Coinbase made an exciting announcement recently by adding Floki coin to its list of supported cryptocurrencies. This move came just two days after introducing PEPE trading on the exchange, sparking a surge of over 21% in Floki’s price within one hour. The timing of this news coincided with a broader market recovery, further boosting Floki’s price.
This isn’t the first time Coinbase has embraced meme tokens in the crypto space. Back in November, the exchange listed PEPE, a token inspired by the popular Pepe the Frog meme, which quickly reached an all-time high shortly after. The decision to add these meme coins has raised speculation among social media users, with some attributing it to a more relaxed regulatory environment under the previous presidential administration.
It’s worth noting that Robinhood U.S. also joined the trend by listing PEPE alongside Coinbase. Additionally, Binance has included several meme coins in its listings, albeit some choices were met with controversy. Most recently, Binance announced spot listings for newer low-cap meme tokens like PNUT and NEIRO, eliciting mixed reactions from the community.
The overall enthusiasm surrounding cryptocurrencies, triggered by Bitcoin’s soaring market cap of $1.8 trillion, has significantly impacted meme coins and altcoins. Tokens like Dogecoin and PEPE, which primarily run on Ethereum, have seen substantial growth, while Solana’s ecosystem has also experienced a surge in liquidity.
Highlighting the success stories of meme tokens like Dogwifhat and Bonk, service providers such as Pump.fun have emerged to support the launch and trading of memecoins. Pump.fun, an on-chain launchpad, enabled users to create thousands of tokens, generating an impressive $100 million in revenue within its initial months of operation.
Overall, the addition of Floki coin to Coinbase’s platform, along with the broader acceptance of meme tokens in the crypto community, signifies a growing trend towards embracing new and innovative projects in the digital asset space. As the market continues to evolve and adapt to changing dynamics, meme coins are likely to play an increasingly significant role in shaping the future of cryptocurrency trading and investment.
