Floki Inu Explained: A Movement and A Meme-Coin in One
Floki Inu, initially named after Elon Musochka’s beloved puppy Shiba Inu, has gained considerable popularity as a cryptocurrency based on memes.
However, this is not an easy mockery – the ideology of the plan, consisting of 3 pillars: the status of the meme, usefulness, and charity, can help it stand out from the thousands of memes that flooded the exchange.
What Is Floki Inu?
Floki is a cryptocurrency that was originally designed as a meme coin based on Elon Musochka’s psyche but later transformed into a full web-3 project including dispersed capital, NFT, and Metaverse.
Nowadays, the Floki plan period is referred to as “ethnic cryptocurrency”. The group behind the Floki plan has turned a previously unnecessary meme coin into something bigger.
The token interconnected with the plan, FLOKI, is considered multi-chain and also functions in Ethereum blockchains as well as in the Binance Smart Chain (BSC), as it is interconnected with ERC-20 as well as BEP-20.
FLOKI tokens can be simply combined among the two chains, allowing FLOKI holders to use each blockchain to store their tokens and perform actions with them.
It should be noted that FLOKI encoded a fee of 3%, which is charged in the presence of the acquisition and sale of tokens, but not the presence of the transition between the two chains.
This fee follows in the wheel Floki Inu, which, as well as the plan states, will be applied to further form an ecosystem and increase the number of users of Floki.
According to the White Paper, the group will reduce the fee as soon as the treasury accumulates enough money. But the specific task or designation in such a case, if this happens, and also in what amount the fee will be reduced, is not told in any way.
The History of FLOKI
The concept of the formation of FLOKI appeared on June 25, 2021, when Particle Musk composed on his own Twitter, that someone plans to take a puppy Shiba Inu, and that he will be called Floki.
Not a single person and in no way thought that this appeal Musk would turn to the formation of the newest navel together with the same name, that and also the predicted puppy of the chief of Tesla.
The group of creators who created Floki Inu, instantly transferred to the actions, using the impact of Masochka in the dynamics of the cost in meme coins to form the latest token together with the dog theme.
By September 12, if Particle Musk announced that his family circle had finally adopted the puppy, FLOKI had previously traded in the trade.
It is curious, that in this case besides was caused by an attack according to Musk’s brother, Kimbal Lichin, and also his move “1000000 gardens”.
According to the official website of FLOKI, this is “one crypto project formally working together with the relocation of Million Gardens of brother #DogeFatherKimbal Mask”.
Together with the Move, FLOKI is trying to find a solution to the issue of inaccessibility of product security in society.
Because of the initial few months of its own life, the meme coin experienced a significant increase in value. At first, FLOKI was quoted because of millionths of a cent.
But in September, the value increased by more than 250,000%, allowing the memecoin to reach new all-time highs (ATH).
The total size of Floki Inu’s prescription is Ten trillion tokens, with almost 50% of it believed to be burned in Ethereum and Binance Smart Chain. At the time of writing (November 1, 2021), FLOKI’s bazaar price is $2.1 billion.
Who Are the Founders of Floki?
Floki is a decentralized plan controlled by the community and also contains a key indication that suggests the range of interests of the community. Pseudonymous persons, in this quantity B, Sabre, and also Mr Brown Whale, enter into the structure of the instruction.
The main developer of the plan, according to Floki’s phrases, is Jackie Xu, who has more than years of experience with blockchain and is also a revered person in the sphere.
Valhalla, NFT’s gaming meta-universe, is being developed by the installation with the Twentieth people along with a single activity skill for most Fifty years, as well as the group stated.
The main decisions affecting the plan are taken using DAO voting, in which the community elects together with the support of their own FLOKI tokens.
Floki Inu Price Prediction
According to Caprice on 25 October 2023 grams. the value of FLOKI is $0.000025, which is 92.44% further than its ATH of $0.0003. November 4, 2021 grams, however, 30000% greater than its low value of $0.00000008 fixed on July 6, 2021 grams.
Despite the indescribable transition from July 2021 down to the current value, it is very nearly impossible that Floki Inu will ever reach the $0.01 United States dollar valuation, never mind $1, due to the large FLOKI prescription.
But being a hyper deflationary coin, its demand can increase according to the verge of decreasing the prescription.
The Floki company is rapidly adding to its token permanent deflation apparatus, for example, the result of FlokiFi, in which 25% of any transaction goes into the acquisition and also burning of FLOKI.
Floki’s final recommendation – the Floki Card prepaid scheme – also allocates 1% of the 3.75% commission due to the expansion of the number of transactions to the purchase as well as the burning of FLOKI.
In addition, Floki only completely burned 5.1 trillion of its non-circulating tokens in February 2023.
Already after this burn, the 1st of the largest in the cryptocurrency field, the value of Floki for a while jumped up to 0.000056 dollars, but further retreated to the degree of 0.00002 dollars.
Price experts are firmly set about FLOKI: according to DigitalCoinPrice monitoring, the value of FLOKI will increase up to $0.000092 in 2025 and also up to $0.00026 in 2030.
In contrast to this, PricePrediction is guided by less suitable monitoring, predicting the highest value of $0.00002 in 2025 and $0.00013 in 2030.
What makes Floki unique?
Floki aims to set itself apart from other meme coins by combining memes with utility. The team’s long-term vision is to create an autonomous and decentralized ecosystem, including strategic partnerships, creating utility on the token itself, and developing scenarios to leverage the Floki brand through NFT, games, and decentralized financial functions.
The company’s main flagship product is an NFT gaming metaverse called Valhalla. As envisioned by Floki Inu, it is a gaming metaverse where one can earn rewards for battles, trade, or store assets obtained in the metaverse.
The team plans to take successful elements from games like Pokémon and Skyrim and implement them into Valhalla.
Players will be able to capture and battle creatures called Vera, and the game will also feature a gardening system where players can tend to their crops, which can later be sold as NFTs.
With Valhalla, Floki Inu is trying to follow the path blazed by games like Axie Infinity (AXS), which popularized the game and blockchain earnings through gaming.
How many Floki (FLOKI) coins are in circulation?
The total supply of Floki is 10 trillion FLOKI. According to BscScan and Etherscan, there are more than 400,000 FLOKI holders in Ethereum and BSC combined.
Users can purchase FLOKI on Uniswap and PancakeSwap, but a 0.3% tax is charged on each purchase, which will be used to further develop the Floki ecosystem.
How is Floki’s network protected?
FLOKI is both an ERC-20 token on Ethereum and a BEP-20 token on the Binance Smart Chain.
ERC-20 is the token standard that the newest tokens follow when publishing on the Ethereum blockchain.
Ethereum is one of the most popular blockchains on which many decentralized applications run. Its proof-of-work consensus mechanism requires miners to mine new Ethers and ensures that Ethereum is one of the most secure blockchains in the crypto industry.
A set of decentralized nodes confirms transactions and ensures the security of the Ethereum blockchain.
The security of the BSC is ensured through a proof-of-stake consensus mechanism.
To validate transactions and maintain the security of the blockchain, 21 validators are elected every 24 hours. To qualify, validators must deposit a certain number of BNB coins on Binance.
Will Floki reach the $0.01 mark?
Due to the extremely high volume of supply, it is unlikely that FLOKI will ever reach one cent. However, the token has been in a strong uptrend since the end of October 2021 and has been setting new all-time highs almost daily.
Therefore, it is quite realistic that the FLOKI exchange rate will reach at least 0.1 cents in the future.
Where can I buy Floki (FLOKI)?
FLOKI is available on Huobi, Gate.io, Bybit, Uniswap (V2), BKEX, and Pancake Swap (V2).