- Coinbase announced its plans to add support for FLOKI.
- FLOKI has been down over 5% in the past 24 hours.
- Donald Trump's presidential election victory could be a major factor fueling Coinbase's recent meme coins listing.
Floki Inu (FLOKI) is down 5% on Wednesday following crypto exchange Coinbase's announcement that the token will begin trading on its platform over the next 24 hours.
Coinbase set to list FLOKI on Thursday
Coinbase is set to list another meme token on its platform following a recent announcement that it will add support for FLOKI. Users will begin trading the token from Thursday if it meets all the necessary liquidity conditions.
The exchange also stated that it will begin trading the FLOKI/USD pair in phases once a "sufficient supply of [the] asset is established." The meme token's support on Coinbase will only be accessible to traders in supported regions.
Coinbase will add support for FLOKI (FLOKI) on the Ethereum network (ERC-20 token). Do not send this asset over other networks or your funds may be lost. Transfers for this asset are available on @Coinbase & @CoinbaseExch in the regions where trading is supported.
— Coinbase Assets ️ (@CoinbaseAssets) November 20, 2024
FLOKI has been down in the past 24 hours, stretching its losses over 5%. The token had witnessed an impressive rally alongside the entire crypto market following the US presidential election, posting nearly 60% gains in the past month. It may likely see a rally after its listing on Coinbase.
With the listing, FLOKI joins the list of recently supported meme coins on Coinbase, including PEPE and dogwifhat (WIF).
Donald Trump's presidential election victory could be among the propellers of Coinbase's recent listing of meme coins across its trading platforms. This is due to expectations of the potential regulatory clarity and support Trump promised the crypto industry during his campaign.
Additionally, Fortune reported that Coinbase's CEO, Brian Armstrong and Trump, spoke via a private call earlier this week.
The meeting, which may pave the way for discussions about cryptocurrency policies in the next administration, comes at a time when Trump is recruiting members for his cabinet.
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