One of the units that led to the ceiling in the supply of cryptocurrencies in 2021 was undoubtedly DOGE. The cryptocurrency, which received the support of Elon Musk, determined the trend of the market and made many investors lose, as well as many investors. As such, many cryptocurrencies – superficially – resembling DOGE have emerged, but very few of them have survived. The Shiba Inu and the Floki Inu, who surpassed him, were two of them.
Although the starting point of these DOGE-like cryptocurrencies is speculative and focused on the “meme culture” on the internet, they can actually reach very serious dimensions with the projects implemented later. Floki Inu also started out as one of the standard joke coins at first, but when he kept up with the Web 3.0 buzz that followed, things got serious and FLOKI was suddenly referred to as the “people’s cryptocurrency”.
What is Floki Inu and FLOKI?
Floki Inu is a blockchain project that was first started to be developed in 2021, while FLOKI is the cryptocurrency of this project that is also traded on cryptocurrency exchanges. The developer team decided to continue with the name Floki during the restructuring of the project.
After this change, Floki got its own blockchain infrastructure and was used mostly in philanthropy-based projects. For example, one of them is the Million Gardens Movement, which is supported by Kimbal Musk, the cook brother of Elon Musk. With projects like this one that aims to deliver food to regions and people who have difficulty in food access, Floki got rid of the image of “hype money on Twitter” in the eyes of investors who follow closely, and started to be seen as a part of social movements.
In addition, the crypto currency of the project, FLOKI, is one of the rare cryptocurrencies that can be traded on both Ethereum and Binance Smart Chain, as it is compatible with both ERC-20 and BEP-20 technologies. In other words, it can easily act as a bridge between two different chains, giving investors the chance to protect their income or make a profit.
They also worked with Fenerbahçe football A team for a while:
Fenerbahce, one of the sports clubs that invest in cryptocurrency and blockchain-based community projects, had the Floki logo on the jerseys worn by the A team in the 2021 season. This cooperation, which was made for the purpose of awareness, did not continue in the 2022 – 2023 season. However, during the restructuring process of Floki, he made an important contribution to making his name heard in our country. In addition, similar to Fenerbahçe, an agreement was signed with the German Bundesliga team Bayern 04 Leverkusen.
The team behind the Floki project:
Like almost every other meme culture cryptocurrency, the team that developed Floki maintains its anonymity. On the web page where the prestigious collaborations of the project are announced, the members of the team, Mr. Brown Whale is described by the nicknames The Viking, Jackie Xu, Saber, and Lintern. Of course, this anonymity is acceptable to a certain extent, as it is widely preferred among cryptocurrency projects.
Floki’s other projects and philosophy:
- Valhalla: Metaverse focused game that can be monetized with Floki
- FlokiFi: Floki-based decentralized finance platform
- FlokiPlaces: NFT marketplace
- University of Floki: Crypto-focused online education platform
These projects in the Floki ecosystem have been implemented in a way that will serve the goals of benefit and philanthropy after the restructuring. It also accelerated Floki’s adaptation to Web 3.0 trends, enabling it to sit on a more solid foundation.
Floki’s pros and cons:
- Supporting multiple blockchains (Ethereum and Binance Smart Chain),
- Not a standard crypto money project, but with projects that will increase its value,
- Signing agreements with reputable companies or other projects that will enlarge the ecosystem,
- It claims to support philanthropic initiatives.
Cons of Floki:
- 3% commission for transfers between Ethereum and Binance Smart Chain,
- Being open to the intervention of Elon Musk and similar speculators,
- Its circulating supply is high and therefore its price per unit may therefore remain low,
- Very little usable space outside of its own ecosystem, not yet accepted in larger De-Fi environments,
- His team is completely anonymous, which makes it difficult to identify those responsible should anything go wrong with the project.
Similarities between Floki and Shiba Inu and DOGE:
- All 3 cryptocurrencies were popularized by Elon Musk, but later they took separate paths and structures
- The strategy of acting with the logic of the community applies to these 3 units, as it is to all joke-oriented projects.
- Cryptocurrency supplies of all 3 projects are extremely high, and therefore unit prices are constantly at low levels. This makes them accessible to small investors.
Differences between Floki and Shiba Inu and DOGE:
- As of February 2023, DOGE has a market capitalization of $11.3 billion, Shiba Inu $7.3 billion, and Floki only $459 million. This shows that Floki has not yet grown as much as other projects it has targeted.
- Out of these 3 units, only Shiba Inu has a second blockchain project
- Not only are DOGE’s developers anonymous, Shiba and Floki’s developers keep their identities secret.
- Only Shiba Inu has its own exchange (Shibaswap)
How to buy Floki (FLOKI)?
- Step #1: Access the Poloniex exchange and open an account,
- Perform authentication (KYC) steps for your security,
- Step #2: Transfer balance to your account in any currency from other exchanges,
- Step #3: If this currency is not in dollars, convert it to dollars,
- Step #4: Go to the Markets section and search for Floki,
- Step #5: You can buy any amount of Floki you want.
Floki, whose market value is approaching $ 500 million, seems to be one of the stars of the next bull process that is likely to occur in the crypto money markets. As you know, we have seen projects such as DOGE and Shiba, which enable investors to earn high income in the short term. Floki, on the other hand, has a structure where things get serious after this period and Web 3.0 is adopted. Considering that the projects adopting Web 3.0 technologies will come to the fore in the next rising period, this seems to be a very serious advantage.
This content has been prepared for informational purposes only and does not constitute investment advice.
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