Ground Report | New Delhi: What is Floki; The meme-cryptocurrency based on the name of Elon Musk’s new pet Floki is in the news. A new crypto token based on Musk’s new pet, named Floki Inu, became the ‘pet’ of global meme token lovers, as it grew by nearly 1,500 percent in just three months since its inception.
Floki Inu is now priced at $0.0000731, with a trading volume of just over $16 million. This means you can get a total of 100,000 coins for just $7.7. According to Coingecko.com, cryptocurrencies rose by 24 percent in just 24 hours on 18 October.
However, given the extremely affordable price, the price increase does not represent a significant advantage. Meme Coin, on the other hand, has risen 1,200 percent in the past two and a half months from August 1 to October 15. On August 1, it rose from $0.00005 to $0.00065 per piece. On October 15, it rose to $0.000065 per piece. In just two-and-a-half months, it grew by over 1,200 percent. According to data from Coincodex, an investment of $500 on August 1 will increase to $600,000 by October 15.
What is Floki?
Meme coin is a cryptocurrency that is associated with a certain topic. Dogecoin, named after a popular dog, was the first meme currency. The Shiba Inu and the Floki Inu are two additional meme coins.
Meme coins are a very volatile cryptocurrency, despite the fact that there doesn’t seem to be a compelling explanation for this incredible growth.
Experts are trying to figure out why these meme coins have become so popular. The existence of a strong community behind these currencies is one of the reasons for their proliferation. Another factor is that these coins are backed by powerful personality denominations. For example, Elon Musk has lent his support behind the Floki Inu in a series of tweets.
The Crypto Project has partnered with Musk’s brother, Kimbal Musk, through the Million Gardens movement.
Floki Inu” is also working on an NFT gaming metaverse known as Valhalla, an NFT and merchandise marketplace known as FlokiPlace, and a content/education platform known as Floki University.
Recent Surge In Popularity
According to a website theflokiinu.com, this crypto coin has been created by fans and members of the Shiba Inu community and is inspired by the Shiba Inu of Doge father Elon Musk.
Floki Inu is the only crypto project officially partnered with Elon’s brother Kimbal Musk’s ‘Million Garden Movement’ to work to give back the power to the community to choose, grow, prepare and eat healthy food.
On the Floki roadmap is an “NFT gaming metaverse” that the team calls Valhalla. NFTs have caught on like wildfire among crypto investors and artists. Capturing the tailwind from the excitement of both Mem coins and NFTs is a strategic move that could pay off for the project and its investors.
The Floki Inu team is also building an NFT and merchandise marketplace they call FlokiPlace. To this end, they want to strengthen the use case of Mem Coins as a payment method. So far, they have partnered with CryptoCart and XCUR, a partnership that gives FLOKI holders the ability to shop at 1,700 merchants.
Where to buy Floki?
- FLOKI COIN is available for trading on a limited number of exchanges.
- Investors need to sign-up with any trusted wallet, such as UniSwap
- Buy a substantial amount of cryptocurrencies such as ETH or BTC using fiat currency
- Go to exchanges like Pancake Swap and use the contract address 0x47e10659f54fb21e7e3e0ef387ab6872fb46316b
- Find FLOKI tokens from the list and select the amount you want to buy
- Swap BTC or ETH for FLOKI tokens
- Store the token in your trusted digital wallet