Floki has announced that its Perpetual Futures Trading is now live on Coinbase, the leading regulated crypto exchange in the US.
Major Milestone for Floki Community
This listing places the token on the frontline where over 100 million institutional and retail investors can gain exposure to the token.
As per the announcement, members of the community can now trade FLOKI perpetual futures on Coinbase, marking a significant milestone in Floki’s mission to become the world’s most recognized and utilized cryptocurrency.
Coinbase International Exchange confirmed the update, stating that the 1000BONK-PERP, 1000FLOKI-PERP, and 1000SHIB-PERP markets are now fully operational on Coinbase International Exchange and Coinbase Advanced.
Our 1000BONK-PERP, 1000FLOKI-PERP, and 1000SHIB-PERP markets are now in full-trading mode on Coinbase International Exchange and Coinbase Advanced. Limit, market, stop, and stop limit orders are all now available. $BONK $FLOKI $SHIB pic.twitter.com/S2s7TG3Ugz
— Coinbase International Exchange 🛡️ (@CoinbaseIntExch) May 30, 2024
Notably, with Floki Perpetual Futures Trading now live on Coinbase, traders can now use limit, market, stop, and stop limit orders for $BONK, $FLOKI, and $SHIB.
Market Reaction and Initiatives to Boost Demand
Despite this exciting news, the market has yet to react positively. According to CoinMarketCap’s data, Floki has remained in the red since May 29, except for a brief period of approximately 3 hours when it surged above the $0.000227 mark. Currently, it is trading at $0.0002449, down 11.72% in the past 24 hours.
Floki was among the two single digits performing memecoin in the top six assets included in VanEck’s MarketVector Indexes that tracks the top memecoins in the cryptocurrency market. However, the exchange has intensified efforts to drive prices high in recent times.
Notably, the token developers launched a new Telegram-based trading bot for FLOKI token holders on the Binance Smart Chain (BNB) network to boost the demand for FLOKI tokens and create upward pressure on the price.
In another development, Floki DAO the memecoin’s decentralized autonomous organization recently published a 15 billion token burn proposal in its effort to maintain the broader market integrity. This was after a 10% price rally that sparked bullish sentiments in the ecosystem.
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