Floki (FLOKI), an Ethereum meme coin, has surged to a five-month high after Coinbase announced plans to list the token as a potential listing. Meanwhile, Dogecoin ($DOGE ), the most popular meme coin, has seen a slight decline, giving Floki room to shine.

Market Developments

  • Strong Price Increase: $FLOKI has increased by more than 70% in less than ten days, reaching a 5-month high of $0.000283.

  • Reason: Coinbase – a major US cryptocurrency exchange – has put FLOKI on its “listing roadmap”. While there is no guarantee that FLOKI will be available for spot trading, Coinbase has been quick to list new tokens, as it has done with Pepe ($PEPE ) and Dogwifhat (WIF) recently.

Other Meme Coins Benefit

  • Pepe and #Dogwifhat : Coinbase listed spot trading for these two tokens just hours after they were added to the roadmap. This suggests that Floki is likely to be officially listed in the near future, creating further upside momentum.

  • Dogecoin Correction: DOGE, after hitting a 3-year high earlier in the week, has dropped nearly 4% on the day, as the market begins to cool down.

Meme Coin Market Is Booming

  • Currently, FLOKI, PEPE, and DOGE are all among the top 50 cryptocurrencies by market capitalization in the world.

  • Reason for faster listing: Following Donald Trump's election victory, Coinbase is expected to be more flexible in supporting cryptocurrencies, as the regulatory environment in the US could become more industry-friendly.

The General Prosperity of the Market

  • Bitcoin – the largest cryptocurrency – has surpassed its previous high, hitting a record high of $93,000 last week, sparking huge interest in other digital currencies.

  • Meme coins like Floki are taking advantage of this opportunity to attract investor attention.

Conclusion: Market Potential Is Still Huge

Floki's strong growth, coupled with growing interest from exchanges like Coinbase, shows that meme coins and the cryptocurrency market still have a lot of room to grow. Political factors and investor confidence could continue to drive the expansion of this market in the future.