Dog-based memecoins have been gaining a lot of popularity in the cryptocurrency market. It all started with the introduction of Dogecoin (DOGE), which was followed by the introduction of Shiba Inu (SHIBA).
Now, there is another contender you need to know about – Floki Inu. Floki is actually the name of Elon Musk’s pet Shiba Inu. The owner of Tesla was a big advocate for Dogecoin and Shiba Inu and played a part in increasing their values. And now, there is a cryptocurrency based on his pet.
The official white paper of the cryptocurrency states that it is ‘not a memecoin’. Instead, it is a movement.
Much like the Shiba Inu memecoin, it is based on the existence of a community. The community itself is called the Floki Vikings.
The members of the Floki Inu community call themselves Vikings since Musk’s dog was named after a Viking.
The idea came about on June 25, 2021, when Elon Musk Tweeted that his Shiba Inu dog would be called Floki and the community surrounding the memecoin has been developing ever since.
Market Data of Floki Inu
According to Coingecko, Floki Inu is trading at around $0.00020032 as of November 2021.
In August 2021, it was trading at $0.00000002. Over a period of only a few months, the value of the cryptocurrency has grown by over 17,000%.
If there is a similar pattern of growth over the next few years, Floki Inu could easily surpass Shiba Inu and compete with Dogecoin as the single most popular memecoin on the market.
What Features Does Floki Inu Offer?
Floki Inu is working on three main projects to help improve the value of the token. The first is an NFT gaming metaverse which will be called Valhalla (sticking with the Viking theme).
The second, a merchandise and marketing avenue known as FlokiPlaces. And finally, a content and education-based platform, which will be called the Floki Inuversity.
Floki Inu is partnered up with CryptoCart, which means that you can use the token to make purchases at over 1,700 stores through the service. There are also plans for Floki Inu to partner up with Curate (XCUR) to expand their reach. They will be able to spend on the XCUR marketplace in a matter of time when it launches.
Finally, it is worth noting that the cryptocurrency has joined up with Elon Musk’s brother, Kimbal Musk, via the Million Gardens Movement. Together, the two teams hope to tackle food shortages around the world.
These real-world uses of Floki Inu make it stand out from the rest of the memecoins on the market. These features can also aid Floki Inu to grow in value massively over the next few years.
Is Floki Inu the New King in Town?
Over the last few months, Floki Inu has seen huge growth in its value. The token also stands out from the other competitors due to its unique features. So, it has a great opportunity to develop into the best memecoin out there.
But just like any other cryptocurrency, it is important to note that the value will go up and down periodically. For investors, it is important that they take note of all the risks before investing in the market.