On Friday, FLOKI, the popular joke cryptocurrency with a dog theme, stole the show from competing tokens, marking a major milestone in becoming an ETP. In particular, the Crypto team strongly supported the Crypto team strongly supported a critical idea to enable liquidity creation that supports the ETP launch. The Crypto team has also announced an ETP launch by next year in response to the proposal’s success in the community’s vote. This launch continues the market hype that began with the Dogecoin ETP launch earlier this year.
Floki ETP Launch Approved for Q1 2025
As of December 27, the Crypto community has voted amazingly in favour of a proposition that supports an ETP launch, according to an official Floki community X post. There was no dissenting vote on the proposal to distribute tokens to create a Floki ETP, indicating the idea has tremendous popularity.
Importantly, if this plan is approved, some of the 16,310,285,772.6 tokens in a “community buyback wallet” will be burnt, and some will fund the ETP. As a result, market analysts are hopeful about a launch soon, and the community is showing significant support for getting the job done.
Consequently, the Crypto community disclosed the intriguing news that the ETP will launch in the first quarter of 2025. An asset manager and an ETP issuer supporting the leading dog-themed meme cryptocurrency collaborated on the construction.
Not only that, but Dogecoin’s exchange-traded product (ETP) launched in November of this year, making it the second major meme coin to achieve this accomplishment. On the other hand, market analysts are still bullish about the meme token’s potential for future price fluctuations since the ETP launch can significantly boost the asset’s visibility in the market.
FLOKI Rises 5% as ETP Announcement Fuels Optimism
Today, the price of FLOKI surged 5% to hit $0.0001797, reflecting the enormous optimism accompanying the ETP announcement. Its 24-hour low was $0.00017 and its 24-hour high was $0.0001816. Intraday trading volume increased by 58% to $349.94 million, indicating that even traders were positively affected by the ETP announcement.
The coinglass data further added to the market’s confidence in the cryptocurrency. With a 10% increase, the meme coin’s futures OI reached $19.53 million. Derivatives volume also jumped 74% to $52.49M. Derivative statistics showed that the asset was very popular with investors. Given the data and trends described above, market experts are still optimistic about the asset’s future performance.
Furthermore, CoinGape recently disclosed that a prominent Crypto analyst has singled out FLOKI for possible breakout and $0.00080 price targets. Regardless of the overall volatility in the market, the bullish anticipation surrounding the dog-themed meme cryptocurrency has managed to attract even more attention.
Final Thoughts
The FLOKI ETP’s certification is a watershed event for the cryptocurrency, demonstrating the overwhelming support from the community and the increased interest from the market. Like Dogecoin’s ETP earlier this year, FLOKI’s expected launch in Q1 2025 can potentially increase its profile and credibility greatly. The recent 5% price spike and increasing trading volumes show that investors feel optimistic, supported by data from derivatives and bullish predictions from analysts.
The ETP launch can potentially revolutionize FLOKI’s market presence, drawing in institutional and individual investors. Market instability is nothing new for this cryptocurrency with a canine motif, but the community’s unwavering backing and encouraging patterns point to great things ahead.
[sp_easyaccordion id=”6087″]
