Exciting News for FLOKI Holders: Coinbase Listing on the Horizon
Key Highlights:
- Coinbase listing FLOKI on November 21 could boost liquidity and market interest.
- Technical analysis suggests a 30% price surge if FLOKI breaks consolidation levels.
- On-chain data shows increased transaction volume, signalling a potential bullish trend.
The recent announcement of Coinbase’s decision to list FLOKI, a popular dog-themed meme coin on the Ethereum network, has generated considerable excitement within the crypto community. With a market capitalization of $2.3 billion, FLOKI has already established a strong presence on major exchanges like Binance and Bybit.
However, its upcoming listing on Coinbase, the largest cryptocurrency exchange in the United States, could mark a significant milestone for the meme coin in terms of price performance and overall market recognition.
Anticipated Impact of FLOKI Listing on Coinbase
The inclusion of FLOKI on Coinbase, scheduled for November 21, 2024, is expected to enhance the token’s liquidity, particularly with trading set to commence on the FLOKI/USD pair. This move is likely to attract a surge in trading activity and investor interest.
Although the initial announcement led to a 14% price spike for FLOKI, the token experienced a slight decline of over 5% in the 24 hours following Coinbase’s confirmation. Nevertheless, there was a notable 17% increase in trading volume, indicating a heightened level of market engagement.
Technical Analysis of Floki Price
Technical analysis suggests that FLOKI is on the brink of a breakout, with indicators pointing towards a potential upward movement. A descending triangle pattern on the four-hour timeframe indicates the possibility of a significant price surge if FLOKI breaches the current consolidation range.
Experts predict a 30% increase in FLOKI’s price if it surpasses the $0.000275 level, potentially reaching $0.00035 in the near future. The presence of the 200 Exponential Moving Average (EMA) further confirms FLOKI’s uptrend, with the price consistently above this crucial indicator.
Bullish Trends in On-Chain Data
Aside from technical signals, on-chain data also reveals positive trends for meme coins like FLOKI. There has been a notable increase in large transactions, with a substantial 98% rise in SHIB’s transaction volume, driven by institutional investors and whales.
Despite a 12% drop in open interest for FLOKI on November 20, as reported by Coinglass, traders are likely awaiting a breakout to position themselves for a potential rally.
As the date of Coinbase’s listing approaches, the future looks bright for FLOKI. With favorable technical indicators and growing market interest, FLOKI could be gearing up for significant price movements in the weeks ahead.
