26 min to read.
What is Floki Inu
What does Floki Inu actually do? Is Floki a good investment? What is Floki crypto used for? Shiba vs Floki
Table of Content
- Buy Floki Inu Coin (FLOKI): fees, forecast and price
- What is Floki Inu?
- An overview of the Floki Inu Coin
- How does the Floki Inu Coin work?
- The most important information about Floki Inu in a nutshell
- How many Floki Coins are in circulation?
- How much does it cost to purchase Floki Inu?
- Floki Inu vs. Baby Doge vs. Shiba Inu vs. Dogecoin
- Floki Inu
- Baby Doge
- Shiba Inu
- Floki Inu Coin features
- Blackout Tuesday
- Previous Floki Inu Price History & Tokenomics
- The Floki Inu coin has been predicted to be a safe investment.
- The best time to purchase Floki Inu
- Buy Floki Inu – investment or speculative object?
- Floki Inu advantages and disadvantages
Buy Floki Inu Coin (FLOKI): fees, forecast and price
Pets are loved by some, but Elon Musk transforms them into cryptocurrency. Floki Inu, named after Elon Musk's new pet Floki, is the latest memecoin. Most people are aware of Elon Musk's promotion of Dogecoin earlier this year. As a result of his frequent tweets and statements, the cryptocurrency skyrocketed.
Due to the possibility of incredibly high returns, more and more investors are investing in memecoins and buying cryptocurrencies such as Baby Doge, Dogecoin, and Floki Inu. The question is, however, is Floki Inu a good investment opportunity, or is it simply another insignificant memecoin? That is exactly the question we wish to explore in this article.
A new crypto coin birthed by fans & members of the Shiba community, Floki (FLOKI) is inspired by #DogeFather Elon Musk’s very own Shiba.
What is Floki Inu?
In June, Elon Musk, the Tesla CEO, revealed he would be getting a Shiba Inu dog (the face of Dogecoin) as a pet. Elon Musk shared a picture of Floki in September and immediately sent Dogecoin on a rally.
All linked or inspired memecoins, such as Baby Doge and Shiba Inu, benefited from this. Floki Inu, however, is the big winner with massive returns for its investors. Interestingly, the coin was not even created until a few months ago. On the website of Floki Inu heit it:
- Floki Inu is a community-owned cryptocurrency inspired by Elon Musk! The Floki Inu (FLOKI) is a new cryptocurrency created by fans and members of the Shiba Inu community and inspired by #DogeFather Elon Musk's own Shiba Inu.
Like Shiba Inu and Baby Doge, Floki Inu is similar in many aspects to the "Shiba Inu" Coin. A Shiba Inu's name stands out as the first thing that stands out. The same goes for Baby Doge and Dogecoin. Names were probably chosen to attract attention. Floki is developing three flagship utility projects: an NFT game metaverse called Valhalla, an NFT and merchandise marketplace called FlokiPlaces, and a content/education platform called Floki University. In order to kick-start the next crypto revolution, FLOKI hopes to become one of the top 10 crypto projects.
Another unique feature of the Floki Inu Coin is that it is a "hyperdeflationary token" that rewards holders for holding it. FLOKI levies a redistributive tax of 8% on all purchases and sales. The FLOKI redistribution tax is split equally between the marketing wallet and all FLOKI holders: 4% goes to the marketing wallet and 4% goes to the holders.
An overview of the Floki Inu Coin
- Floki Inu has a market capitalization of 491,170,262 euros.
- The total supply of Floki Inu tokens is 10,000,000,000,000.
- As of today, 9,413,532,240,975 Floki Inu tokens are still in circulation and more are being burned.
- At present, Floki Inu has a 24-hour trading volume of 7,120,191 euros
- As a memecoin, Floki Inu Coin is primarily suitable for risk-taking investors
How does the Floki Inu Coin work?
The Floki Inu token is one of a number of meme cryptocurrencies. Floki Inu is trying to create an incentive for holders of the token to hold on to it by imposing a "redistribution tax." Every time FLOKI is traded, there is an 8% transaction fee. In turn, this redistribution tax is redistributed to the marketing wallet and other owners of Floki Inu.
As a result, whenever you send Floki Inu, you automatically lose 8%, which means that it is not recommended for everyday use as a currency. Floki Inu holders receive a percentage of the fees associated with each transaction in the network. In memecoins, the redistribution tax is also a popular trend.
The following are a few more cryptocurrencies that also utilize this Tokeneconomic:
- Baby Doge
Though this feature initially appears to be very appealing, it is ultimately a marketing gimmick that is primarily intended to entice investors to hold on to Floki Inu. As an investor, you should keep in mind that the above-mentioned crypto currencies experienced large losses soon after their initial successes and that the redistribution tax could not prevent this from happening. As of now, this tactic seems to work only for short-term success of crypto currencies, but it cannot be relied upon for long-term success.
The most important information about Floki Inu in a nutshell
- You may consider the Floki Inu token as a new coin.
- Floki Inu is similar to other memecoins such as Shiba Inu and Baby Doge
- The developers of Floki Inu have partnered with Elon Musk's brother - Kimbal Musk - in order to address food insecurity caused by the "Million Gardens movement."
- On Floki's website, it is clear that the cryptocurrency is seen as a "movement" and not as a "memecoin".
- There are 10,000,000,000,000 tokens in Floki Inu, and the team at Floki Inu regularly burns (destructions) tokens.
- Each transaction from Floki Inu carries an 8% fee.
- The 8% tax is a redistributive tax, half of which is distributed to holders of Floki Inu.
- In order to combat food insecurity, Floki Inu has as one of its missions.
- To date, Floki Inu can only be purchased from a small number of cryptocurrency exchanges, such as PancakeSwap, and not yet from any of the large cryptocurrency exchanges.
- In principle, the purchase of Floki Inu is a game of chance. Therefore, the purchase should be approached with extreme caution. As an example, the probability of losing money when investing in Floki Inu is above average.
How many Floki Coins are in circulation?
As of 17.10.2021, Floki Inu had a relatively low 24-hour trading volume of 7,120,191 euros. Floki Inu currently has a CoinMarketCap ranking of 2734. Inu started with a total of 10,000,000,000,000 tokens that are regularly burned. There are currently approximately 9,413,532,240,975 Floki Inu tokens in circulation.
How much does it cost to purchase Floki Inu?
You will have to pay different amounts according to which provider you select for Floki Inu. For the purchase or sale of cryptocurrencies such as Floki Inu, providers typically charge either a commission or a spread. The spread is the difference between the purchase and sale price.
Currently, FLOKI tokens can be purchased in a limited number of ways. Floki Inu can currently be bought on the independent "PancakeSwap" exchange, which is considered to be one of the best options for investors. We recommend, however, that you purchase cryptocurrencies from a regulated and licensed provider such as eToro.
We would like to illustrate the costs of investing in Floki Inu with the following example:
- An investor deposits €1,000 into a custody account
- and uses the entire sum to purchase FLOKI tokens.
- Floki Inu tokens will be held for five days and then sold again.
- Investors will then transfer their funds back to their bank accounts.
- In this example, Floki Inu is purchased and sold at the same price.
Floki Inu vs. Baby Doge vs. Shiba Inu vs. Dogecoin
Memecoins, particularly those with dog motifs, such as Floki Inu, have gone up in value in recent years. There are several reasons for this. Notable examples include the meme culture, the popularity of cryptocurrencies such as Dogecoin, and Elon Musk's Twitter feed. Nevertheless, many investors are now wondering, can there even be a difference between the individual memecoins?
"Dogecoin" is the original meme cryptocurrency, "Shiba Inu" is the self-proclaimed Dogecoin killer, "Baby Doge" is adorable, and now, "Floki Inu" is gaining popularity.
As a descendant of "Shiba Inu", Floki Inu is one of the newest memecoins. Floki Inu describes himself as a "movement" that emerged from a tweet. Floki Inu came on the market when Elon Musk tweeted that he would buy a Shiba Inu and call it Floki.
A few minutes after Elon Musk tweeted that he had purchased a Shiba Inu and named it Floki, the price of FLOKI rose by over 100%. In spite of this, the incoming parabolic growth was only the beginning. Elon Musk now owns a Shiba Inu puppy, which he named Floki and will continue to tweet about. Each tweet serves as a small promotion for the token.
In response to this development, Floki Inu has intensified its marketing efforts. Gate.io, one of the top ten stock exchanges according to Coinmarketcap.com, has listed Floki Inu in anticipation of this marketing boost. During the rise to a multi-billion dollar market cap, Gate.io contributed to a daily trading volume of $1,000,000,000 for SHIB.
Floki Inu will also light up New York's Time Square sky with a billboard from September to December. A Floki Inu attack can be found in nearly every major city, including London, Miami, Los Angeles, Dubai, and many others.
Additionally, Floki Inu will play a prominent role at the Miami Crypto Conference in November, in addition to its marketing campaigns. The conference is scheduled to take place from November 10-12 in Miami. In addition, it will participate in the conference's panel discussions and workshops.
Baby Doge is also a memecoin, but it has a rather imaginative website and its developers are certainly not taking themselves too seriously. The Baby Doge developers state on the official website that the Baby Doge cryptocurrency was developed by the Dogecoin community as a descendant of the original Dogecoin.
The website emphasizes playfulness and states, among other things, that "Baby Doge is trying to impress his father [Dogecoin] by demonstrating his improved transaction speed and kindness."
The Baby Doge and Floki cryptocurrency are not used as currencies and offer holders an incentive to hold them rather than sell them. The Baby Doge cryptocurrency is also one of the so-called hyperinflationary cryptocurrencies, as is Floki Inu. As a result, Baby Doge will become increasingly scarce over time.
Baby Doge's team is continually burning coins. Every time a transaction is made on the Baby Doge network, Baby Doge owners will receive a fee. This fee is 10%, with 5% going to holders. The remaining 5% is retained to ensure the liquidity of the network.
According to the white paper, high transaction speeds represent one of the biggest advantages of Baby Doge for investors. Unfortunately, this is in conflict with the redistribution fee. The Baby Doge team therefore focuses more on increasing the value of the Baby Doge cryptocurrency through a six-part roadmap. A maximum of 420 quadrillion Baby Doge tokens are available under Baby Doge's offer. A large number of these tokens have already been burned and are therefore no longer in existence.
Dogecoin is considered to be the father of all memecoins and the original meme cryptocurrency. Two software engineers developed Dogecoin as a joke. Despite its origins as a joke, Dogecoin has developed into a fully-fledged and highly functional cryptocurrency that is regularly found among the top 10 cryptocurrencies. Dogecoin briefly surpassed $31 billion in market capitalization as the fifth largest cryptocurrency on August 10, 2021.
In addition to Elon Musk's many tweets supporting Dogecoin, Dogecoin is so well-known and so popular today as a result of his many tweets. As a result, some Dogecoin fans refer to Elon Musk as the "dog father". Elon Musk is not the only billionaire who supports Dogecoin. Mark Cuban, the billionaire entrepreneur and "Shark Tank" investor, has stated that dogecoin is the "strongest cryptocurrency" in his opinion.
Dogecoin was derived from the Bitcoin fork "Litecoin". Therefore, Dogecoin uses the same consensus mechanism as Litecoin. The supply of dogecoin is not limited like that of Litecoin, Bitcoin, and many other memecoins. New blocks of Dogecoin are created every minute. The Dogecoin miners receive 10,000 new DOGE tokens for each Dogecoin block. Therefore, more than 14 million new Dogecoins are created each day.
The Shiba Inu was originally created as a "mascot" for Dogecoin and is regarded as the "father" of the Floki Inu. Currently, the Shiba Inu cryptocurrency is a well-known and popular meme cryptocurrency on the Ethereum blockchain. As with other Memecoins, Shiba Inu also launched with a huge circulation (1 quadrillion tokens).
Furthermore, Shiba Inu has a similar low price per token to both Baby Doge and Floki Inu. As a result, Shiba Inu is now seeking to become an alternative cryptocurrency to Dogecoin based on Ethereum. Nonetheless, Shiba Inu offers many unique selling points, including a NFT art incubator and other projects, including a decentralized exchange known as Shibaswap.
Shiba Inu can perform some viable functions overall, which is why many investors and crypto experts believe the cryptocurrency will have greater success than Baby Doge, Floki Inu, and Dogecoin in the future. Yet Shiba Inu is also extremely speculative, and even with this cryptocurrency, a single tweet can result in substantial price movements.
An independent audit of the ShibaSwap Exchange, however, indicates reason to be cautious about Shiba Inu. An independent audit found significant risks associated with the Shibaswap Exchange, for example, a single developer had the authority to "send all existing ERC20 bone tokens to any address.".
According to the developer, this problem should have been resolved by now. Nevertheless, since the ShibaSwap Exchange has not been re-audited since then, it is impossible to determine whether the team has maintained these changes.
Floki Inu Coin features
According to a recent announcement by Floki Inu, the Million Gardens Movement, an initiative of Kimbal Musk, aims to "give back to the community the power to select, grow, prepare and consume healthy foods.".
Just a month after announcing this partnership, Floki Inu has pledged to donate $1.4 million following a successful fundraising effort. For this purpose, it has developed its own brand of non-fungible token avatars called Flokitars. A public release of 10,000 Flokitars was undertaken by Floki Inu on September 18, 2021. According to the statement, proceeds from the sale of these flokitars will go toward the Million Gardens movement.
It took Floki Inu approximately 35 minutes to raise over $1.4 million and his flokitars were completely sold out. In keeping with our promise, all of these funds will be donated directly to the Million Gardens project to help them realize their goals and restore power to their communities.
Mr. Musk was immediately touched by the generosity of this organization. Tesla Inc. CEO Elon Musk expressed his appreciation for Floki Inu's donation in a tweet, noting that it would "help so many children, teachers, and families learn gardening at home and in school.".
Blackout Tuesday is an initiative that Floki Inu leads as part of his mission to be a light in the world. His message is simple: "We are Floki." This simple sentence means that anyone can be a part of the movement that is Floki Inu.
The movement Floki Inu is at its core a movement. The organization strives to give community members control over their own finances by empowering them. Inu was inspired by a meme - Elon Musk's dog - and aims to become a dominant force in the cryptocurrency market. Floki Inu welcomes everyone to join this initiative.
A majority of Floki Inu's partners will post the message "We are Floki" on social media during Blackout Tuesday. Floki Inu wishes to bring the individuals of the world together for an instant in order to promote a common movement to accept everyone for what they are.
Previous Floki Inu Price History & Tokenomics
With a large supply of maximum tokens, Floki Inu is likely to have a low price per coin, similar to other memecoins. There were 10 billion,000,000 tokens at the time of Floki Inu's launch. This number, however, is regularly destroyed and burned by the developers. As Floki Inu is only worth a fraction of a cent, it is difficult to track the price of this cryptocurrency.
An analysis of the previous ups and downs of the Floki Inu price since its inception demonstrates how difficult it is to understand price changes. According to CoinGecko, the following data is available:
- Floki Inu opened at 0.0000034 Euro on 10.07.2021 at the earliest recorded time.
- Floki Inu hit an all-time high of 0.00006988 euros during the same time period.
- At its lowest point, it reached 0.00000001724 euros.
- (On 17.10.21) the price is 0.00005244 euros, which is 25.86% below the all-time high and 300363.51% above the all-time low.
The Floki Inu coin has been predicted to be a safe investment.
Answering this question clearly with "no" is necessary. Floki Inu Coins are not safe investments. The decision to buy the Floki Inu cryptocurrency should not be rushed. There is no value or benefit within the crypto ecosystem for floki inu, a relatively new and volatile cryptocurrency. In light of this, it is likely that FLOKI tokens will result in a loss of money.
Floki Inu is a cryptocurrency you may be considering purchasing because you have heard on Reddit or in a YouTube video that it will "explode", but you might want to reconsider. It is recommended that you review the Floki Inu website and white paper first. Particularly with memecoins and new cryptocurrencies, it is important to do your own research before blindly relying on other investors, especially since Floki Inu's team spends a lot of money on marketing.
You should also be cautious when investing in Floki Inu. A number of memecoins are very volatile, such as Floki Inu, which initially rises extremely and then quickly falls into oblivion. Many investors make the mistake of purchasing hyped cryptocurrencies near the all-time high, only to watch their investment drop in value every day.
If you wish to use a facility in Floki Inu, you should treat it as if you were playing the lottery. Therefore, you should invest only a very small amount of money into Floki Inu, without even hoping to earn something from it in the future. However, you may be lucky enough to win the grand prize. The more likely scenario is that you have a "rivet".
The best time to purchase Floki Inu
In addition to discussing investment timing, Floki Inu also discusses the best time to invest. Investors should be aware that it is impossible to predict the optimal time to make a financial investment (especially with volatile investments). However, there are a few tips you should keep in mind when deciding when to buy Floki Inu.
- The best time to buy Floki Inu is determined by understanding how volatile the cryptocurrency is.
- A price fluctuation of more than 10% is extremely rare for traditional financial instruments. On the other hand, this is a common occurrence with cryptocurrencies such as Floki Inu.
- Rather than looking for the best time to invest in Floki Inu, it is usually wiser to avoid making a purchase at a bad time.
- When trading volatile financial instruments, it is necessary to deal with the emotions first
Trading volatile assets is associated with very strong emotions. These make it difficult to determine a good investment time. Very often, emotional phenomena such as FOMO (Fear of Missing Out) and panic can lead to acting far too impulsively and / or thoughtlessly.
- FOMO: FOMO means Fear of Missing Out. For Floki Inu, for example, this would be the fear of missing an explosive price increase, leading to a high return. When investing in volatile financial instruments, FOMO frequently prevails. It kicks in once the asset appreciates excessively quickly. Currently, investors are concerned that they will miss out on the current price surge and big profits. As a result, ill-considered actions are taken and impulsive purchases are made. Sadly, this often results in an inopportune time.
- Panic: Panic behaves similarly to FOMO, but starts when you have already invested in an asset and the price suddenly and unexpectedly drops significantly. In these circumstances, many investors sell their investments to minimize further losses. Nevertheless, if the investment thesis has not changed, then this can be a fatal error. Even panic may result in the sale of assets at a time when they are unfavorable, such as near the low point.
Buy Floki Inu – investment or speculative object?
Floki Inu is an obscure crypto that is similar to other similar projects. The aim of Floki Inu is to become an alternative to other popular memecoins. In contrast to other cryptocurrencies, which are designed to be as scarce as possible, Floki Inu is intended to be as abundant as possible. As a result, the Floki Inu price is very affordable.
However, before investing in Floki Inu, it is crucial that you carefully consider what you hope to achieve with this investment and whether that goal can realistically be met with this investment. A simple principle governs investment: the higher and faster the potential profit, the greater the risk.
Floki Inu, although it considers itself a "movement", is primarily a memecoin that has only gained a small reputation through its meme status. There are now a number of other memecoins. As a result, Floki Inu is best viewed as a speculative object and should be treated as a lottery ticket. It is unlikely that a small investment will yield extremely high profits, but it is also much more likely that it will result in a loss and a bear market.
Floki Inu advantages and disadvantages
The Floki Inu Coin is extremely affordable. However, why does it matter? The key factor is the market capitalization. However, the price of a cryptocurrency is also psychologically important. Due to the low price of Floki Inu Coin, many investors believe that it is easier for it to double its value. In fact, Floki Inu's value is more likely to increase than that of Bitcoin or Ethereum. Nevertheless, this is not because of the low price, but because of the low trading volume and market capitalization.
To double or even triple its value, Floki Inu requires minimal investor interest. Due to the favorable costs of Floki Inu, there is a likelihood that prices will increase in the short term.
In addition to being a memecoin, Floki Inu is also significantly more widely covered in news outlets than comparable technically oriented crypto currencies. An investment in Floki Inu is likely to succeed in the future due to the huge popularity and popularity of memecoins. A high budget is set aside for marketing expenses by Folki Inu as a result of its redistribution tax, half of which goes to marketing.
For the reasons noted above, Floki Inu is an excellent vehicle for short-term profits and crypto speculation. The Floki Inu market is particularly attractive for crypto day traders due to its high volatility, low trading volume, and small market capitalization. In order to achieve large profits within a very short period of time, day traders benefit from strong percentage fluctuations. So, Floki Inu can increase by 20% within an hour, then increase by another 30%, before suddenly collapsing again by 50% within the next hour.
Floki Inu advantages
- Floki Inu is very cheap
- There is always a chance of very high winnings with Floki Inu because it is a memecoin
- memecoin. Floki Inu is often an optimal investment for short-term gains
Floki Inu disadvantages
- Floki Inu has a high volatility
- Floki Inu is not a first-mover among memecoins
- Floki Inu brings little substance to the crypto market and doesn't offer any innovations
- Floki Inu has a relatively low trading volume
As a meme-inspired cryptocurrency, the Floki Inu Coin is a relatively new and unknown cryptocurrency. Most people probably think first of "Dogecoin" when they hear the term memecoins.
Floki Inu is definitely not a good investment from a traditional standpoint. Floki Inu does not stand out from other cryptocurrencies in much of a way.
As a cryptocurrency, FLOKI INU is also relatively simple, and the coin doesn't have its own infrastructure, which means it adds little or no substance to the crypto financial space. To serve as a "transaction currency", Floki Inu serves primarily this purpose. However, its 8% transaction fee makes it unsuitable for this purpose as well.
Due to these factors, it can be presumed that Floki Inu will find it difficult to penetrate the saturated crypto market successfully over the long term. This could potentially lead to more investors avoiding Floki Inu in the future, resulting in an even greater decline in liquidity.a
Can floki inu hit 1 dollar?
In order for Floki Inu to reach one cent, its market capitalization would need to surpass $100 billion. This is a significant amount of capital, and given FLOKI's use cases, it's extremely unlikely that the token will reach even 1 cent.
What is Floki Inu used for?
Floki is a practical tool for real-world applications. With the help of its partnership with CryptoCart (CC), the cryptocurrency coin can be used to purchase items from offline stores. The XCUR platform allows FLOKI holders to purchase goods as well.
How to buy Floki
How to buy floki
Estimated Total Time
What is necessary:
Tool: A cryptocurrency market.
Compare Cryptocurrency Markets
Sıgn up an exchange that offers Bitcoin in your preferred pairing. Compare exchanges when buying Bitcoin to find the lowest fees and the latest exchange rates. Note: Some exchanges require your full name, ID, and contact info before you can trade.
Create an account
Be sure to have your ID and phone ready before you set up an account with an exchange.
In order to purchase bitcoins, you can use dollars, euros, pounds, or any other currencies you prefer, provided your exchange supports bitcoin. Some exchanges charge commission fees based on the amount of floki you purchase, so be aware of fees before making a purchase. Credit card payments are usually the most expensive method of payment.
Go to your chosen exchange's market section, then click the buy floki button and enter the amount of the paired cryptocurrency you wish to spend, or the amount of floki you wish to purchase. Note: Before completing the transaction, carefully review the transaction details, including the amount of floki you purchased and the total cost of your trade.
Where to buy Floki