A dog-themed meme item competing with Dogecoin (DOGE) and Shiba Inu (SHIB) is flourishing after gaining support from US crypto exchange platform Coinbase.
In a new thread on the social media platform X, Coinbase say it adds support for Floki (FLOKI), a memecoin launched in 2021 inspired by billionaire Elon Musk’s dog.
“Coinbase will add support for FLOKI (FLOKI) on the Ethereum network (ERC-20 token)… Trading will begin on or after 9:00 AM [Pacific time] on November 21, 2024, if the liquidity conditions are met.
Once there is sufficient supply of this asset, trading on our FLOKI-USD trading pair will commence in phases. Support for FLOKI may be limited in some supported jurisdictions.”
News of the addition caused FLOKI to take off, as the token went from a price of $0.000234 to a peak of $0.000283 on November 20. The digital asset has since stabilized and is trading at $0.000256 at the time of writing, up 10.3% over the past 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 it would add FLOKI to its listing roadmap, which the exchange uses for transparency and to prevent tokens from gaining prominence before they are officially listed.
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Generated image: Midjourney