- Floki’s upcoming ETP launch positions it for massive institutional and retail inflows.
- Floki DAO’s unanimous vote strengthens its path toward significant market adoption.
- Technical indicators suggest Floki may be poised for a breakout in early 2025.
Floki Inu ($FLOKI), a memecoin rapidly gaining traction, is making significant strides towards cementing its position in the cryptocurrency landscape. As per $SHIB Knight, a renowned analyst, Floki is the largest memecoin on the Binance Smart Chain (BNB Chain) and is poised to achieve massive institutional and retail adoption.
With its chart showing strong accumulation signals, analysts predict a massive breakout for the token. The recent proposal by Floki DAO to provide liquidity for the creation of a Floki Exchange Traded Product (ETP) has further fueled this bullish sentiment.
Floki DAO Greenlights Liquidity for ETP
According to $SHIB KNIGHT, Floki has the potential to become the next Dogecoin of this cycle. In a historic move, the Floki DAO recently approved a proposal to allocate tokens for the creation of a Floki ETP.
Notably, the proposal passed unanimously, marking the first such instance in the DAO’s history. The liquidity for the ETP will come from a community buyback wallet containing over 16 billion FLOKI tokens. A portion of these tokens will be used for the ETP, while the rest will be burned, reducing the token supply.
The ETP, set to launch in Q1 2025, will be facilitated by a well-established asset manager and ETP issuer. Once live, it will become the second memecoin ETP to debut on a regulated stock exchange, following Dogecoin’s lead. This achievement is expected to position Floki strategically for massive inflows from both institutional and retail investors.
Why the Floki ETP Matters
Exchange Traded Products (ETPs) serve as bridges between traditional finance (TradFi) and cryptocurrencies. Like ETFs, they allow investors to trade assets transparently and securely on stock exchanges. Floki’s ETP will simplify access for TradFi investors, making it easier to buy, hold, and trade FLOKI within a regulated environment. This development underscores Floki’s mission to integrate seamlessly into mainstream finance.
Floki’s Market Position and Technical Analysis
As of publication, priced at $0.000175, Floki has a 24-hour trading volume of $175,957,035. While its price has dipped 2.45% in the last day, technical indicators reveal potential for a rebound.
The Relative Strength Index (RSI) sits at 40.68, signaling a slightly oversold condition and room for a bounce. Additionally, the MACD indicator shows narrowing bearish momentum, suggesting selling pressure may weaken soon. These indicators align with predictions of a potential breakout.