Floki whipsaws 14% on Coinbase listing

Coinbase's Meme Coin Listing Spree

Just two days after announcing the trading of PEPE, Coinbase unveiled its roadmap for listing another meme coin, Floki (FLOKI).

FLOKI's price surged over 21% within an hour of Coinbase's announcement. The timing coincided with a broader market recovery, further fueling its upward momentum.

Assets added to the roadmap today: FLOKI (FLOKI)
https://t.co/rRB9d3hSr2
— Coinbase Assets 🛡️ (@CoinbaseAssets) November 15, 2024

This marks the second time Coinbase has listed older meme coins, following the addition of PEPE on November 13th. PEPE's price surged to a new all-time high shortly after its Coinbase debut.

Industry analysts speculate that a relaxed regulatory environment under the current administration has emboldened cryptocurrency exchanges to expand their listings.

Robinhood U.S. has also listed PEPE alongside Coinbase, while Binance has added several meme coins, some of which have sparked controversy.

The recent excitement surrounding Bitcoin's surge to a $1.8 trillion market cap has also benefited meme coins and altcoins. Ethereum (ETH) and Solana (SOL) meme coins have reached new highs as Bitcoin reclaim its position above $90,000.

Ethereum-based meme coins like Dogecoin (DOGE) and PEPE remain popular, but Solana's ecosystem has witnessed a significant influx of liquidity.

Platform providers like Pump.fun, an on-chain launchpad for memecoins, have facilitated the creation and trading of thousands of tokens. Pump.fun generated $100 million in revenue within its first months of operation.