FLOKI Surges on Webull Listing, Volatility Amid 24M New Users

FLOKI has listed on Webull Pay, a U.S. retail crypto trading platform with 24 million users. Despite volatile trading, the token settled at $0.00008946, down 1.87%, after a 4% rally and profit-taking. FLOKI's price action coincided with the listing, which increases liquidity and expands access to new holders. Sellers dominate at higher levels, but the token holds above $0.00008900, suggesting underlying support.

Floki (FLOKI), the cryptocurrency associated with the Floki ecosystem, has seen significant movement following its listing on Webull Pay, a U.S. retail crypto trading platform with over 24 million users. The token experienced a 4% rally during the U.S. morning hours, followed by aggressive profit-taking and a subsequent 1.87% decline, settling at $0.00008946.

The listing on Webull Pay, which also supports stocks, exchange-traded funds, options, and bonds, has increased liquidity and expanded access to millions of potential new holders. This development aligns with Floki's stated goal of becoming a widely recognized and used cryptocurrency.

Despite intraday volatility, FLOKI's price action coincided with the listing. The token traded within a range of $0.00008927 to $0.00009483, with a high of $0.00009435 and a low of $0.00008913. Trading volume spiked to 95.85 billion tokens at the height of the rally, more than 56% above the daily average.

Technical analysis indicates that FLOKI showed sharp directional shifts around key psychological levels between $0.00008900 and $0.00009400. Early session gains unraveled quickly as volume dried up post-09:00 UTC rally. Selling pressure became dominant above $0.00009350 with repeated rejections, and a final selloff broke below temporary intraday support at $0.00009000. Despite the downside close, the price avoided deeper breakdowns below $0.00008900.

The token's ability to hold above $0.00008900 suggests underlying support as the market digests the implications of the Webull listing. The listing has positioned FLOKI to benefit from increased liquidity and a broader user base.

Floki's price gain this week has also been buoyed by the mainnet launch of the play-to-earn metaverse game Valhalla, which has seen over 1,000 active players and 1 million on-chain transactions within days of launch.

The combination of the Webull Pay listing and Valhalla's success has contributed to a 17% increase in FLOKI's price over the past week, despite broader market volatility.

Reference List:
[1] https://www.yahoo.com/finance/news/floki-lists-webull-pay-unlocking-181342430.html
[2] https://crypto.news/floki-crypto-price-up-amid-webull-pay-listing-valhalla-traction/