The post FLOKI’s price profits from Coinbase hype, but here’s why all’s not done just yet appeared on BitcoinEthereumNews.com.

FLOKI has entered the Coinbase roadmap, becoming the third memecoin to do so in the last three days However, despite the initial momentum, a parabolic run still remains elusive Floki [FLOKI] just got a major boost with its listing on Coinbase, capturing the attention of investors. Coincidence or not, this listing came on the back of the market’s recovery, giving FLOKI a strong shot at a parabolic run. While the 70% weekly gains could mean momentum for the altcoin, some may say the market’s getting overheated. However, this bull cycle feels different, especially with Bitcoin entering a high-risk zone. Typically, at this stage, investors are likely to seek low-risk, high-cap assets to redistribute profits from the post-election bull cycle. Especially since BTC has already been pushed to a new ATH of $93k. As a result, it may still be too early to say if FLOKI is gearing up for a correction. If anything, with its Coinbase listing and investors seeking safer bets, FLOKI could be primed for a big move ahead. Whales accumulate FLOKI, but there’s a catch Over the past two cycles, the market has undergone a significant shift, making memecoins less susceptible to sudden swings as more investors recognize them as a growing asset class with real use cases. Until the last cycle, DOGE reaped the most benefits. However, this cycle has brought a shift even within the memecoin community. Over the last three days, Coinbase has listed three top memecoins – PEPE, WIF, and FLOKI – on its roadmap. The massive surge that followed, with each coin posting a daily high of over 20%, truly showcased their vast hold on the market, even pushing top altcoins behind. In the future, this shift will likely steer major memecoins, including FLOKI, to capture notable capital flows away from Bitcoin during…

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Filed under: News - @ November 17, 2024 4:06 am