GOAT, FWOG & SPX Prices Skyrocket As Kraken Announces Listing

Solana-based meme coins Fwog (FWOG), Goatseus Maximus (GOAT), and SPX6900 (SPX) have seen significant price increases following their recent listing on the Kraken exchange. Kraken, one of the largest cryptocurrency exchanges in the United States, added these tokens to its platform on December 11, 2024. The listing has brought newfound attention to these meme coins, with their prices surging amid broader market gains.

Kraken’s move to list FWOG, GOAT, and SPX marks a growing trend of meme coins being adopted by major exchanges. This development also signals increasing mainstream interest in Solana-based tokens. As more exchanges add meme coins to their offerings, many crypto enthusiasts view these listings as a bullish signal for the broader market.

Kraken’s Addition of FWOG, GOAT, and SPX

The Kraken exchange announced that it would begin supporting spot trading for FWOG, GOAT, and SPX on December 11. These tokens join a growing list of meme coins available on the platform, expanding Kraken’s cryptocurrency offerings. The exchange had previously included FWOG, GOAT, and SPX in its listing roadmap, with the goal of enabling users to trade these tokens.

FWOG and GOAT are native to the Solana blockchain, while SPX is another meme token also now available for trading on Kraken.

As of press time, GOAT has seen a 24.25% increase in value, FWOG is up by 12.95%, and SPX has risen by 7.81%. The price surges of these coins are likely tied to the Kraken listing, although a market-wide rise in meme coins may have contributed to these gains as well.

Meme Coin Surge Driven by Broader Market Trends

The price increases of FWOG, GOAT, and SPX align with a general rise in meme coin values across the market. Meme coins like PEPE, Dogwifhat, and Floki have experienced similar growth as major exchanges have added them to their listings.

While the Kraken listing might have sparked some of the recent price increases, broader market trends in the meme coin sector likely played a significant role in driving these tokens’ values higher.

Concurrently, some analysts believe the surge in meme coin prices could be linked to increased attention on the market after U.S. political events, including the re-election of former President Donald Trump. This event has been credited with encouraging the wider adoption of digital assets in the U.S. market.

However, users in several countries, including the Netherlands (NL), Spain (ES), Ireland (IE), Belgium (BE), Italy (IT), and Germany (DE), are currently unable to access these tokens on the Kraken platform.

Market Sentiment Around Meme Coins

Subsequently, Kraken’s listing of these Solana-based tokens follows similar actions by other major platforms like Coinbase. Recently, Coinbase also added tokens such as Peanut the Squirrel (PNUT) and MOG COIN, both of which are part of the growing meme coin trend. Despite the price rallies, some in the cryptocurrency industry remain cautious about the growing popularity of meme coins.

Binance CEO Changpeng Zhao (CZ) has voiced concerns about the proliferation of meme coins, urging a focus on developing practical blockchain applications instead of pursuing purely speculative tokens.

In an X post, CZ stated, “Let’s build real applications using blockchain,” while acknowledging that meme coins are becoming increasingly unpredictable.