- The inclusion of FLOKI on Coinbase on November 21 could boost liquidity and market interest.
- Technical analysis suggests a potential 30% price increase if FLOKI breaks its consolidation levels.
- On-chain data shows higher transaction volumes, indicating a possible bullish trend.
The announcement that Coinbase will list FLOKI, a dog-themed meme coin, on the Ethereum network has attracted substantial attention.
FLOKI, currently the sixth-largest meme coin by market capitalization at approximately $2.3 billion, has already gained significant traction on major exchanges such as Binance and Bybit.
Its forthcoming listing on the largest U.S. cryptocurrency exchange could mark the next major step for the token, potentially affecting both price action and broader market recognition.
Impact of FLOKI’s upcoming Coinbase listing
Support for FLOKI on Coinbase is scheduled to begin on November 21, 2024, at 9:00 a.m. Pacific Time or shortly thereafter. Trading is expected to be available initially in the FLOKI/USD pair.
Following the listing announcement, FLOKI’s price rose about 14%, although the token retraced more than 5% in the 24 hours after Coinbase’s confirmation. Despite the short-term pullback, trading volume climbed roughly 17%, signaling increased market interest.
Floki price technical analysis
Technical outlook for FLOKI shows encouraging signs and suggests the token may be poised for a breakout. On the four-hour chart, analysts identify a descending triangle pattern that nevertheless leaves room for an upside move.
Experts believe that if FLOKI breaks out of its current consolidation range between $0.000232 and $0.000275, the meme coin could climb around 30%, potentially reaching about $0.00035 in the coming days.
The 200-period exponential moving average (EMA) also supports a bullish view, as FLOKI has been trading consistently above this key level.
Technical indicators are not the only bullish signals. On-chain data reveal a notable rise in large meme-coin transactions, including a 98% surge in SHIB transaction volume driven by whales and institutional investors, reflecting broader interest in meme tokens.
However, FLOKI’s open interest fell about 12% on November 20, according to Coinglass, suggesting some traders may be waiting for a clear breakout before re-entering positions.
As the Coinbase listing date approaches, FLOKI’s outlook appears constructive. With favorable technical momentum and growing market attention, the token may be positioned for meaningful price action, making it one to watch in the coming weeks.