Meme token Floki Inu (FLOKI-USD) is enjoying the fruits of a new big-name listing today. Indeed, the FLOKI crypto is up nearly 20% heading into afternoon trading after launching on Huobi Global. Floki fans are surely all smiles today as the No. 2,858 crypto by market capitalization enjoys a jump.
So what do you need to know about FLOKI’s latest foray into the green?
Well, the meme crypto is seeing immediate gains from this morning’s listing on Huobi. The No. 6 crypto exchange by volume, a Huobi listing alone is usually enough to get the bulls out of bed. This appears to be the case today as FLOKI’s trading volume increases 105%.
Floki Inu has been on a general downtrend since it saw its historic peak last November. This comes despite having a relatively strong social media presence and a number of new developments. Today’s gains comes as a refreshing change of pace.
FLOKI Crypto Remains Focused on Fundamentals
Today’s move higher comes on the tail of a number of recent FLOKI developments. The @RealFlokiInu Twitter account recently posted a new issue of the weekly Floki newsletter.
— Floki Inu (@RealFlokiInu) March 2, 2022
The meme token highlighted a number of recent deals, including a partnership with Alfa Romeo’s F1 racing team. Cryptos and sports have seemingly been a match made in heaven lately, and as they say, all dogs go to heaven.
It’s unclear if FLOKI will be able to transform its current momentum into long-term gains, but enthusiasts will surely keep an eye on its price heading further into the year.
On the date of publication, Shrey Dua did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.