FLOKI Spikes Over 7% In an Hour After Bitfinex Listing Announcement

Trading of FLOKI begins on the crypto exchange Bitfinex on May 5.
At press time, FLOKI exhibited a 72% spike in its 24-hour trading volume.

Another prominent exchange listing for FLOKI is officially announced. Bitfinex, crypto exchange with the fifth largest trading volume, will list FLOKI, the third-largest memecoin by market capitalization.

Notably, all FLOKI deposits will be initiated from Thursday, 10 AM UTC and the trading activities are to begin on May 5, 2023, around 10 UTC. Two trading pairs — FLOKI/USD and FLOKI/USDT — will be functional on the centralized crypto platform.

Henry Child, Head of Tokens at Bitfinex, stated:
“At its core, FLOKI empowers users to take control of their finances. This is a vision shared by Bitfinex and a utility that we are thrilled to pass on to our customers.”

Bitfinex also emphasized its liking toward Floki schools, the memecoin project’s education platforms that are functional in Guatemela, Ghana, Laos and Nigeria.

Is FLOKI Bullish or Bearish?

This new update seems to have bolstered FLOKI’s price gain in the 24-hour window. Remarkably, FLOKI’s price spiked 7.8% in an hour after the Bitfinex listing announcement. The memecoin jumped from $0.00003309 to $0.00003568, as per CoinMarketCap. Also, the trading volume surged 72.41% to stand at $30,296,568.

Numerous exchange listings and updates in recent times boosted the FLOKI ecosystem to attain notable surges and milestones. Significantly, the project’s listing on Binance.US surfaced in the headline on Crypto Twitter. Even so, the memecoin is currently in the bearish zone. The long-term 8-day moving average (8EMA) of FLOKI confirmed it by crossing above the short-term 5-day moving average (5EMA) — a negative crossover. Conversely, the indicator average directional index (ADX) was in the range of 23.63 to highlight the weakness of the prevailing trend.

FLOKI Price Chart (Source: TradingView)

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.