The name Floki Inu was invented in late 2016 by fans and community members. The name was inspired by the Shiba Inu breed by which Elon Musk called himself. After Elon Musk released this news, the concept of creating a cryptocurrency began to take form.
The asset will soon be listed with large exchanges such as eToro, which should have happened in 2022. It also is possible to purchase Bitcoin on such exchange to transfer it to Gate.io or Pancakeswap, where FLOKI is present, and begin to acquire Floki Inu.
Also Read: Meme Stocks: Tips And Tricks
Contents
- What is Floki Inu?
- Where to Purchase Floki Inu – The List of Best Platforms
- Facts to Consider Before You Buy Floki Inu
- Risks of Buying Floki Inu
- How is the Floki Inu Network Secured?
- Floki Inu Price Analysis
- Bottom Line
- FAQs
What is Floki Inu?
An ERC-20 and BEP-20 compliant token, FLOKI is a multi-chain coin that runs on the Ethereum and Binance Smart Chain (BSC) blockchains. Through atomic swap, users can quickly do a 1:1 FLOKI swap on the ETH-BSC bridge.
Surprisingly, there is a 3% tax on the purchase and sale of the Floki token (FLOKI), which would not apply to token bridging between the two networks. According to Floki Inu, the tax belongs to the Floki Inu project.
The treasury funds will be utilized to expand their ecosystem and promote FLOKI for wider usage. The white paper does, however, state that the tax will be reduced after Floki Inu has gathered sufficient assets, though no precise goal date or amount is mentioned.
Where to Purchase Floki Inu – The List of Best Platforms
To discover more about purchasing Floki Inu, create an account with a broker firm (FLOKI). Since Floki Inu (FLOKI) is registered on the Blockchain network, finding a broker with a connection to the blockchain is essential.
We'll examine Huobi, another centralized exchange, LBank, Pancakeswap, and eToro in more detail below:
Huobi Global
The greatest location to buy Floki Inu right now is Huobi, which listed FLOKI on March 2nd, 2022. It is a cryptocurrency trading platform, established in China in 2013. It offers worldwide cryptocurrency trading services for its clients.
It immediately established itself as a pillar of the blockchain community and one of China's leading cryptocurrency trading platforms. Since regulatory constraints started in China, it operates from Hong Kong, South Korea, Japan, and the US.
Huobi is a user-friendly option for people wishing to buy Floki Inu with fiat money. It lets you buy cryptocurrency with a debit card, bank transfer, and other payment options. Along with FLOKI, it supports more than 400 coins.
The only trading pair for FLOKI currently available is FLOKI / USDT. Users in the US are forwarded to HBUS, the Huobi version targeted at US users.
LBank
Another Hong Kong-based cryptocurrency exchange is LBank, which was established in 2016. It provides clients worldwide with the option to invest in a range of cryptocurrencies, including Lucky Block, and it also provides cryptocurrency asset management services.
In September 2021, Floki Inu was listed by LBank. Since then, it has gained popularity among those looking to use their crypto assets to invest in Floki Inu and other meme coins.
The chart below will familiarize traders who perform technical analysis (TA) using Tradingview's technical indicators. All Tradingview indicators are incorporated and available for free use, similar to Huobi.
Lbank does not accept fiat money because it is only a cryptocurrency exchange. Fortunately, it compensates for this by supporting 40 different cryptocurrencies and is constantly adding new ones at predetermined intervals. LBank charges about 0.1% for every trade, a comparatively cheap trading cost.
The bank has not had a breach or money loss since its launch in 2016. It uses the newest security technology, such as SSL-encrypted servers, cold and hot crypto wallet storage for cash use, and two-factor authentication for login.
Pancakeswap
PancakeSwap is one of the greatest decentralized exchanges, with a 24-hour trading volume of more than $100 million. It was introduced in 2020, and because of its straightforward-to-decentralized design, it quickly surpassed Binance DEX, its closest rival, in popularity within the crypto community.
As a completely decentralized site, it runs on cryptocurrency. You must connect your Metamask or other crypto wallets and use your cryptocurrency assets to purchase FLOKI on Pancakeswap.
Also Read: How to Use Pancakeswap
Facts to Consider Before You Buy Floki Inu
Luckily, we have some factors to explore if you want to buy Floki Inu and make it your next major crypto investment.
Increasing Crypto Education
According to experts, most crypto coins function less like currencies and more like educational projects, attempting to raise knowledge about the blockchain ecosystem before you purchase Floki Inu.
According to current statistics, just 300 mill
ion users worldwide are interested in cryptocurrency, accounting for 6% of the overall internet-using population. As a result, it is easy to conclude that there is a need to raise awareness on this subject.
Advertising Collaborations and DeFi
To become more relevant in the real world, Floki Inu has started collaborating with organizations outside the blockchain. It recently partnered with SSC, an Italian football team, to incorporate FLOKI's emblem into its uniforms and stadium.
Additionally, in order to buy Floki Inu, Inverse Finance has partnered to deliver DeFi to hundreds of thousands of cryptocurrency owners. The FLOKI Vikings, a term used to refer to holders of FLOKI tokens, would be able to bet and borrow against their tokens thanks to this cooperation.
The meme cryptocurrency asset has continuously promoted collaborations to deliver improvements to draw in both newcomers and seasoned blockchain professionals.
Integration of the Metaverse
It's nothing new for coins and NFTs to be rushing into the Metaverse. Few, though, have established a more solid road toward it. One of them is Floki Inu. Valhalla, a metaverse game powered by the $FLOKI token, seeks to change the blockchain paradigm by bringing improved play2earn mechanics.
As acceptance grows, Valhalla will withdraw a large number of $FLOKI tokens from circulation and inject them into the ecosystem. After you buy Floki Inu, you can acquire in-game assets like weapons, lands, and ships and customize their characters.
Floki Inu Tokens are already popular on social media, and with the hype surrounding the Metaverse, they may become much more popular in the future.
Buy Floki Inu Safely
Cryptocurrencies have their risks. Floki Inu (FOKI) is no exception. So don't let the fear of FOMO influence your investments. You must research your investment before investing your money in an online or offline store.
Firstly, conduct thorough research: If you want your investment to make a profit, ensure it does not involve risks. We've explored several different methods for this: Monitor market: Monitor the market to understand better what you are purchasing. The same thing must be true with markets that change their direction. Reviews and recommendation sites offer the easiest method of keeping an eye on the market.
How Much Does It Cost to buy Floki Inu?
About three months ago, meme coins were released. It has grown more than 2000% during its first two-year period. A corresponding price of $0.000004 is expected to reach its highest point when writing.
The rumors are that Floki gained popularity after Elon Musk recently tweeted Floki with the caption “Floki Frunkpuppies” The coin also attracts risky market participants. The unique rewards system of the company allows holders to earn by simply putting the coins in their pockets. In the last two days, Floki Inu's price has risen substantially.
Risks of Buying Floki Inu
Traders have got to learn the best way to defend their money in emergencies. The following guidelines can help minimize your potential risk and help protect your investment portfolio. Identify financial instruments strategically to mitigate a negative price swing. Investors hedge their investments with exchanges.
Use Stop Loss: Investors may use a stop-loss rule to reduce loss resulting from bad investment decisions. If you use stop-loss orders, you do not need to monitor your weekly holding amounts. Stop loss is the best friend for investors. Please follow these rules!
How is the Floki Inu Network Secured?
FLOKI project is an Ethereum-based ERC20 token and BEP-20 token. ERC-20 is Ethereum's standard for storing and transferring new digital currency tokens. Ethereum is a crucial blockchain and is an excellent platform for developing centralized applications.
It uses proof-of-work consensus for mining new even to ensure Ethereum's safest blockchain. Various centralized nodes validate the transaction and secure the Ethereum blockchain. The BSC's security relates to proof-of-stakes consensus. Each day, 21 validators are selected to check a transaction's validity.
Floki Inu Price Analysis
Let us look at FLOKIs price charts to understand its investment potential. Floki Inu's current value is $0.000029. During the same period, the stock had traded at an estimated $12.7million. Floki Inu's shares fell 9.24% during the past 24-hour period. T
Floki Inu price prediction suggests its price has currently dropped by 886 on CoinMarketCap. Folkie coins have up to 10 million circulations. Floki Inu has been taking the price trend since launching:
Let us now examine the pricing pattern of Floki Inu since its launch:
- Floki Inu will be released in July 2021. And the price at the moment of its commencement was $0.000004087. Within the next few hours, it increased somewhat but significantly, reaching $0.000005465.
- It followed a quick rise and decrease trend over the next few months, similar to other cryptocurrencies. The price then surged to $0.00029 on October 30th, 2021.
- The price was consolidated for several days, ranging from 0.00027 to 0.00023.
- On November 4th, 2021, the Floki Inu price finally crossed the 0.0003 threshold and soared to $0.003539, an all-time high.
Since then, it has been on a downhill trend, with various peaks and dips along the way. By 2023, the price of Floki Inu had dropped to $0.0001069.
The coin reached an all-time low of $0.00001643 on January 27th, 2021. Although it made the market uneasy for a brief moment, it did reinforce certain cynical notions about the coin.
Floki Inu's current price displays new sideways trading levels, making it a good market for those looking to enter the blockchain field at a modest cost.
Bottom Line
Although Floki Inu has a sizable fan base, it hasn't yet experienced an explosive surge or surpassed the prices of many other meme coins like Dogecoin and Shiba Inu. Floki Inu might be featured this year since they have already been posted on eToro.
If you're wondering where to buy Floki Inu right now, Huobi, PancakeSwap, or LBank. Lucky Block (LBLOCK) allows their clients to invest in this crypto asset.
FAQs
Can I buy Floki on Binance?
Being a new coin, Floki hasn't been listed on significant exchanges like Binance.
Is Floki Inu on Coinbase?
Coinbase does not yet support Floki Inu but does support Dogecoin and Shiba Inu.
Where to buy Floki Inu?
Huobi Global and gate.io are the most prominent exchanges to purchase Floki Inu.
Is Floki Inu a good investment?
Floki Inu can be an excellent choice if you want to make a high-risk, high-reward investment with a well-known meme coin. It might not be ideal to invest in Floki Inu if your goal is to fund ground-breaking blockchain initiatives that will influence DeFi's future.
