A meme-inspired cryptocurrency like Dogecoin isn’t just a one-hit-wonder—it has the potential to be both popular and profitable. In 2022, some are dubbing Shiba Inu one of the cryptos to keep an eye on. Is it, however, a worthwhile investment?
Using the comedy of memes to help solve real-world problems is an intriguing concept and one that we hope to explore further in the future. However, the Floki Inu currency’s market capitalization and worth have grown rapidly even though it is still relatively new.
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A Brief History of Floki Inu
On the Ethereum blockchain, there is an ERC-20 token that is called Floki Inu. In honour of Elon Musk’s Shiba Inu dog, it’s been renamed. Although the whitepaper states that it’s a movement, not a meme, it’s still being referred to as such.
This is Floki Inu’s best performance since it was founded. The company’s market capitalization was $1.06 billion as of December 2021. For a cryptocurrency that hasn’t even been operational for a year, this is astounding.
Increasing Your Assets
Now is a good time to buy this coin at a discount. On Nov. 4, 2021, it reached a value of $0.0003359, which was its highest point to date. Since then, it has fluctuated in value both upwards and downwards, but it has not yet returned to its peak value.
The makers of Floki Inu have confirmed a maximum quantity of 10 trillion tokens, which makes the token supply appear to be enormous. Floki Inu’s creators, in contrast to Dogecoin and Shiba Inu, propose that the coin has real-world applications. Cryptocurrency may become a metaverse trailblazer in the same way that so many others have.
The Floki Inu Apps
There are three pillars or applications that Floki Inu claims to use, according to its whitepaper and website.
Valhalla, a play-to-earn NFT metaverse game being developed by the Floki Inu team, will use crypto as the primary currency.
NFT marketplace FlokiPlace plans to make use of the new cryptocurrency Floki, as many others have.
In the end, Floki Inu’s platform Floki University will assist in educating the public about cryptocurrencies and blockchain in general.
Some progress in utility projects has yet to be made, despite all of that. Despite this fact, people continue to purchase it.
Increasing Your Assets
Do you think that Floki Inu is a smart investment?
Floki Inu, despite its continuous performance in the final quarter of 2021, is still mostly a currency of speculation. The so-called real-world applications, such as metaverse games and the NFT marketplace, are still in the conceptual stages. However, if Dogecoin has taught us anything, it’s that this isn’t a major drawback.
SSC, a football club in Italy, has just teamed with Floki Inu to have their emblem displayed on the stadium and uniforms. The fact that it can be used at Shopping.io, in addition to the agreement with the NFL and other partnerships with Inverse Finance, makes the coin promising.
On the Coinbase Website, There’s a Petition to Get It Added
Floki Inu may be a good investment based on the interest and trust shown by the crypto community, even though its performance has yet to reach its full potential. Even if a token drops to $0.01, you’ll still make a tidy profit because it’s so cheap to purchase right now. If it happens at all, it could take a while to get there.
Whitepaper on Floki Inu
- The “Floki ecosystem is a community-powered ecosystem that strives to give people control of their finances through four major utility offers,” according to its 14-page whitepaper. These are the four options:
- The Metaverse Game of Valhalla in the NFT
Cryptocurrency education tool for the Floki University.
- Whitepaper: “FLOKI’s endeavour to solve the crypto education gap for the next billion people who will be discovering crypto in the future years – all while increasing awareness for the FLOKI token.” Floki University
- Tokens can be found on multiple blockchains. The FLOKI ecosystem may survive on each blockchain FLOKI’s unique strong features, according to the whitepaper.
Floki Is Now Available on the Following Platforms
- The Binance Smart Chain of Ethereum.
Elon Musk’s priceless tweet continues to work in its favour as well…
Loki’s story: The beginning
A meme coin’s initial price was quite low, as one would expect. To begin with, on July 10, 2021, it was valued at $0.00000361. Intraday highs of $0.00000463 were followed by lows of $0.0000031 the following day. There was little activity at all in the coin’s initial few weeks of existence. That this happened is a result of cryptography being relatively unknown, but it is also the result of the great crypto day crash on May 19th. Over the summer, cryptocurrency prices fell, so, understandably, a brand new coin would not see a big rise in price. Price predictions for floki inus may now be considered mediocre at best.
Unanticipated Price Increases
Toward the end of July, things got a little more intriguing. The FLOKI currency saw an increase in demand when the crypto market began to revive, as more individuals began to invest in crypto. This was seen in the price movement.
When the currency reached its intraday peak of $0.00000296 on 28 July 2021 and $0.00000594 on 30 July, it had doubled in value in just two days. When they started behaving in this way, people started paying attention.
The dog coin’s fortunes began to improve in August. A high of $0.00000776 was reached on the second day before closing at $0.00000728 on the third. It wasn’t a smooth ride from there, but by 3 August 2021, things had started to improve. After a long wait during which time the coin remained stuck at $0.000005 for most of the middle of the month, a zero was finally removed on August 29th, when it reached $0.00001304.
- The price of Floki inu went up, and then it went down.
- History of Floki’s price
- History of the Floki exchange rate
- However, there was more good news to follow. There was significant interest in both the coin and floki inu price predictions in September as more people got to part.
FLOKI’s initial price range was between $0.00001 and $0.00002, however, it grew steadily before making a sudden spike in value. A day later, it opened at $0.00001686 but ended the day at $0.00003663, an increase of more than 117%. The price went up over the next few days, hitting a high of $0.00007023 on September 16, 2021, as a result of this behaviour.
On the final days of the month, it closed at $0.00004942. FLOKI saw yet another round of expansion in October 2021. This month, unlike September, high-octane activity was abundant, whether it was advertising on the London Underground or something else entirely.
Floki Inu is a legitimate cryptocurrency that has suddenly risen in value, but it is simply one of many on the market. It has some potential, but its recent results haven’t been outstanding either. It is advisable to exercise caution if you choose to invest in Floki Inu. All investments should be spread out and not concentrated in a single location. Floki Inu might be the next great thing in cryptocurrency.
Jonathan Herrod is a content writer who enjoys writing about technology, video games, and other topics. The author of informative articles that are well-researched and written with attention to detail has been writing professionally for nearly three years and specializes in the creation of well-researched and written attention to detail articles.