cap memes like (PNUT) and (NEIRO). Reactions to the platform’s additions ranged from outrage at supposed insider trading to bullish rallying cries calling for more meme coin exposure.
Cryptocurrency excitement conjured by Bitcoin’s (BTC) blast to a $1.8 trillion market cap has been akin to rocket fuel for memes and altcoins. Memes on Ethereum (ETH) and Solana (SOL) reached new highs as Bitcoin reclaimed above $90,000.
The largest meme coins may run atop Ethereum, like Dogecoin (DOGE) and PEPE. Nonetheless, staggering liquidity has flowed into Solana’s ecosystem.
Success stories such as Dogwifhat (WIF) and Bonk (BONK) spurred service providers like Pump.fun, an on-chain launchpad for memecoins. Users used the platform to issue thousands of tokens, Pump.fun generated $100 million in revenue within its first few months.