A quick 3min read about today's crypto news!
Floki Inu (FLOKI), a memecoin named after Elon Musk’s Shiba Inu dog, has initiated an advertising campaign in London, flooding the city’s public transport system with ads funded by a levy imposed on the buyers of the pet-themed cryptocurrency. At the same time, shiba inu (SHIB) is now one step away from the top 10 club.
To lure new users to the Floki Inu community, ads featuring the coin’s slogan, “Missed Doge? Get Floki”, have rapidly spread throughout the metropolitan underground stations, trains and buses, per the Financial Times. The coin’s backers have shared a number of locations where the ads were placed.
#FLOKI pic.twitter.com/rtQqxFwF0g— Brett FLOKI (@BrettWheelwrig2) October 27, 2021
The project’s creators say the coin “is inspired by #DogeFather Elon Musk’s very own Shiba Inu,” and they are currently “working on three flagship utility projects: an NFT gaming metaverse known as Valhalla, an NFT and merchandise marketplace known as FlokiPlaces, and a content/education platform known as Floki Inuversity.”
The coin “has both an ERC 20 token and a BEP20 token. It can be bought on Uniswap DEX and PancakeSwap,” according to the creators.
Purchases and sales of Floki Inu are subject to what its founders call an 8% redistribution tax split equally between the marketing wallet and the coin’s holders: 4% is transferred to the marketing wallet, and 4% to holders. The levy enabled the project to launch its ad campaign in the UK capital.
At 11:01 UTC, FLOKI, with a market capitalization of USD 582m (per CoinMarketCap), trades at USD 0.00005800 and is down by 5% in a day and 21% in a week, trimming its monthly gains to less than 40%.
FLOKI price chart:
Meanwhile, the original dog-themed memecoin, dogecoin (DOGE), has a market capitalization of over USD 31bn and trades at USD 0.24. It's down by 12% in a day and 3% in a week. At the same time, the self-proclaimed "DOGE killer," shiba inu (SHIB) reached USD 28bn market capitalization today. SHIB trades at around USD 0.00005685 and is up by 29% in a day and 102% in a week. On Coingecko, DOGE is now ranked 10th by market capitalization, while SHIB is now 11th. ___Learn more: - Shiba Inu Speculators Could Learn This Lesson from Dogecoin- Dogecoin Wannabes Flood The Market With Pumps & Dumps- DOGE’s Rally Has Revived Dogecoin Development, But For How Long?- Are GameStop-Style Surges In Crypto Any Different From Old Pumps & Dumps?