One of Dogecoin's (DOGE) competitors has seen a big jump in price. This happened after Coinbase, a leading U.S. crypto exchange, added Floki (FLOKI) to its listing roadmap.
Coinbase announced this move to boost transparency. It helps prevent insider trading on coins before they get listed.
When news broke about the potential listing, FLOKI’s price surged. It jumped from $0.000217 on November 14th to a high of $0.000280 just hours later. Right now, FLOKI is trading at $0.000239.
FLOKI launched in 2021 and was inspired by Elon Musk’s pet Shiba Inu. It acts as the utility token for the Floki ecosystem, which offers various decentralized finance (DeFi) services on the Ethereum (ETH) and Base blockchains.
Earlier this week, a crypto analyst known as Bluntz shared insights with his 290,900 followers on X. He noted that FLOKI looked ready for a breakout after two days of steady trading.
Looking ahead, Bluntz believes FLOKI could exceed $0.0005, which would be more than double its current price.
He said, “The macro ABC on FLOKI seems complete. We’re inching closer to a three-month accumulation break every day. Once that happens, we could see fresh all-time highs quickly. I’ve added some to my long-term holdings today.”