Floki Inu Price Targets a Recovery With ETP Launch on the Horizon

• Floki Inu’s ETP to launch on the SIX Swiss Exchange by Q1 2025.
• The ETP is expected to facilitate a bull rally for the coin.

The popular dog-themed memecoin, Floki Inu, has created buzz in the cryptosphere with its upcoming ETP launch in Europe.

Going in the footsteps of Dogecoin, this upcoming exchange-traded-product has garnered significant bullish sentiment toward future actions of other memecoins.

With an over  400% surge in its price this year, Floki’s progress underscores strong community support and its ambition to attract institutional investors.

At press time, Floki Inu price traded at $0.0001801, noting an intraday rise of over 1.10%. Its market cap rose to $1.72 Billion and ranked 66th among the top crypto coins.

Floki Inu Set to Make Waves with European ETP Launch

In the last few months, the Floki community decided to launch a proposal for liquidity for the ETP launch. This is a fundamental step to arrive at the institutional adoption of the coin.

SIX Swiss Exchange, the largest stock exchange in Switzerland and the third largest in Europe is expected to host the proposed ETP.

After the listing, it will provide institutional investors and retail traders with simplified and efficient means of obtaining Floki Inu coin within a transparent and fully regulated market environment.

To achieve this, Floki Inu’s developers are now partnering with an unspecified asset manager. The ETP is aimed at creating a link between the tradiational financial sector and the memecoin market with the view of enhancing the acceptability of the coin in the regular financial markets.

Further, the members behind the Floki project believe that the launch will attract more participation from the regulated entities. Therefore, creating a new opportunity for the coin and making it attractive to investors globally.

The proposal submitted on December 25th was to seek permission to utilize part of the 16.3 billion tokens from the community redemption wallet. This is to provide adequate liquidity for the ETP.

Presently, the tokens have an estimated value of about $2.8 Million. Some of the tokens will be used for funding of the ETP, while the rest of it will be burnt in an effort to reduce the circulating supply.

Floki Inu Price Prediction: Is a Bounce Imminent

On the daily timeframe, Floki Inu price has taken support on the 200 day EMA mark and saw a rise in accumulation.

In case of bounceback from the 200 day EMA mark, it could retest the $0.0002000 mark. Once it breaks the cluster, it could trigger a reversal and may head toward the supply zone of $0.0002500 ahead.

Data from IntotheBlock shows that, Floki Inu coin sees a rise in engagement on the network.

The number of new addresses on the Floki Inu coin has been rising. It noted a surge over 21.56% in the past seven days, while active addresses soared over 9.59% within the same period.

This significant rise relates to the growth in user activity and could fuel a price surge in the coming days.

Furthermore, the On-Balance Volume (OBV) witnessed a notable rise, increasing chances of a rebound.

Going forward, the Open Interest (OI) has risen over 1.34% to $19.30 Million, conveying fresh additions in long contracts in the past 24 hours.

The immediate support zones were $0.0001680 and $0.0001500, whereas the resistance zones were $0.0002000 and $0.0002200.

Disclaimer

This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.