Floki, a fledgling memecoin has surged by 8% in the last 24 hours following the asset’s listing by Coinbase. Coinbase commented on X on its decision to offer trading support to the memecoin which has a market capitalization of $2.7 billion.
The announcement was made during a market-wide recovery which added to the price surge of FLOKI.
“Assets added to the roadmap today: FLOKI (FLOKI)” Coinbase tweeted
This is the second big listing of memecoins by Coinbase within a week. On Wednesday the leading crypto exchange also announced its listing of Pepe another mammoth memecoin that has been around for a while.
Coin base’s listing and endorsement of Pepe contributed to the memecoin surging by 96.9% in the last 7 days.
The global crypto community speculated that the proposed arrival of Donald Trump as the 47th president of the United States has resulted in a relaxed regulatory environment steering crypto businesses toward more expansive decisions.
Aside from Coinbase, Robinhood U.S. a trading platform also listed PEPE recently.
Binance, the largest cryptocurrency exchange by trading volume has listed several meme coins as well, although some of the choices by Binance were deemed controversial.
- Binance has been at the center of controversy for its listing of lower cap memecoins. The exchange has been accused of insider trading by many while others commended the platform’s recognition of small memecoins arguing that it is great for the memecoin industry.
- Binance recently listed PNUT and Neiro, two lower cap memecoins doing very well in the market. This was quite unlike Binance which usually lists only big memecoins with enough social proof.
- The memecoin category of cryptocurrencies has been the biggest beneficiary of the crypto bull run.
- Ethereum and Solana’s memecoins have reached all-time highs this month with dogecoin being one of the highest performers in the list of top 10 crypto assets.
Other memecoin Success stories such as Dogwifhat and Bonk contributed to a surge in activity on memecoin service providers like Pump. fun.
What to Know
- Pump. Fun is a Solana-based memecoin generator that enables the creation of a memecoin with just a few clicks. The tool has been criticized for being abused by bad actors to create pump and dump memecoins.
- Pump. Fun has generated over $100 million in revenue within its first few months. The memecoin generator is rivaled by Tron-based Sunpump another memecoin generator hoping to mirror the success of Pump fun.
- Floki at the time of report is exchanging hands for 0.00024