Rank #62
Floki Inu

Floki Inu

FLOKI
$0.0001536200
7.33% /24h

Floki Inu currently traded at $0.0001536200 price, we update this information in real time. Over the past 24 hours it changed from $0.00 to $0.0001536200. Currently Floki Inu is ranked as #62 in our chart. The total supply of Floki Inu is 9,566,517,197,164.00

graph not available

Category

$Best of the best

Market cap

$1,469,629,543.00

Volume (24h)

$3,263,687,936.00

Volume/Market cap (24h)

222.08%

Circulating supply

9,566,517,197,164.00 FLOKI

Total supply

9,566,517,197,164.00 FLOKI

Max supply

9,566,517,197,164.00 FLOKI

Fully diluted market cap

$1,469,629,543.00
FLOKI to USD converter
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  • 1 BTC = 65,992.00 USD

    From Dogecoin to Shiba Inu to Bonk, the crypto market is saturated with a myriad of dog-themed meme coins gaining attention among investors. Despite being relatively new projects with humorous tokens with limited use cases, many meme coins, including Floki, have recorded significant growth. In the past 24 hours (April 15, 2024), Floki price has increased with a change of 8.20% in the past 24 hours, and trading at a price of $0.000157.

    Floki, sometimes referred to as Floki Inu, is a meme status coin built on both the Ethereum blockchain and the Binance Smart Chain (BSC). Like other dog-themed coins, Floki is a fun coin created through a viral social media moment inspired by Elon Musk’s pet dog. However, its growth has been impressive since it launched. So, what is Floki, and what should you know about the coin before investing? This guide will explore the details and explain all that you need to know.

    FLOKI price analysis


    Coin NameFloki Inu
    Floki Inu SymbolFLOKI
    Floki Inu Price$0.000157
    Floki Inu Price Change 24h▲ 8.20%
    Floki Inu Price Change 7d▼ -22.87%
    Floki Inu Market Cap$1,508,751,394
    Circulating Supply9,566,518,738,738 FLOKI

    What are Flokis? As an investor, it’s crucial to know the answer to this question, as detailed knowledge will help you make informed decisions when investing. However, before exploring the meme coin, let’s consider the FLOKI price and historical data. As of March 2024, FLOKI’s price is approximately $0.0003 per token, up over 700% compared to its February 2024 price. The significant increase in Floki’s value at the time stems from the generally optimistic crypto market experiencing strong bullish trends.

    During the same period, Bitcoin attained a new all-time high of over $70,000, causing a surge in the presence of retail and institutional investors within the crypto market. An overview of Floki’s price history gives insights into the coin’s growth since its inception:

    • 2021: When Floki launched in 2021, the coin started trading at $0.0000036 per token. It would reach a high of $0.0000747 in October and close the year at $0.0000998. 
    • 2022: The FLOKI price further peaked in 2021, starting the year at $0.0001043 per token. However, due to the prevailing bear market, the upward trend was short-lived, and the price reached a low of $0.00000557 in July. 
    • 2023: Floki had some good moments in 2023, especially after Binance announced the coin’s inclusion in its “Innovation Zone”. Ultimately, it closed the year at around $0.0000352. 

    At a March 2024 price of about $0.0003, FLOKI has soared by over 7,000% since it started trading. The coin sits among the top rallying meme coins on the market, outperforming more prominent competitors such as Dogecoin and Shiba Inu between February and March 2024. 

    Factors influencing FLOKI’s price 

    The primary influencer of Floki’s price is the increased bullish sentiment in the broader crypto market. As a result, investors seek affordable cryptocurrencies to buy, especially in the meme coin market. Besides the meme coin frenzy, another possible factor for the coin’s increased interest among whales and traders is the Floki Decentralized Autonomous Organization (DAO) announcement to burn over 190 billion tokens. Removing the massive number from its circulating supply can positively impact the Floki price, which is why traders invest in their numbers. 

    What is Floki?


    Tagged ‘The People’s Crypto’, Floki is a community-driven meme coin inspired by Shiba Inu, another meme coin. The creators of Floki designed the dog-themed coin after Elon Musk tweeted that he would name his Shiba Inu pet dog Floki. So, just like its predecessors, Floki is a fun, satirical coin leveraging the dog-themed meme coin popularity started by Dogecoin and Shiba Inu. However, the Floki project has expanded beyond being a Musk-inspired cryptocurrency to having unique goals and ambitions.

    It has an ecosystem powered by the FLOKI coin, with various features for gamers and investors seeking to stake the asset. Moreover, the FLOKI coin is a tradeable asset on major cryptocurrency exchanges. 

    How does FLOKI work?


    FLOKI is a meme coin that has been gaining traction ever since it launched. Here’s how the coin operates. 

    Multi-chain protocol

    Although it was launched on the Ethereum blockchain, Floki is one of the cryptocurrencies with the multi-chain protocol feature. The coin also operates on the Binance Smart Chain, making it a BEP-20 and ERC-20 token. Because of its interoperability, Floki holders can operate and transact across both chains effortlessly using the coin. Moreover, Floki’s 3% tax on buy or sell transactions doesn’t apply to transfers between the two blockchains. 

    Proof-of-stake consensus mechanism

    Floki transactions are validated using the proof-of-stake consensus mechanism. So, users can enter smart contracts by staking their assets and earn periodic rewards for validating transactions. The validation structure makes the network scalable and boosts its transaction speed.  

    Burn mechanism 

    As stated earlier, Floki’s DAO passed a proposal to commence the project’s burn mechanism, executed in March 2024. At the time, 190 billion FLOKI tokens worth over $47m were burned to reduce the coin’s circulating supply. This makes FLOKI a deflationary token, as the token burn can potentially increase its value over time. However, there’s no guarantee that this will happen because of the volatile nature of the crypto market. 

    Broad Web3 ecosystem 

    Something else that sets Floki apart from its competitors is its expansive ecosystem for Web3 enthusiasts and investors. The Floki ecosystem comprises:

    • Floki Valhalla: A play-to-earn metaverse game for Floki holders. The FLOKI token powers the non-fungible token (NFT) metaverse game. 
    • FlokiFi: A decentralized finance (DeFi) platform where Floki holders can access features such as liquidity pools, NFTs, fungible tokens and other DeFi utilities. 
    • Floki prepaid cards: A next-generation way to generate and fund a prepaid virtual Visa or Mastercard debit card for digital payments using FLOKI tokens and other cryptocurrencies. 
    • Floki Places: A decentralized NFT marketplace powered by Floki for trading merchandise and other NFT-backed digital assets.
    • University of Floki: A crypto education platform for newbies to learn about cryptocurrency and blockchain technology. 

    Who created Floki?


    According to the project’s website, Floki was launched in 2021 by a core team championed by the lead developer Jackie Xu.  Xu is a notable figure in the crypto industry and is supported by co-contributors such as B (Da Viking), Sabre and Mr. Brown (Whale), while Lintern manages the Floki community. The project’s team developed Floki to ride on Elon Musk’s social media clout after he said that he would name his pet dog Floki. So, it’s a fun meme coin ‘for the people’.

    FLOKI market performance


    As of March 2024, FLOKI’s trading price is around $0.0003, with a market capitalization of over $2bn. Floki ranks among the top cryptocurrencies by market cap at the time of writing, with a similar average trading volume to Bonk Inu, another popular dog-themed meme coin. However, ranked just outside the top 50 cryptocurrencies by market cap in March 2024, Floki is situated a fair distance away top meme coins such as Shiba Inu and Dogecoin. SHIB’s market cap is approximately $19bn at the time of writing, while DOGE’s market cap is around $25bn. Nonetheless, Floki has grown impressively in the meme coin ecosystem, forging a path among the well-known dog coins. 

    How to buy and store FLOKI 


    Floki is a tradeable asset on major centralized and decentralized exchanges. You can find the coin on centralized exchanges such as Binance, KuCoin and OKX. Using the steps below, you can also trade on decentralized exchanges such as OKX DEX, BiSwap and Uniswap. 

    • Step 1: Choose a preferred exchange and sign up for a trading account. 
    • Step 2: Complete identity verification (KYC) if required. 
    • Step 3: Deposit funds using the supported payment methods. 
    • Step 4: Search for FLOKI on the platform and buy the desired quantity. 
    • Step 5: Transfer the FLOKI tokens to a self-custodial crypto wallet. 

    Transferring your coins to an external crypto wallet helps you hedge against potential losses due to exchange hacks. Many hot and cold wallets are on the market for self-asset custody. Do your research and choose the option that best suits your needs.  

    The future of Floki


    According to the Floki whitepaper, the development team aims to make it one of the most popular and most used cryptocurrencies. To achieve this, the project has expanded its ecosystem by partnering with Binance Pay for crypto payments, spreading into the Chinese crypto market, and introducing various ecosystem features, including FlokiFi. Future project developments include more expansions into the metaverse market through Valhalla and the tokenization market through TokenFi.

    The developments will see Floki build products in both markets to improve its use cases and future demand. The Floki price predictions are also optimistic, as market analysts believe that future expansion, especially after its burn mechanism implementation, will drive the coin’s growth. The meme coin is predicted to reach $0.00039 by the end of 2024 and a yearly high of $0.00143 by 2025 due to these reasons.

    Risks and challenges 


    Floki’s impressive run in the market since launch makes it an attractive consideration for investors interested in meme coin investing. This being said, it is worth considering what risks and challenges exist. The most common challenge of investing in any cryptocurrency is the market uncertainty. The crypto market is volatile, and price swings are inevitable. An unprecedented sharp decline in Floki’s value will lead to losses.  Also, Floki exists in a highly competitive meme coin market with other top-performing assets such as Dogecoin, Shiba Inu and Pepe.

    The stiff competition poses a challenge to Bonk’s mass adoption and growth. What’s more, the crypto market is uncertain in terms of regulation. With varying laws and gray areas surrounding crypto investing in most regions, unfavorable regulatory developments can negatively impact Floki’s value.

    Secondly, meme coins such as Floki are riskier than major cryptocurrencies because their values strongly depend on social media hype rather than genuine utility. The highly competitive meme coin market also challenges Floki’s growth, as it’s struggling for a place among other top-performing tokens such as Pepe, Shiba Inu, Bonk and Dogecoin

    Regulatory and legal aspects of Floki


    The crypto market still needs legal clarity, especially in the US. As we await future decisions from governing bodies such as the US Securities and Exchange Commission (SEC), potential regulatory issues could affect the project’s future.

    Also, the project’s meme coin status exposes it to regulatory scrutiny. Such tokens have undefined definitions and classifications according to the law. Potential stringent regulatory frameworks will negatively impact Floki’s value and potential. 

    Community and ecosystem 


    Floki is more than a meme coin – it’s a movement driven by a strong community of Web3 developers, creators and investors. The Floki DAO is composed of community members saddled with the responsibility of determining the project’s future. Outside of Floki’s immediate environment, the community champions charitable causes. It previously partnered with Binance Charity to donate to earthquake survivors in Turkey. Floki also built schools in underdeveloped countries such as Ghana, Nigeria, Laos and Guatemala, with the plan to add to the number in the future. Ultimately, as the Floki community thrives, the token will gain more popularity as it’s the utility token powering the ecosystem. 

    Comparing FLOKI to other cryptocurrencies 


    How does Floki compare to other popular coins in the meme coin market? 

    Floki vs Shiba Inu 

    Floki and Shiba Inu (SHIB) have a similar history. Both tokens are sons of Dogecoin, the first meme cryptocurrency. Their popularity is also connected to Elon Musk. However, while both tokens have grown in value over time, Shiba hasa market cap of approximately $19bn, compared to Floki’s market cap of over $2bn. Conversely, Floki has a more robust ecosystem with various centralized and decentralized finance features. 

    Floki vs Dogecoin 

    Floki and Dogecoin (DOGE) are similar dog-themed coins in the meme coin ecosystem. Both coins’ values are highly influenced by social media hype and have rewarded early investors. However, despite Floki’s recent strides, Dogecoin has a significantly higher market cap with the potential to reach higher values. Floki’s market cap as of March 2024 is over $2bn, compared to Dogecoin’s approximately $25bn market cap. 

    Floki vs Bonk Inu 

    Floki Inu and Bonk Inu (BONK) are making headlines due to their significant growth in the meme coin ecosystem. Both coins belong to the dog family, leveraging the popularity of Shiba Inu and Dogecoin. However, while Bonk Inu is the utility token of a more extensive Solana ecosystem, Floki Inu is limited to only its ecosystem. Conversely, Floki offers broader use cases with its Web3 ecosystem features for DeFi users. 

    FAQs

    How much is 1 FLOKI worth?

    As of March 2024, Floki’s trading price is approximately $0.0003 per token. With an increase of over 700% compared to the previous month, Floki is a low-cost option for investors interested in the meme coin market.

    Is Floki actually safe?

    Floki is a meme coin and, thus, a speculative investment. Although the coin has rewarded early investors, it is risky due to its high price volatility. 

    Where is the best place to buy FLOKI? 

    Investors can buy Floki on different centralized and decentralized exchanges. The coin is listed on reputable trading platforms such as Binance, Coinbase, KuCoin and Uniswap. However, the best option depends on your needs and preferences.