FLOKI Flourishes As Coinbase Adds Support for Dogecoin (DOGE)-Rivaling Memecoin

A dog-themed meme asset that rivals Dogecoin (DOGE) and Shiba Inu (SHIB) is flourishing after gaining support from top US-based crypto exchange platform Coinbase.

In a new thread on the social media platform X, Coinbase says it’s adding support for Floki (FLOKI), a memecoin launched in 2021 inspired by billionaire Elon Musk’s pet dog.

“Coinbase will add support for FLOKI (FLOKI) on the Ethereum network (ERC-20 token)… Trading will begin on or after 9AM [Pacific time] on 21 November 2024, if liquidity conditions are met.

Once sufficient supply of this asset is established trading on our FLOKI-USD trading pair will launch in phases. Support for FLOKI may be restricted in some supported jurisdictions.”

News of the addition sent FLOKI flying, as the token went from a price of $0.000234 to a peak of $0.000283 on November 20th. The digital asset has since stabilized and is trading for $0.000256 at time of writing, a 10.3% increase during the last 24 hours.

FLOKI acts as the utility token for the Floki ecosystem, which has numerous decentralized finance (DeFi) services on both the Ethereum (ETH) and Base blockchains.

Earlier this week, Coinbase announced that it would be adding FLOKI to its listing roadmap, which the exchange uses for transparency and to prevent the front-running of tokens before they are officially listed.

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Generated Image: Midjourney