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Best Crypto to Watch This Week: Floki Inu

·3 min read

There is a new meme coin in town. Floki Inu (FLOKI), which was inspired by Elon Musk’s Shiba Inu puppy, has hit the ground running in the cryptocurrency industry since launching over the summer. It is surely one to watch closely as meme coins have a habit of becoming movements in a flash.

Surely the Floki Inu community is looking to play on the success of other meme coins. One of the FLOKI community’s marketing strategies targets investors who may have missed the boat with Dogecoin, the original meme coin. Dogecoin’s value has ballooned in value this year, thanks largely to the support of Musk himself. Dogecoin’s use case as a payment method has been especially successful.

Floki Inu has an advantage of its own. According to the project’s website, the team has partnered with the Million Gardens Movement, which is spearheaded by Elon Musk’s brother, Kimbal. The crypto project and Kimbal have a mission to “tackle food insecurity in the world.”

A Shiba Inu Japanese breed dog named Doge is the mascot of the Dogecoin project. If Floki Inu manages to replicate Dogecoin’s success, it will pay off nicely for investors. The FLOKI project is off to a solid start with 100,000 holders, according to the project’s Twitter account. In fact, the Floki Inu team bills the project as the “third-biggest meme-coin after Dogecoin and Shiba Inu.”

Source: Floki Inu on CoinMarketCap
Source: Floki Inu on CoinMarketCap

More Than a Fad

The Floki Inu team intends for the new meme coin to be more than just a fad and to have several use cases. In fact, they call it a “utility-focused meme coin” that boasts a “massive community” and “solid utility.” One of the ways they are doing this is by jumping on the non-fungible token (NFT) bandwagon. The FLOKI community is known as the Vikings.

On the FLOKI roadmap is an “NFT gaming metaverse” that the team calls Valhalla. NFTs have caught on like wildfire among crypto investors and artists alike. Catching the tailwind from the excitement of both meme coins and NFTs is a strategic move that could pay off for the project and its investors.

The Floki Inu team is also creating an NFT and merchandise marketplace that they call FlokiPlaces. To that end, they are looking to bolster the meme coin’s use case as a payment method. So far, they’ve teamed up with CryptoCart and XCUR, a partnership that gives FLOKI holders the ability to make purchases at 1,700 merchants.

Token Goals

The Floki Inu team has the ambitious goal to “flip Carano and become a top 10 crypto project.” They will have their work cut out for them, as FLOKI is currently ranked as No. 2,768 on CoinMarketCap.

Investors can purchase FLOKI on decentralized exchanges Uniswap or PancakeSwap. They say the slippage is 10%. The meme coin is also available on centralized exchanges including Gate.io and LBank in the FLOKI/USDT pair.

This article was originally posted on FX Empire