Floki, a rising memecoin, saw its value go up by 8% in the last 24 hours following its listing on Coinbase, one of the cryptocurrencies exchanges. Coinbase announced this on their official account on X (which used to be Twitter), showing they support trading this memecoin, which now has a value of $2.7 billion.
This happened at the same time as the overall market getting better, which helped the price go up. Coinbase tweeted a short message saying:
“Today, we added FLOKI (FLOKI) to our plans.”
This is the second major memecoin listing by Coinbase in just one week. The platform recently added support for PEPE, another well-known memecoin, which saw its value increase by 96.9% in the last seven days.
The worldwide crypto community believes that a more supportive regulatory environment, possibly due to the expected return of Donald Trump as U.S. President, has encouraged crypto exchanges to make bold decisions, such as listing more speculative assets like memecoins.
Coinbase’s decision comes after Robinhood U.S., another big trading platform, recently added PEPE to its list of available assets. Binance, the biggest cryptocurrency exchange in terms of trading volume, has also been actively adding memecoins to its platform. However, Binance has been criticized for including smaller memecoins in its listings, with some people accusing the platform of insider trading.
Despite these allegations, Binance’s decision to list include smaller memecoins like PNUT and Neiro has been praised by some as helpful for the memecoin community, as it helps less well-known projects get more attention.
The memecoin sector has greatly benefited from the current crypto market boom. This month, Ethereum and Solana memecoins have hit new highs, with Dogecoin being one of the best-performing cryptocurrencies among the major ones.
