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FLOKI 24-Hours Trading Volume Boosted By Over 160% – Here’s Why

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Despite the overall bearish trend in the market, the Floki token has managed to stand out by registering a staggering growth in trading volume of about 162% in the last 24 hours. This unprecedented surge has caught the attention as the token continues to defy the odds in a challenging market environment.

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Source: CoinMarketcap

Floki Inu is an ERC-20 token, representing another dog-themed meme coin that exists on the Ethereum (ETH) blockchain. According to its whitepaper, it is not just a meme coin but a movement created by enthusiasts and members of the Shiba Inu community who have given birth to this new cryptocurrency.

In addition to the impressive trading volume, the Floki token has also experienced a significant surge in the daily chart of about 15% earlier today before retreating slightly and currently holding on to a daily gain of 8%. However, the weekly chart still reflects a bearish trend with a loss of about 9.12%.

According to the latest data from CoinMarketCap, the price of the Floki token is currently at $0.00004389. This positive momentum has created excitement among traders and investors who are looking to capitalize on the token’s potential for further growth.

FLOKI 1D graph coinmarketcap
Source: CoinMarketcap

Despite this positive outlook of the token, CoinCodex provided a pessimistic projection for the short-term value of Floki Inu in 2023. According to their analysis, the coin may plummet to $0.00003359 by March 12th and then further decrease to $0.00003007 by April 6th.

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Source: CoinCodex

FLOKI Token’s Price Driving Factor

FLOKI is on a roll once again. The token has been making headlines lately, and there are a variety of reasons why it is up today. One of the major reasons for the spike in the token’s value is the recent announcement that FLOKI/USDT trading is live on the Indian crypto exchange WazirX.

This means that investors can now buy, sell, and trade FLOKI in the USDT market of WazirX. This news has created a lot of excitement in the cryptocurrency community and has contributed to the recent surge in FLOKI’s value.

But that’s not all. According to a recent tweet by the popular crypto exchange KuCoin, the token is the second most searched crypto on their exchange in the past week, beating out other popular currencies like AGIX, DOGE, BNB, TRX, and MATIC. This is a testament to the growing popularity of the token among crypto investors and traders.

Moreover, the token is also trending on Twitter once again. The hashtag Floki is currently trending alongside other popular crypto-related hashtags like Bitcoin, Satoshi, Binance, and Mastercard. This is a clear indication that the token is on the radar of many crypto enthusiasts and investors.

Related Reading | XRP Lawyer Predicts Summary Judgement Is Near

Floki Inu’s Roadmap For 2023 Teases A “Mystery Project”

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The team behind Shiba Inu’s rival Floki Inu has published its brand new roadmap for the current year.

According to the blog, the roadmap outlines its goals for 2023 and provides a sneak peek at its strategies for guiding the Floki community through the various phases.

Divided into four phases, the first of which comprises the completed ones, such as the launch of Floki’s merchandise store, partnerships with decentralized oracle solution Pyth Network and cryptocurrency payments platform Binance Pay.

The next stages reveal the upcoming release of a native staking program, revamping the FlokiFi protocol, and the launch of the Floki Debit Card.

The native Floki staking program’s “Phase 1” is currently being developed, according to the blog, and will shortly be introduced with a crucial DAO vote.

Phase 3 will see the release of FlokiFi’s second major product, currently codenamed “Project TL” on 4 chains.

In the final phase, Valhalla, a flagship utility product and metaverse game will be rolled out. The team also spilled beans on a “mystery project” that it claims “will play a key role within the Floki ecosystem.”

“We won’t reveal too much about this project for now,” the blog added.

Furthermore, the team said that the above-mentioned phases do not necessarily stand for “quarters” or “months” and are not bound by specific timelines.

The roadmap places a strong emphasis on transparency and the project’s resolve to take on its much bigger rival Shiba Inu.

That said, the token had a stellar debut in 2023.

Floki Inu Price Rallied By 100%

The price of Floki increased by roughly 100% in January after the coin’s developer, the Floki Inu DAO, approved a governance resolution to burn $100 million worth of tokens.

Burning tokens serve the objective of reducing supply, which raises the value of each token while maintaining the same amount of demand.

Last week, the dog-themed token soared by a whopping 40% after Twitter CEO Elon Musk posted a meme with his dog Floki posing as the new Twitter CEO.

Additionally, FLOKI also gained entries into several leading crypto exchanges. Its first listing was on a Turkish exchange, Bitexen.

Recently, Singapore-based top derivatives crypto platform Phemex also added three new USDT-margined linear contract trading pairs to its platform including FLOKI.

The burning of 5.1 trillion tokens in two transactions by Floki Inu on February 9th also garnered media attention.

Floki Inu has also been included in the Metaverse, Gaming, and PlayToEarn categories on CoinMarketCap, one of the top cryptocurrency tracking websites in the world.

Dogecoin Wallet Transfers $28M After 2 Years of Dormancy, Musk’s Tweet Sparks Frenzy

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On Thursday, blockchain analysis platform Lookonchain reported a massive Dogecoin (DOGE) transfer worth $28 million from a dormant wallet that had been inactive for almost two years. The transfer involved 326.4 million DOGE that had been sitting idle since 2021, raising speculations in the crypto community about its purpose.

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Some analysts believe that institutional investors may be entering the DOGE market, while others speculate that it could be a large-scale trade or significant movement by a big player.

The news of the transaction resulted in a surge in DOGE’s price in the hours following the transfer; currently, it is trading at $0.08633, with a 5% rise in the weekly chart, as per CoinMarketcap’s data.

A day before the massive transfer, Elon Musk tweeted a photo of his dog, which many believe had a positive impact on the prices of both DOGE and Floki Inu (FLOKI). On Wednesday, DOGE rose by over 15%, while FLOKI surged by almost 66%, which many attributed to Musk’s tweet, as reported by TronWeekly.

DOGE 7D graph coinmarketcap
Source: CoinMarketcap

Musk’s tweet featuring his Shiba Inu dog – the mascot of the meme-based cryptocurrency DOGE – set the crypto world abuzz. While DOGE has risen less than other major tokens in the past 24 hours, Musk’s history of tweeting and meme-ing about DOGE has sparked a flurry of online discussion among crypto enthusiasts.

Although some believe that Musk’s tweets are a way to troll the crypto community, others speculate that they could be a calculated move to increase the adoption and popularity of DOGE. 

Despite its fair share of ups and downs, Dogecoin has managed to hold steady in recent months and remains a popular choice among investors and traders.

Musk’s Love Affair with Dogecoin Continues

Musk’s recent antics have kept the crypto world on its toes. A few days ago, he donned a DOGE t-shirt at the Super Bowl LVII, causing a brief mini-rally for DOGE’s price. His tweets and memes have become an integral part of DOGE’s journey and have played a crucial role in making it a popular cryptocurrency.

Musk’s latest tweet featuring his Shiba Inu dog has further fueled discussions about the future of DOGE. It remains to be seen what impact it will have on DOGE’s price and the wider crypto market. However, Musk’s history suggests that his love affair with DOGE is far from over, and the crypto community can expect more surprises in the future.

Floki Inu Rides The Meme Coin Wave, Soaring To New Heights With 66% Boost In A Day

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Floki Inu, a dog-themed token, has experienced a surge in price, reaching its highest levels since January 2022. CoinMarketCap’s data shows that Floki Inu’s market cap is over $328 million, making it the 216th biggest crypto in the world.

Musk’s Tweet Causes FLOKI to Jump

Elon Musk’s tweet featuring his Shiba Inu puppy caused Dogecoin’s price to skyrocket, and this tweet has also propelled Floki Inu’s price to surge. The official Floki Inu Twitter account thanked Musk “for this opportunity” and hinted that they saw it as a favorable sign.

The FLOKI price has risen 65.43% in the last 24 hours and 75% in the previous seven days, with a 176% growth in trading volume in the last 24 hours. Additionally, the market cap has risen by 65%. 

FLOKI 1D graph coinmarketcap
Source: CoinMarketcap

It invalidated the double-top pattern that was forming, moving from a low of $0.00000815 to a high of $0.00005124 since the start of the new year. CoinGecko data shows that FLOKI experienced about 422.9% growth in the last 30 days, and during the previous 14 days, it managed to gain about 101.7%.

According to our current FLOKI price prediction from coincodex:

The value of FLOKI is predicted to rise by 11.50% and reach $ 0.00005952 by February 21, 2023. According to our technical indicators, the current sentiment is Bullish, while the Fear & Greed Index is showing 62 (Greed).

Kucoin & LunarCrush Listings Floki Inu

Kucoin, a major crypto exchange, has listed Floki Inu, and the token will be paired with USDT and USDC stablecoins, exposing it to over 27 million customers in 207 countries. The Floki Inu Twitter account called this “massive and one of the biggest Floki exchange listings” so far.

Floki Inu has also been added by LunarCrush, along with other popular meme coins such as SHIB, BNB, and Dogecoin. It is now available for trading among the first assets on the platform.

Overall, the surge in price has also been fueled by the sudden momentum in meme coins, which has been a hot topic among investors and traders. As the crypto market continues to evolve, it will be interesting to see how meme coins like Floki Inu perform in the coming weeks and months.

Related Reading | Binance To Face Monetary Penalties For Breaking U.S. Laws, Says Top Executive

Dogecoin And Other Canine Cryptos Soar High After This Tweet

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This isn’t the first time Dogecoin (DOGE) has risen in response to a tweet about Elon Musk. Following Twitter CEO Elon Musk’s post of a meme featuring his dog Floki acting as the new Twitter CEO, traders are pushing all things Shiba Inu.

According to statistics, the price of DOGE has increased 5.4% over the last day.

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When Musk’s takeover of Twitter came to an end on October 27, Agrawal was replaced as the company’s CEO. Although the two were friendly when they initially met, as 2022 drew on, their relationship reportedly deteriorated as Musk became Twitter’s largest shareholder. Agrawal no longer follows Musk on Twitter, but the former CEO does.

After losing an online poll on the subject, Musk was said to have started seeking for a new CEO of Twitter in December.

He said,

“I will resign as CEO as soon as I find someone foolish enough to take the job! After that, I will just run the software & servers teams.”

CoinGecko data shows that Floki, which gets its name from Musk’s dog, has increased 41% during the past day.

After the Floki Inu DAO, the organization that created the coin, passed a governance resolution to carry out a $100 million token burn, the price of Floki increased by approximately 100% in January.

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Burning tokens makes sense since it reduces supply, which, assuming demand stays the same, increases the value of each token. This resembles a stock buy-back in the cryptocurrency space.

Dogecoin To Show World Canine Power?

This isn’t the first time Dogecoin has risen in response to a tweet about Elon Musk. Dogecoin skyrocketed in late January following a Financial Times report claiming that Twitter is developing a method to allow cryptocurrency payments.

Shiba Inu (SHIB), another meme coin, and other disproportionate increases have traditionally been the first indication of a market selloff, according to a report published in December 2022 by blockchain analytics company Santiment.

Markets have started to emerge from the depths of the FTX-caused crypto winter during the past three months. By the middle of January, according to reports, Bitcoin has completely reversed the loss caused by the FTX. With several of these coins showing double- or triple-digit gains, the market rebound has also signaled the start of an altcoin season.

In the past three months, Bitcoin has increased by 34%, while SHIB is up 40%, BONK is up astoundingly, 533%, and Floki is up 242%.

The fact that Dogecoin is down 2% during this time, despite the other canine coins screaming at the moon (including today’s rise), suggests that assuming Santiment’s theory is correct, we have not yet reached the stage of a market-wide sell-off.

Floki Inu and Chainlink collaborate to enhance protocol

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The integration of Chainlink Keepers service with Floki Inu’s token-locking system, FlokiFi Locker, has been announced. The most recent innovation is an extension of Floki Inu’s dedication to enhancing the effectiveness of its services and growing its user base. The process of users locking tokens through FlokiFi Locker should become quicker, more efficient, and more safe thanks to Chainlink Keepers, a decentralised service created to manage duties on behalf of smart contracts.

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Source: Twitter

This is not the first time the two cryptocurrency startups have worked together. Chainlink and Floki Inu previously collaborated on integrating the Chainlink Price Feeds service into FlokiFi Locker. The FlokiFi Locker now offers the accurate price display for token locking in many networks as a result of that invention.

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Source: Twitter

In addition to having a thriving community, Floki Inu has partnerships and synergies that have advanced the project’s storyline. In reality, Floki Inu revealed publicly on Twitter on December 3 that Chainlink had been integrated into the platform as part of a calculated attempt to enter the DeFi market.

This connection could provide Floki with access to the tamper-proof price feeds required to read an accurate on-chain pricing and play a critical role in facilitating the smooth operation of Floki’s P2E NFT game. According to the platform, the change will also make HODLing tokens simpler while enabling users to stake, lend, and borrow in the future.

In addition, Floki teamed with Bayer 04 Leverkusen, a dominant force in the Bundesliga and a German professional football club. This increased the altcoin’s visibility. Thus, the query: Why does the coin still have a market cap ranking of 2800 while having a respectable number of partnerships and integrations?

Courageous Floki Inu community

The vast majority of cryptocurrency assets struggled to build value and are now worthless. The potential for growth of these assets has been taken into consideration by the community, however some residents have expressed concern regarding price stagnation. A significant member of the Floki Inu team decided to resolve the problem at a recent AMA that took place in July 2022.

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Source: Twitter

The bear market has caused extreme difficulty for the market as a whole. The impact of FLOKI was one of them. Over the last three months, there has been a dramatic fall in the meme currency.

Floki Inu folks’ resilience during price volatility

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Floki Inu has been making waves since its launch. One of the strangest and most intriguing phenomena in the cryptocurrency market has been dog-coins.

Dogecoin (DOGE) and Shiba Inu (SHIB) riled up the meme crypto revolution. These assets’ rising popularity paved the path for the development of related cryptocurrencies like Floki Inu [FLOKI], BabyDoge Coin, and others. The price was less important than these assets because they were being adopted first.

The majority of these assets struggled to make gains and are currently worthless. Even though the community has been considering these assets’ potential for development, several members have expressed worries over price stagnation. During a recent AMA, a key team member of Floki Inu made the decision to solve the issue.

The market as a whole is in severe hardship as a result of the bear market. One of the impacts was FLOKI. The meme currency has experienced a significant decline over the past three months.

This worrying occurrence has undoubtedly received a lot of attention. However, the core team of the network appears to be cut off by the same. A team member identified in the AMA as @100bviking on Twitter claimed that they were unconcerned with FLOKI’s short-term price movement. In fact, he said, “It doesn’t move us, and it certainly doesn’t distract us.”

He further added,

“That said, to answer the above question, macro sentiments over the past few months have been very bearish and crypto isn’t an exception. Ethereum will become 7 years old this year (meaning it has survived several bear markets) and is the second largest crypto asset in the world with countless of institutional investors and on every exchange in the world yet it’s down 80%.”

Additionally, he pointed out that the Floki Inu is not immune to the bears’ swings. However, they continue on with adoption as their main objective.

Listing on CEX, an essential to Floki Inu price

Despite the start of the bear market, assets like Shiba Inu have been able to attract listings. For Floki Inu, things weren’t the same. The community emphasized the importance of CEX listings in maintaining a cryptocurrency’s price and volume.

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Regarding the same, the core team member mentioned that they were in discussions regarding listings with numerous CEXs. A few people are waiting for the bear market, while others have consented to list the altcoin right away. Therefore, there is no significant problem with the listing. At the time of writing, Floki was priced at $0.00000709 with a daily hike of 0.4%.

Floki Inu Gets Back on Track With Its Controversial Advertisements

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Floki Inu (FLOKI), a Dogecoin (DOGE) competitor, has launched an “aggressive” marketing effort in London, plastering ads around the city’s railway stations and on the city’s famed red buses.

In a Sunday blog, Floki Inu revealed the new campaign, stating that “the people’s cryptocurrency” will begin advertising on the sides of 100 buses and 203 posters in the city’s subway stations on Monday.

The meme coin’s current marketing push follows a similar marketing blitz in late 2021 that sparked outrage from London Assembly member Sian Berry, who attempted to prohibit all cryptocurrency ads on the city’s train and bus networks.

Floki Inu and red buses

“Missed Doge?” read signs in FLOKI’s last campaign. “Get Floki.” In November, in a tweet, Berry compared cryptocurrency to gambling, adding that public services should not promote “risky” schemes.

The campaign drew so much criticism that the Advertising and Standards Authority (ASA) of the United Kingdom intervened, banning the commercial on March 2 because it “exploited customers’ anxieties of losing out, trivialized bitcoin investing, and took advantage of consumers’ inexperience.”

Despite the regulatory opposition, Sabre, the pseudonymous alias for Floki Inu’s head of marketing, underscored in the release that the team had no intention of standing down:

“In a sense, this second London campaign is an even bigger win for Floki and the crypto industry as a whole than the first, as our team has fought for the right to advertise our groundbreaking project to the public.”

“Some people wanted us outright banned, and the anti-crypto movement continues to spread like wildfire through smear campaigns and disinformation. “No matter what, the Floki Team will always remain firm,” they said.

The Advertising Standards Authority (ASA) extended a slew of prohibitions on crypto businesses’ advertising in the UK earlier this year in January.

Two advertisements from Crypto.com, which advertised the convenience of acquiring Bitcoin and collecting yield incentives, were blocked by the authority because they failed to disclose the investment’s risk.

The Advertising Standards Authority (ASA) issued ad bans on six crypto businesses in mid-December 2021 for “taking advantage of customers’ inexperience” and failing to highlight the risk of crypto investment.

UK watchdogs tighten noose on crypto ads

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Over 50 companies that have marketed cryptocurrency services in the United Kingdom (UK) have received an enforcement notice from the Advertising Standards Authority (ASA), instructing them to assess their adverts to ensure they comply with new instructions.

The companies mentioned are the ones that appear to have pushed cryptocurrency ahead of a planned crackdown in the country on deceptive and irresponsible crypto advertisements, according to reports.

The UK Advertising Standards Authority Issues A Red Alert About Cryptocurrencies

The notice, according to the Advertising Standards Authority, is intended to act as a caution to firms to examine and tidy up their adverts over the following two months, after which more stringent measures to punish rule-breakers would be implemented.

Crypto advertisements, that have risen as digital assets along with gaining widespread appeal, have been targeted by regulators around the world. Earlier this year, governments and watchdogs in the UK, Singapore, and Spain pledged to stiffen regulations on crypto advertisements. These rigorous guidelines also limit such promotions to just rich investors, though the United Kingdom has yet to establish a deadline for enacting that reform into law.

Guidelines of UK’s advertisement enforcement notice

All promotions should clearly and prominently state that cryptoassets are unregulated in the United Kingdom, that any profits may be subject to Capital Gains Tax, and that the value of crypto investments can go down as well as up, according to the ASA’s enforcement notice, which was issued on Tuesday. Advertisements in newspapers and magazines, on television, in emails, on outdoor posters, in boosted social media postings, and through paid agreements with influencers are all inclusive of this.

The ASA said that all commercials airing between now and May 2 will be checked for compliance, with “targeted enforcement action” taken if problems remain after that date. Furthermore, repeat offenders will be reported to the Financial Conduct Authority as well as Trading Standards, which has the authority to prosecute, penalise, and eventually stop businesses from trading.

The ASA refused to name any of the companies that got the enforcement notice but alluded to recent ASA judgments against crypto ad companies in the United Kingdom. Coinbase Europe Ltd, Arsenal Football Club, eToro’s UK subsidiary, and Floki Ltd., which launched adverts in favour of the parody cryptocurrency Floki Inu, are among the companies involved.

Floki Inu available to millions through CoinDCX listing

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Floki Inu has been added to CoinDCX Pro, yet another Indian cryptocurrency exchange platform. CoinDCX had declared that the altcoin would be listed at 8.30 p.m. on 2 March 2022.

Floki Inu (FLOKI) is a meme coin that is dog-themed. This altcoin calls itself “a movement” rather than a meme coin. This cryptocurrency was created by Shiba Inu (SHIB) fans and the SHIB community members. Elon Musk’s Shiba Inu inspired the coin’s form.

Floki Inu and Indian Soccer club, Kerala Blasters FC, partnership

Not very long ago, FLOKI had announced its partnership with the Indian football club. On 19 November 2022, the meme coin took to its Twitter handle to announce its collaboration with Kerala Blasters FC, one of the top football clubs in India, as a sleeve sponsorship deal.

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Kerala Blasters are one of the best teams in the category, having won second place in two championships. In the then-new Indian Super League season, the meme coin’s logo and website were to be displayed on Kerala Blasters’ kit sleeves.

The ISL, which began in 2013, is India’s elite soccer league, with 11 teams competing in the 2021-2022 season. With over 130 million global fans, the league is the fifth most renowned in the world.

The agreement, which took effect immediately, also included Floki Inu’s logo being displayed on LED screens during home games at the team’s 41k accommodation stadium.

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Kerala Blaster’s new kit with FLOKI as sponsor

The goal of the collaboration for meme coin was to help crypto become ubiquitous in India and get access to the large market there. Due to the soccer league’s global popularity, Floki Inu has also garnered more global recognition with the sponsorship.

However, this wasn’t the first time a sports team has teamed up with a cryptocurrency company. For a long time, crypto-related businesses have been establishing sponsorship agreements with teams from all over the world.

Sports appeal to a wide range of audiences, thus crypto organizations find them to be an excellent way to sell to a large audience. Elon Musk’s favorite crypto, Dogecoin, also signed a kit agreement with English Premier League club Watford FC earlier in 2021. At the time of writing, Floki Inu was priced at $0.00003614 with a daily plunge of 8.9%.