Robinhood US announced the listing of Floki (FLOKI), one of the leading meme coins, on Aug. 5.
However, the token only added a mere 2% on the announcement, surprising some market participants.
The meme coin was down by nearly 7% on Aug. 5 amid a broader cryptocurrency market pullback, with the Robinhood listing failing to give it any noticeable boost.
A $1 billion meme coin
FLOKI is down by roughly 36% from its local high of $0.000158 that was logged on July 23.
Despite the recent price drop, FLOKI still maintains a market cap of roughly $1 billion, which makes it the 107th biggest cryptocurrency as of now.
