Undoubtedly, Shiba Inu is one famous dog breed in the cryptocurrency world. After the Dogecoin and SHIB, there came a new meme-themed coin - FLOKI. It was inspired by Elon Musk’s dog, named Floki and is becoming more and more popular these days.
Surely, we can say that dog-coins were a trend within the crypto market in 2021. Of course, not every dog-inspired token made it to the spotlight, but some, like Shiba Inu (SHIB) and DOGE, managed to take the market.
However, earlier this year, another dog-themed crypto emerged. Floki Inu came out hoping to dethrone SHIB and DOGE and to become the most popular dog-inspired coin in the crypto market. As we already have mentioned, the new coin was inspired by Elon Musk’s puppy. The team who created it remains unknown, but we can easily guess that they are enthusiastic fans of the Shiba Inu community.
What is FLOKI?
Floki Inu is a copycat coin that runs on both the Ethereum blockchain and the Binance Smart Chain network. It aims to achieve its goals, using its community, known as “Floki Vikings”. As we know, a strong community can be a powerful asset for a successful project.
Musk’s announcement about his dog's name was made at the end of June, and by the middle of September, FLOKI was already trading in the market.
Within the first months of its existence, Floki Inu experienced a huge price increase. It was initially listed for millionths of a cent, and in September its price rose by more than 250,000%.
Floki Inu has a total supply of 10 trillion tokens and at the moment of writing (15th of December 2021) it has a market cap of $1.18 billion.
FLOKI vs. DOGE and SHIB
Floki Inu's aim, since it came out on the market, is to kill its predecessors—Dogecoin and Shiba Inu. Its goal is to become one of the top ten cryptocurrency projects and be a part of the next crypto revolution.
Actually, FLOKI is aiming to be much more than just another meme coin. According to FLOKI, the focus is on building utility and creating a useful platform with a strong community of holders who would also receive awards for staking the tokens.
FLOKI use cases
Let’s have a closer look at what Floki Inu has to offer.
Valhalla
Valhalla is the name of a NFT gaming metaverse Floki is designing. It will feature a play-to-earn business model, as well as on-chain gaming interactions and upgradeable NFTs.
Valhalla is being anticipated by gaming enthusiasts, although it is still under development. It is expected to be launched in 2022.
FlokiPlace
Since the NFT economy is strong and will become even stronger, Floki is creating a world where people will be able to buy different physical goods with cryptocurrency.
Of course, the FLOKI token will be the core payment option.
Floki Inuversity
Floki is also working on a project to make it easier for everyone to understand cryptocurrency. The Floki Inuversity will be a crypto education platform with a huge database of crypto content which will be accessible with Floki as a means of payment.
Is it worth investing in FLOKI?
The community around dog-tokens often discuss the question if it is possible for those cryptocurrencies to reach $1. Well, it is extremely unlikely, because of the principle of supply and demand. There are just too many tokens.
For Floki to reach $0.01 it’s market cap should be around $100 billion. Right now, this seems almost impossible.
So, as any other cryptocurrency, Floki is a quite risky investment. Of course, it is possible for it to reach Dogecoin success, but it is also possible for it to crash to zero.
The only advice we are able to give you is to be careful investing in crypto, and never invest more than you are willing to lose.
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