FLOKI Surges 7% in 1 Hour After Bitfinex Listing News

  • Bitfinex will start trading FLOKI on May 5.
  • Currently, FLOKI’s trading volume has increased by 72% in the last 24 hours.

Bitfinex, the fifth largest crypto exchange by trading volume, has officially announced the listing of FLOKI, which is currently the third largest memecoin by market capitalization.

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Starting from Thursday at 10 AM UTC, Bitfinex will begin accepting deposits for FLOKI, with trading to commence on May 5th at 10 AM UTC. FLOKI will be available for trading against two pairs – FLOKI/USD and FLOKI/USDT – will be functional on the centralized crypto platform.

Bitfinex’s Head of Tokens, Henry Child, said that FLOKI allows users to have control of their finances, which aligns with Bitfinex’s values. He also expressed excitement about offering FLOKI to Bitfinex’s customers.

Bitfinex has expressed appreciation for Floki schools, the educational initiatives of the meme coin project that are operating in several countries including Ghana, Guatemala, Laos, and Nigeria.

Is FLOKI Bullish or Bearish?

FLOKI’s price increased rapidly after the announcement of its listing on Bitfinex. Within an hour, the memecoin’s price jumped 7.8%, going from $0.00003309 to $0.00003568. This led to a surge in trading volume, which rose by 72.41% to reach $30,296,568.

FLOKI has gained a lot of momentum due to recent exchange listings and updates. However, the memecoin is currently experiencing a bearish trend, as indicated by the 8-day moving average crossing above the 5-day moving average. The average directional index also shows that the trend is weak. Despite this, FLOKI experienced a significant surge in price and trading volume following its listing announcement on Bitfinex.

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Image source “THENEWSCRYPTO”

FLOKI was on the brink of slipping into the neutral valuation state — neither overbought nor oversold state — as its relative strength index (RSI) was 49.13 at the time of analysis.