FLOKI surges 11% after Robinhood listing as trading volume jumps 125%

FLOKI saw a significant price rally following its listing on the Robinhood trading platform, with the token climbing over 11% to $0.000118 on Aug. 8 before retreating slightly to $0.000117 by press time [1]. This surge came alongside a 125% rise in daily trading volume in the past 24 hours, reflecting heightened market participation [1]. The token now ranks as the eighth-largest meme coin, with a market capitalization of $1.12 billion, placing it 104th overall in the cryptocurrency market [1].

The listing on Robinhood—a platform with over 25 million users—is considered a major milestone for FLOKI, as it broadens the token’s accessibility to a large retail investor base [1]. The Floki team highlighted the move as a “huge step forward,” emphasizing the platform’s influence in shaping market trends [1]. While exchange listings often lead to short-term price surges, the long-term trajectory remains subject to evolving on-chain dynamics.

On-chain data reveals mixed signals. Whale holdings have decreased from a monthly high of 30.5 billion tokens to 28.94 billion, indicating that some large investors may be taking profits [1]. Conversely, the amount of FLOKI held on exchanges has dropped by 5.1% compared to last month, to 2.12 trillion tokens, signaling reduced immediate selling pressure and a potentially tighter circulating supply [1]. Futures open interest in derivatives markets has also risen 20% in the past 24 hours to $53.6 million, pointing to increased positioning for further upside [1].

From a technical perspective, FLOKI has broken out of a falling wedge pattern on the daily chart, with the token rising above the wedge’s upper trendline on Aug. 4. This is typically seen as a bullish formation, indicating weakening downward momentum and the potential for a trend reversal [1]. The MACD line is near a golden cross with the signal line, and the RSI has rebounded to 53 from oversold levels, reflecting returning buying strength [1]. Additionally, on the 4-hour chart, FLOKI has confirmed a breakout from a double-bottom pattern at $0.000113, with support near $0.000098 having held multiple times with increasing strength [1]. Analysts suggest that the next key resistance level lies at $0.000146, approximately 25% above the current price [1]. A breakdown below $0.000098 would invalidate the bullish setup.

The combination of increased retail accessibility, favorable technical patterns, and shifting on-chain dynamics has generated optimism among traders. However, as with any speculative market, caution is warranted, and market participants are advised to closely monitor both price action and whale activity in the coming days [1].

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[1] FLOKI rallies after Robinhood listing, here’s why it could climb even higher (https://coinmarketcap.com/community/articles/6895afa66f90aa33b6fe8ecd/)