Floki Inu price is gearing up for a major milestone with the launch of its exchange-traded product (ETP) in Europe.
Set to go live by Q1 2025, this development positions Floki Inu as only the second memecoin to secure an ETP listing on a regulated stock exchange, following Dogecoin.
The over 400% surge in Floki Inu price underscores strong community support and its ambition to attract institutional investors.
Floki Inu Prepares for European ETP Launch
The Floki community has recently adopted a proposal for liquidity for the ETP launch. It is a crucial step to institutional adoption of the coin.
SIX Swiss Exchange, the biggest stock exchange in Switzerland and the third largest in Europe, is expected to list the proposed ETP.
Once approved, the listing will offer institutional investors and retail traders easy and efficient ways of accessing Floki Inu within a well-defined and properly regulated market.
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Floki Inu’s developers are working with an unnamed asset manager to make this happen. The ETP is to establish a connection between the traditional financial sector and the memecoin market to increase the acceptability of the coin in the regular financial markets.
Also, the members behind the Floki project expect the launch to draw more participation from the regulated entities hence, opening up a new use case for the coin and making it more appealing to investors across the globe.
Liquidity Allocation and Community Driven Development
For the ETP, the Floki DAO community has voted on the use of 16.3 billion FLOKI tokens, worth $2.8 million from the community’s treasury.
These tokens will be used to create an early trading market for the ETP. The rest of the ETP tokens will be burnt to enhance scarcity and increase the value of the token.
The move comes after a prior community poll, where tokens were bought on the open market to enhance Floki’s future strategy.
Floki Inu Price Analysis, Market Sentiment
Floki’s ETP has been announced. This has led to price predictions of the token in 2025, and analysts have given more positive signs.
At the time of this writing, Floki Inu is trading at $0.00017810 per coin. However, the token has been experiencing some consolidation after some recent price swings.
Still, it is lagging below critical SMAs which suggests that the medium-term trend is bearish.
The 13-day moving average has continued to under the 49-day moving average as bearish pressure persists. The resistance is seen at $0.00018666 and $0.00020075 while the support is seen near $0.00015000 and $0.00013500.
At current level of RSI at 40.10, the index is nearly in oversold territory. This indicates that there is a possibility of trend reversal in case of an increase in buying pressure.
The current market activity is lower than in previous peaks. Although the recent increase in trading volume may suggest long-term investors interest.
If Floki Inu price manages to break past $0.00018666 with a corresponding rise in volume, analysts believe that it may hit other successful resistance levels.
On the other hand, if the currency falls below $0.00015000, more selling pressure may ensue. The launch of an ETP is expected to increase Floki Inu’s interest for institutional investors.
Regulated entities are thus fostering integration of the digital asset class with traditional finance. This is further bolstered by the fact that Floki can now be used in off-chain payments like in restaurants and retail among others.
