This Is Why Floki (FLOKI) Exploded by 27% in Minutes to 4-Month High

TL;DR

While most meme coins experienced sharp declines recently, FLOKI rallied, reaching a four-month peak. The surge is attributed to Coinbase's announcement of adding support for FLOKI.

Coinbase Listing Fuels Surge

CryptoPotato reported a widespread decline in meme coin prices, with FLOKI initially experiencing a 12% drop. However, it swiftly rebounded, recovering all losses and reaching a high of $0.00029, its highest price since June.

Concurrent with FLOKI's surge, Coinbase announced its support for the meme coin, effective November 21st, subject to liquidity conditions and regional restrictions.

Impact of Coinbase Listings

Coinbase listings have historically corresponded with significant price upticks for the listed assets. For instance, PEPE recently surged to an all-time high partly due to Coinbase's support.