FLOKI is poised for a technical breakout, fueled by its recent listing on the popular U.S. trading platform Robinhood.
According to data from crypto.news, FLOKI surged more than 11% to $0.000118 on August 8 during morning trading in Asia, before settling slightly lower at $0.000117 at the time of reporting.
The day’s price movement was accompanied by a significant boost in trading activity, with volume rising 125% over the past 24 hours.
FLOKI now ranks as the eighth-largest meme coin, boasting a market capitalization of $1.12 billion, just behind Official Trump and SPX6900. In the wider crypto market, it holds the 104th spot by market cap.
The key catalyst for today’s rally was FLOKI’s launch on Robinhood, a major U.S.-based trading platform.
In a post on X, the Floki team called the listing a “huge step forward,” highlighting that it now grants access to over 25 million users on one of the world’s most influential retail trading platforms.
Historically, exchange listings tend to spark short-term price surges, but this momentum often diminishes as speculative buying slows down.
That said, the listing comes amid mixed signals from on-chain data. According to Nansen, whale holdings have declined from a monthly high of 30.5 billion tokens to 28.94 billion, suggesting that some large investors have been selling as prices rise.
On the other hand, the amount of FLOKI held on exchanges has dropped to 2.12 trillion tokens, marking a 5.1% decline compared to last month. This suggests reduced immediate selling pressure and a potential tightening of the circulating supply.
In the derivatives market, sentiment appears more bullish. Data from CoinGlass reveals that futures open interest has jumped 20% in the past 24 hours, reaching $53.6 million—up from this month’s low of $40.2 million. Increasing open interest during an uptrend often indicates that traders are positioning for further gains.
The long-to-short ratio currently stands at 0.86, meaning short positions slightly outnumber longs. If prices continue to rise, this setup could trigger a short squeeze as traders scramble to cover their losses.
