After the Dogecoin wave, other such tokens entered the crypto market. Coins like Shiba Inu achieved a degree of success. Yet, one should remember that the main supporter, Tesla CEO, Elon Musk, was the driving force behind the success of these coins. This is observable by the number of tweets that Musk had tweeted supporting these coins. In September 2021, Elon Musk tweeted a picture of his pet called ‘Shiba Inu’ on Twitter with the caption ‘Floki has arrived’. This article is all about the Floki Inu and can Floki Inu price reach $1?. Let’s take a look.
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What is Floki Inu?
After Elon Musk’s tweet, The ‘Floki Inu’ price increased by almost 1,000% just in two days and increased again by almost 1,500% in just 72 hours since launch. Floki is the same species as Musk’s favorite currency — Dogecoin.
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Floki Inu (FLOKI) describes itself as “a movement.” FLOKI strives to be the most popular and most utilized cryptocurrency in the world. By incorporating the strength of memes with actual utility and charitability, FLOKI provides power and potential to the people — to the underdogs — rather than venture capitalists and hedge funds.
FLOKI is cross-chain and open on both the Ethereum and the Binance Smart Chain. It has a maximum supply of 10 trillion and the circulating supply is 9,027,519,791,287.58 $FLOKI tokens. There is a 3% taxation on every purchase and trade.
According to its website, the 3% tax belongs to the FLOKI treasury which is utilized for the growth of the FLOKI project, collaborations, charitable endeavors, and awareness about FLOKI while guaranteeing the adoption of the FLOKI”s utility products when they go live.
The Floki Ecosystem is a community-backed ecosystem that strives to provide governance of their finances to the people via four fundamental utility offerings:
- The Valhalla NFT Metaverse Game
- The Floki University Crypto Education platform.
- DeFi
- The FlokiPlaces NFT & Merchandise Marketplace
The NFT gaming metaverse called Valhalla is the backbone of the ecosystem. Floki Inu expects it to be a play-to-earn gaming metaverse. In this, users can get prizes for battling and trade-offs or carry on to assets acquired in the metaverse. The team intends to take prosperous features from games like Pokémon and Skyrim and include them in Valhalla.
Players will be capable to seize and battle with creatures named Vera, and the game will also have a gardening method where players can grow their yields, which can later be traded as NFTs. With Valhalla, Floki Inu attempts to pursue the path developed by games like Axie Infinity (AXS).
Floki Inu Price Prediction: Can Floki Inu Reach $1?
FLOKI/USDT Weekly chart – GoCharting
The Floki Inu token is extremely volatile. It encounters a huge amount of price shifts in the short term. One explanation for why this occurs is that the market capitalization of the token is extremely short. At the moment, Floki is still smaller corresponding to Dogecoin and Shiba Inu. At the time of writing this, the FLOKI price is sitting at $0.0000082. In the last seven days, the FLOKI price has decreased by almost -17%.
People who invested early in the coins Dogecoin or Shiba Inu unexpectedly became wealthy over a short period during the excessive price gains of these coins. But these cryptocurrencies are risky because they are too volatile.
The Floki Inu has been drawing alerts. In the current revision, meme coins are presently very affordable to purchase. So far, the Floki Inu can only be bought on decentralized stock exchanges.
On its takeoff day in July 2021, FLOKI’s price was $0.00000361, and did not notice much activity. It not long after dropped, influenced by the aftermath of the crash in May month. Floki recovered in the following months. In July it was almost $0.00000594 – displaying a growth of just over 100% in two days.
Despite various strategic alliances and true-work utility chances, Floki ‘s price is much based on advertising, making it a wildly risky investment. The revocation of promotions on the Burj Khalifa has sent the coin down, dropping more than 10% in a day. Now, the question is will it ever reach $1?. The answer to this question is not so straightforward. The price of Floki Inu did have a tremendous rise after an extremely successful marketing drive that indicates Elon Musk is interested in the token. However, given Musk is not really related to the token, Floki is doubtful to benefit from the ‘Musk tweet consequence’ we’ve noticed with DOGE and Shiba Inu token.
How To Buy The Floki Inu Token?
As the FLOKI is pretty unexplored, most crypto exchanges have not listed it on their platforms. Below is a secure and safe method to purchase the Floki Inu token.
Transfer Ethereum To The Wallet
To buy the token, users should first purchase Ethereum and transfer it to their wallet. This is because most crypto exchanges have not listed the token. Yet, users can buy it from a decentralized exchange. The DEX like Pancakeswap and Uniswap both support swapping to FLOKI.
Conclusion
Floki has been gaining attention and building powerful brand equity. Yet, cryptocurrencies, such as Floki Inu, are volatile, which pushes them to a risky zone. It had displayed good performance in the past but past performance never ensures forthcoming results.
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