ValteFri, Sep 17, 2021 7:35 PM
Defying Gravity: Floki Inu Price, Analysis & Review of Meme Token
Floki Inu token, inspired by the success of Doge, is a new community-driven hyper-deflationary meme coin, birthed by the members of the Dogecoin online community. Support from Elon Musk itself and huge interest from the community affected Floki Inu's price from the first days, starting sending it to the moon. On the third day of existence, the coin reached Top-8 tokens that grew in the last 24 hours on Coinmarketcap.
Compared to its “meme father”, the new token has improved transaction speed as well as an integrated staking system to reward the holders. It is designed to become more scarce over time as the holders automatically receive a 5% fee from every transaction.
The token appeared after Elon Musk mentioned that he would name his own Shiba Inu pup Floki. On the 13th of September, the CEO of Tesla tweeted a picture of the puppy saying “Floki has arrived” and that was the second beginning of the meme project.
The Story of Floki Inu Price and Development
At first, Floki Inu appeared in June right after Mr. Musk mentioned the future name for his pup and gained quite a wide popularity, but the community members got to know that developers keep minting new tokens and also taking 20% transaction tax instead of taking 5% of fees for the development. The community confronted the team and made them create a hard fork, basically a brand-new token that would really follow the principles of a “fairly driven and fun community project”.
Unluckily right after the fork one of the original developers managed to rug pull about 2600 ETH worth about $5 million. After the revival of the token, another developer called Marvin rug pulled the assets worth $550, almost the exact amount of funds the community contributed to saving the project.
The new Ethereum contract was created and holders got a chance to migrate their holdings. In the end, the team decided to compensate the holders by arranging an airdrop and the Floki Shiba Inu price started to recover though it still didn’t reach its All-time high of $0.00001412 on July 1. After all, the team and the community (having over 42000 Telegram community members, and around 60 000 holders) were not ready to let the project die and that’s how it attracted the attention of major media such as Forbes, Yahoo Finance, Tech Times, etc. that renewed the optimism about the token’s future.
The token’s supply is limited to 9.24T of $Floki across both BSC and ETH chains. And ETH and BSC Bridges are 685,5T and 5,016T respectively. 1,429 T on ETH and 3,486 on BSC are burned. The liquidity pole is 69T on Ethereum and 68T on BSC and also it is locked for 420 years to grant the users security. The combined market cap at the moment of publishing overreached $603 million.
In the last version of Floki Inu, 2% of all the transaction fees are redistributed to the holders, the part of the funds are used for the automatic buyback, and a small part of the coins being burnt, which positively affects Floki Inu price. There is also a 3% tax channeled to a completely transparent multistage wallet. The new token has been audited and certified by Solidity. The full report is available on the official Floki Inu website.
The token can be bought on PancakeSwap and Uniswap with an 8%-10% slippage.
The Road to The Moon
The project wants to stand out from the other meme-tokens inspired by Elon Musk and be the one with the real utility. Though it already proved its determination to stay as the huge community expressed high-level loyalty to the already twice rug pulled project.
Thanks to the media attention the project got really wide fame and it caused the increase of the holders and growing the community excited by the use-cases of Floki Inu. Right now the project fully completed Phase 1 and smoothly moving through Phase 2, including:
- aggressive marketing rollout;
- charity donations;
- solid partnerships;
- user rewards program.
So far the coin and Floki Shiba Inu price have been stable thanks to the steady work made by the development team. Recently Floki Inu formed a strategic partnership with ICO Pantera, South Korea’s leading growth accelerator to make the expansion to the Korean market easier and more smooth.
Just before that Floki Inu’s utility project was launched. It’s an on-chain NFT Gaming Metaverse that allows users to get paid for playing. The users are able to create the unique game character (an ERC 721) get rewards for battling in the crypto Vikings world, but also whatever they obtain belongs to the players and can be sold, gifted, auctioned, destroyed, etc. The platform is currently under development and new features and options keep appearing. The main goal of the platform is to bring mainstream and blockchain games together in one metaverse.
Thanks to the partnership with Curate and Crypto Cart the token can be used to purchase real-life items that will definitely affect the massive adoption of the project. For stage 3 the team is planning to organize real-world events, list the token on major platforms, and reach 100k holders.
Floki Inu price prediction
As per the time of publishing the Floki Shiba Inu price is $0.00006788, but if we look at the Floki Inu Price chart it becomes clear that the coin’s price surged lately and has been rising since things got kinda stable. If the project continues the development race it has been articulating for the last few weeks the price raise can become more or less predictable and promising investment. At the moment many analysts see a bright future for it.
Frequently Asked Questions About Floki Inu
Where to Read Floki Inu News?
CoinJoy aggregates all the most significant news from the crypto world. Hand-picked trusted media sources together with the tweets, telegram, and Reddit posts of the known personalities in the world of blockchain allow you to always stay aware of what is happening to the Floki Inu price.
What is the Floki Inu Price on CoinmarketCap?
At the moment of publishing the token’s price is $0.00006382, showing 24% rise in the last 24 h.
What is Floki Inu Bscscan Address?
The right FlokiShiba bscscan address is available, but the users should stay conscious about a lot of contrafact tokens pretending to be the only one and only Floki Inu token.
What is Floki Inu Contract Address?
The Contract address is published on the token’s Bscscan page.