Hong Kong’s Securities and Futures Commission labeled Floki and its staking program a suspicious investment product.
Dogecoin, Floki Bullish Bets Rise on X Payments Speculation
The dog-themed tokens have a tendency to move on any payments-related development at X (formerly Twitter).
Crypto Traders Are Earning 165% Yields By Staking a Token Named After Elon Musk’s Pet
Developers are trying to capture a piece of the global asset tokenization market as part of a new product in the Floki ecosystem.
Bitget Embroiled in Bitter $10M Dispute With Floki Over TokenFi Memecoin Listing
Cryptocurrency exchange Bitget is under intense scrutiny over its handling of the listing, and subsequent delisting, of a memecoin related to Floki Inu.
Floki Inu (FLOKI) Claps Back: Counters Bitget’s Claim Of Breaching 7-Day Listing Deadline
Recently, the cryptocurrency community has witnessed a heated dispute between the protocol Floki Inu (FLOKI) and the crypto exchange Bitget.
The controversy arose following Bitget’s listing of TokenFi (TOKEN) and subsequent accusations of market manipulation, unauthorized listing, and insufficient solvency.
Bitget Faces Allegations Of Market Manipulation
On October 27, 2023, Bitget announced the listing of TokenFi (TOKEN) in the Innovation Zone of its Spot market. Shortly after the trading service for TokenFi commenced, significant price fluctuations were observed, prompting suspicions of market manipulation.
Concerns were further raised when it was discovered that TokenFi’s project team had contributed less than $2,000 worth of tokens to the liquidity pool of decentralized exchanges (DEXes), suggesting potential manipulation of initial liquidity.
Moreover, an investigation of the TokenFi project uncovered additional issues, including an “opaque” token economy and an unclear vesting schedule.
In light of these findings and to safeguard their users, Bitget decided to delist TokenFi (TOKEN) and initiated a buyback plan for users who held the token on its platform.
Floki Inu, responded strongly to the exchange’s actions, alleging that Bitget had violated their agreement not to list TOKEN until seven days after its launch.
The meme coin protocol claimed to have had conversations with “several Tier 1 exchanges” and respected parties in the cryptocurrency industry. While these exchanges had expressed interest in listing TOKEN earlier, they agreed to honor Floki Inu’s request to wait for the stipulated period.
However, Bitget, which, according to Floki Inu, was “the smallest exchange” among those involved, allegedly announced the listing of a fake version of the TOKEN token just 12 minutes before the official launch on the blockchain.
Floki Inu further asserted that Bitget had engaged in “deceptive trading practices,” manipulating TOKEN’s volume without evidence of holding the actual tokens.
The protocol alleges that Bitget’s initial announcement had even stated that withdrawals would open 24 hours after trading began, potentially indicating an attempt to manipulate the token’s price. However, the market response did not align with Bitget’s expectations, resulting in a significant financial loss.
The situation escalated when users began reporting difficulties in withdrawing TOKEN from Bitget’s platform, with some users allegedly being banned for complaints. Floki Inu claimed to have contacted Bitget to address the issue, but the response was unsatisfactory, including a request to report liquidity issues to Bitget’s support team.
Floki Inu Alleges Bad Faith
Following subsequent discussions between Floki Inu and Bitget, it was revealed that Bitget required up to 1 billion TokenFi tokens to meet user withdrawal demands and cover their financial deficit. According to Floki’s response, this amounted to approximately 10% of TokenFi’s total supply, equivalent to around $20 million at the time of Bidget’s statement.
Furthermore, the protocol accused Bitget of acting in “bad faith” and attempting to resolve the situation through an over-the-counter (OTC) deal at a deeply discounted rate.
The proposed discount of 90% from the market price raised concerns, as it was argued that Bitget should bear the responsibility for its actions and the resulting financial shortfall.
In response to Bitget’s announcement of delisting TokenFi and accusations of market manipulation, Floki Inu disputed the claims made by Bitget. They asserted that Bitget had listed the token against their explicit instructions and falsely accused the Floki Inu team of price manipulation.
Floki also challenged Bitget to provide verifiable evidence of their TOKEN and FLOKI holdings, expressing concerns about Bitget’s overall solvency and risk management practices.
Ultimately, the protocol cautioned its users against trading or holding FLOKI on Bitget, citing the “troubling patterns” witnessed during the TokenFi incident. As the situation develops, the cryptocurrency community awaits further clarification and resolution regarding the allegations and the impact on affected users.
Given these developments, FLOKI has experienced a retracement of over 9% in the past 24 hours and is currently trading at $0.00003250. Nonetheless, the token has seen an impressive 85% increase over the past fourteen days.
Featured image from Shutterstock, chart from TradingView.com
Bitget, Floki teams accuse each other of manipulation after token listing
The teams for crypto exchange Bitget and Web3 protocol Floki blamed each other for allegedly misleading investors.
Bitget, Floki teams accuse each other of manipulation after token listing
The teams for crypto exchange Bitget and Web3 protocol Floki blamed each other for allegedly misleading investors.
FLOKI Outmuscles Top 100 Cryptos With 134% Price Explosion – Details
FLOKI, in the dynamic and continually evolving world of cryptocurrency, stands as a noteworthy contender, demanding serious consideration within the distinctive and inherently speculative market of meme coins.
FLOKI, a cryptocurrency that draws inspiration from Elon Musk and derives its name from his Shiba Inu companion Floki, has exhibited a notable surge in value, with a 26% price appreciation observed over the course of the past 24 hours.
At the time of writing, FLOKI was trading at $0.000038, and registered a commanding 134% increase in the last seven days, surpassing today’s top 100 roster of cryptocurrencies, according to data by crypto market tracker Coingecko.
The recent increase in value aligns with the forthcoming introduction of FLOKI’s eagerly awaited staking initiative scheduled for October 27, 2023.
We will be launching the $FLOKI staking program on the 27th of October, 2023.
To ensure a sustainable staking program, we will also be launching a sister token that #Floki stakers will earn as rewards. This token is a utility token that targets an industry with trillion dollar… pic.twitter.com/VRWJKUFeLd
— FLOKI (@RealFlokiInu) October 25, 2023
The Role Of Staking In Cryptocurrency
Many people in the cryptocurrency industry and among FLOKI’s investment base are looking forward to the next staking project.
Staking is a key component of blockchain technology, enabling cryptocurrency holders to support network security and maintenance while earning rewards by locking up their assets.
This active participation benefits both the blockchain’s stability and stakers, who receive passive income in the form of new tokens or transaction fees. Staking encourages long-term commitment and community engagement in the cryptocurrency space.
FLOKI’s recent 26% single-day price spike enabled the meme coin to tally a high not seen in several months and entering a price range between $0.00003235 and $0.00003500.
To keep this positive trend going, the meme coin needs to surpass the $0.00003368 mark. If it manages to do so, it might continue climbing and reach the $0.00003501 mark, or in a very optimistic scenario, even go up to $0.00004000.
The Hype Around FLOKI Staking Launch
The staking launch offers FLOKI holders an opportunity to accrue further FLOKI incentives solely by retaining ownership of the token. It is not surprising that FLOKI prices have experienced a significant increase in value due to the anticipation around its upcoming introduction.
The forthcoming launch event will additionally provide pertinent information regarding its affiliated digital asset, TokenFi, denoted by the ticker symbol $TOKEN. Consequently, this development is expected to generate significant anticipation for the aforementioned meme token, leading to a substantial increase in its market value.
Meanwhile, Coincodex forecasts that by October 27 the price of Floki Inu will have dropped by 7.26 percent, to USD 0.00002352. The Fear & Greed index is currently at 53, which is neutral despite the bullish signals from the technical indicators.
Based on Floki Inu’s past price patterns, we can estimate that it will be worth as little as 0.00002205 USD in 2024, and as much as 0.00005826 USD in 2025.
(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).
Featured image from Shutterstock
FLOKI price soars 140% in a week — Are memecoins like DOGE, PEPE finally waking up?
FLOKI’s gains coincide with the launch of its tokenization platform, TokenFi, but is the rally sustainable?
Floki Pounces on Trillion Dollar RWA Narrative With New TokenFi Platform
“The tokenization industry is projected to be a $16 trillion industry by the year 2030,” Floki lead developer ‘B’ told CoinDesk in a Telegram message
Floki Developers Propose Staking and Utility Token Plans
The move could help amp up investor interest in FLOKI tokens, which form part of the Floki DAO ecosystem.
Which Top Meme Coins Have Held Their Value Best Amid The Crypto Market Crash?
The performance of the top meme coins in the space has mostly mirrored the broader market crash triggered by Bitcoin’s decline toward the $25,000 level. However, while all of these digital assets have suffered losses during this time, some have held up better than others, leading to fewer losses on their part compared to their competitors.
Baby Doge Coin (BABYDOGE) Leads Meme Coins
This meme coin has surprisingly seen the best performance following the crash compared to its counterparts. While most top meme tokens have recorded double-digit losses, Baby Doge Coin (BABYDOGE) managed to keep below the 10% loss level, coming in with only single-digit losses.
As data from the coin tracking website Coinmarketcap shows, BABYDOGE’s price decline over the last weeks came in 5.97%. This is in stark contrast to others that have come in above 10%, making BABYDOGE the meme token that has held its value best through the crash.
Dogelon Mars (ELON) Performs Well
Dogelon Mars (ELON) is another meme coin that has put up a tremendous fight against the bears in the last week. Just like BABYDOGE, the token came in with 10% losses in the last week, although by a much narrower margin.
The meme token is down 7.85% on the weekly chart, showing impressive resistance. And unlike BABYDOGE which is up 0.63% in the last day, Dogelon Mars (ELON) is seeing losses of 3.35% during this time period, putting it on par with other meme tokens struggling on Wednesday.
Dogecoin (DOGE) Holding Firm
While Dogecoin saw significant losses following the crypto crash last week, the leading meme coin has held its own, with its losses currently falling below 10%. DOGE’s losses on the weekly chart came out to 9.76%, ranking it third when it comes to meme tokens that have held their value.
Following in the same step as BABYDOGE, Dogecoin is starting to see gains on the daily chart. The cryptocurrency is seeing small gains of 0.61% at the time of this writing. Nevertheless, with a market cap of $8.9 billion, it remains the largest meme coin in the industry.
How Other Meme Coins Are Doing
The three meme coins listed above are the only meme tokens that have seen losses below 10%. Others such as Pepe (PEPE), Shiba Inu (SHIB), FLOKI (FLOKI), and Bone ShibaSwap (BONE) have all performed way worse with losses of 15.71%, 16.23%, 19.12%, and 21.18%, respectively.
However, some of these tokens are beginning to see a light at the end of the tunnel. Out of these, BONE and SHIB seem to be on a reversal trend, recording 2.36% and 3.51% gains, respectively, on the 24-hour chart.
PEPE, FLOKI, SHIB: Insiders Spill The Beans On Meme Coin Investing
Meme coins are currently the dominating trend on the crypto market once again due to PEPE. After the furious price rallye of PEPE, investors are feverishly looking for the next meme coin that makes 100x.
Whether this trend will continue for much longer or if this marks a top for the crypto market remains to be seen. However, historically, the meme coin hype marked local highs for the Bitcoin price (and thus the rest of the market).
Whales Reveal All About Meme Coins Like PEPE
In a new Twitter thread, Frank Rotman, co-founder QED Investors, spilled the beans about meme coins. QED Investors is a leading VC in the fintech space and has AUM of $3.2 billion. The company has already invested $662 million in startups. So Rotman is well connected and knows what he’s talking about.
In recent days, Rotman has spoken with traders who have put anywhere from $500 to more than $20 million into meme coins and “their views are eye-opening,” the venture capitalist says. The biggest insight was (although not shocking): Memes coins are a game.
The concept of the game, according to Rotman, is to attract as many other participants as possible to the list of game participants. “Your goal is to convince people that being on the list is cool.” Once people are on the list, they are expected to tweet funny images or diagrams to generate FOMO for the game.
However, the number on the list matters because members can sell new players as much or as little as they want, with prices fluctuating based on supply and demand. Ultimately, this proves that the founders and previous investors are the biggest profiteers from such a Ponzi scheme.
The answers Rotman has received are extremely revealing. Big investors are aware of the game. One anonymous person said:
It’s a damn fun game once you’re in it. You get to act like an idiot, annoy everyone around you and make silly money doing it. If it doesn’t work out then you try again. I know it doesn’t make any sense but it feels great when my money is doubling every day.
None of Rotman’s respondents believe that meme coins are a “thing of value.” Rather, they know that meme coins are a Ponzi scheme, which is often dismissed as “movement.” Moreover, as PEPE has shown, larger meme coin investors are out there to make a quick buck. Rotman stated:
It was obvious that every person I talked to was looking for quick gains. They wanted the dopamine jolt that comes with quick 50-100% movements. The volatility and the potential to 10X+ their money or lose it all quickly was a feature, not a flaw.
WAGMI?
According to the QED co-founder, smaller investors see meme coins as a chance to live the “we’ll all gonna make it” ethos while whales laugh at it. The goal of the whale traders is to stand behind a token long enough to drive demand and then use FOMO to provide their exit liquidity.
The big traders have well-formed views about where demand comes from, when it will come, and who’s going to be left holding the bag in the end.
One direct quote was: “If you don’t know where your exit liquidity is going to come from then you’re someone else’s exit liquidity. Nobody wants to hold these s-t coins forever. If you want a nice car you have to get good at hyping people up while you’re dumping.
At press time, PEPE appears to have found its top after the Binance listing. PEPE traded 56% below Friday’s all-time high.
Floki Inu Rallies 40% In 24 Hours: Here’s Why
We’re officially in the meme coin season as Floki Inu becomes the latest meme-based token to experience a significant price pump. The cryptocurrency inspired by Elon Musk’s Shiba Inu pup has long been considered as the next big memecoin and it appears to be living up to its hype. Floki Inu is currently up 40% in the past 24 hours and is the second-best performing crypto-asset during this period after the fast-rising Pepe token.
Floki Inu Benefiting From High-Profile Listings
This latest price surge can be linked to a series of high-profile listings by exchanges in recent days. Bitfinex was the first to announce the listing of Floki on May 3rd in a move that came out of the blue and surprised many in the crypto community. This was followed by Binance, the largest exchange in the world, disclosing on May 5th that it would be listing Floki alongside Pepe in its innovation zone, with users able to deposit as of May 5th.
The exchange further noted that it would begin trading the tokens on May 6th across four pairs: PEPE/USDT, PEPE/TUSDT, FLOKI/USDT, and FLOKI/TUSD. Binance also intends to permit borrowing on both assets and plans to add new margin pairs for FLOKI and PEPE on Isolated Margin in the next 48 hours. The Isolated Margin pairs include FLOKI/USDT and PEPE/USDT.
News of this listing caused significant excitement to the crypto community, which led to a positive market movement for both assets. PEPE achieved a new market high of $0.0000028, surpassing the $1 billion market cap, while FLOKI also increased by 60% within a few hours. During this period, Floki Inu has experienced increased trading volume as many investors look to purchase the token in anticipation of a bull run. The recent bull-run of PEPE, which has risen by 11,000% in less than a month, has spurred the hype for memecoins and Floki Inu appears to be the major beneficiary.
Related Reading: Former DoJ Kennedy Jr, Laments on Global Financial Censorship, Shows Support For Bitcoin
What’s Next For Floki Inu?
Floki Inu has gained a substantial following as a community-driven cryptocurrency that is looking to adopt a unique approach to decentralization. Its low transaction fees and suite of products, including an NFT metaverse game, the FlokiFi Defi ecosystem, the Floki University, and the NFT marketplace, have placed it high among crypto enthusiasts. In addition, the Floki team has always positioned the project as community-first and has made high-profile partnerships with sports clubs to gain adoption among mainstream crypto users.
Related Reading: BRC-20 Token Standard A Hotspot For New Memecoins As PEPE Soars
This latest price surge is expected to bring about renewed interest in the token that appeared to have stalled in recent months. It will be intriguing to see where this coin ends as the trend persists. Since Binance has already demonstrated support by listing it in the innovation zone, it won’t be long before other exchanges follow suit.
Featured Image From Zipmex, Charts From Tradingview
BREAKING: Binance Lists PEPE And FLOKI In Innovation Zone
Meme coins PEPE and FLOKI are finally making their way onto Binance after an impressive run. Both communities have in the past called for the crypto behemoth to list the tokens but the exchange has been quiet about possible listings, until now.
PEPE And FLOKI Make It To Binance
The world’s largest crypto exchange Binance has taken another step toward supporting meme coins as it announced new listings for two of the largest meme coins in the world. In a post on its official website, Binance revealed that Twitter’s new favorite meme coins PEPE and FLOKI will be listed in its innovation zone.
Trading for both of these coins will begin on Saturday, May 6, while deposits for both cryptocurrencies have already been opened as of Friday, May 5. Both meme coins are listed for spot trading across four pairs, including PEPE/USDT, PEPE/TUSDT, FLOKI/USDT, and FLOKI/TUSD.
Furthermore, the exchange revealed that it plans to also allow borrowing on both of these assets. The new margin pairs for FLOKI and PEPE will be available on Isolated Margin and Binance plans to add both of these in the next 48 hours. The Isolated Margin pairs include FLOKI/USDT and PEPE/USDT.
New Listings Trigger Price Rally
Binance posted the announcement on its website in the early hours of Friday and both assets have responded positively since then. PEPE rose to a new high of $0.0000028, crossing the $1 billion market cap, and FLOKI is up 60% in the last day as well.
The listings have also sparked a flurry of new activity in both communities, resulting in higher trading volume for both assets. However, while both PEPE and FLOKI hit a milestone with this listing, the win is really for PEPE here, a meme coin that is less than one month old and has already risen over 25,000x.
As the trend continues, it will be interesting to see where this coin ends up. With Binance already showing support by listing it in the innovation zone, it will not be long until other exchanges follow suit.
Canine Crypto Coins Jump After Elon Musk Sends DOGE-Themed Tweet
Doge, Floki and SHIB are up, while BONK is flat after Musk declares his dog Floki is an amazing CEO of Twitter and “better than that other guy.”
Meme Coin Wars – Floki Inu Vs. Dogecoin And Shiba Inu – Who Wins?
There’s an ongoing meme coin war and it pits a lesser known coin against two other well-entrenched cryptos in the space today.
- FLOKI is a crypto based on Elon Musk’s dog that has the same name
- Floki Inu’s market cap is less than $1 billion
- The crypto has been on a decline after it bottomed in June 2022
Floki Inu (FLOKI), a meme crypto that was inspired by the dog of self-proclaimed “Dogefather” Elon Musk, is aiming to surpass Dogeoin (DOGE) and Shiba Inu (SHIB).
That could prove to be easier said than done as it is losing to its fellow dog-themed cryptoccurencies in several battlefronts.
Total market capitalization is one of these aspects and Floki Inu’s is worlds apart compared to DOGE and SHIB.
Of the three, Dogecoin has the highest market cap, valued at $8.4 billion. Its spin-off token is somehow keeping up as Shiba Inu’s total capitalization stands at a little over $6.5 billion.
FLOKI finds itself in a distance that is very far from the two, as its market cap is only $70.2 million.
In terms of current trading price, DOGE leads the pack. At press time, according to CoinGecko, it is trading at $0.062. SHIB is changing hands at $0.00001109 while FLOKI is at $0.00000754.
Along these lines, Floki Inu needs to grow its market cap 100x just to surpass Shiba Inu. But even after that, Dogecoin will still prove to be a bigger challenge for the crypto.
FLOKI Price Action At A Glance
Even with Floki Inu’s minimal value, it ended up being one of the casualties of the recent bearish streak that plagued the crypto space.
Its price action chart shows the coin bottomed in June 2022 when it reached $0.0000048433 before making an impressive bullish rally, increasing its value by 270% to trade at $0.0000178931.
Source: TradingView.com
However, FLOKI wasn’t able to sustain that run and gain, as it tipped below the crucial $0.0000135356 mark. Since then, it continued to decline and hasn’t been able to make any kind of recovery.
The altcoin is in a precarious position as falling from its support level of $0.0000075326 will mean downward price trend that will send it to another bearish rally.
Floki Inu: Origins And Immediate Goals
Shortly after Elon Musk announced he was naming his dog Floki, an unidentified team worked on the digital currency sharing the same name and eventually launched it.
The Ethereum Blockchain-based Floki Inu was abandoned by its original developers after realizing there was an inflation bug in its initial token contract.
The Floki community did not give up on the asset and formed a team that revived the crypto which they claim is unique compared to other meme coins as it is capable of combining memes and utility.
True enough, the Floki Inu token is actually used to run the metaverse game known as Valhalla.
As for its immediate goals, FLOKI’s marketing chief said over the next year, they’ll have more utility and holders than SHIB.
Meanwhile, it will be interesting to see whether a new meme coin emerges to go head-to-head with Dogecoin and Shiba Inu in the coming bull market.
Will FLOKI muster enough firepower to beat DOGE and SHIB?
SHIB total market cap at $5.99 billion | Featured image from Watcher Guru, Chart: TradingView.com
Floki Inu resumes controversial ad blitz in London
The new campaign spanning buses and train stations across the city comes only a few weeks after regulators banned the previous ads from a marketing run Floki Inu conducted in 2021.
Floki Inu Bark Attracts BSC And Ethereum Whales – Can It Go Near $0.001?
Dog-themed meme currency Floki Inu, named after Elon Musk’s Shiba Inu dog, is attracting Ethereum and Binance Smart Chain whales after receiving speculative market interest on Friday.
On social media, Shiba and Floki followers engage in a heated debate over an ad for their respective dog-themed cryptocurrency.
This may have been good news to FLOKI as Ethereum and BSC whales began to show interest in the cryptocurrency.
According to data aggregator portal WhaleStats, FLOKI is currently among the top 10 tokens acquired in the last 24 hours by 1,000 of the biggest ETH and BSC whales out there today.
Bearish Movement
Floki Inu is trading at $0.000038 on Friday, down 3.8%, with a low of $0.00003697 and a high of $0.00003967.
The crypto has a trading volume of $4,559,495 in the past 24 hours.
According to live market data, the asset price has been climbing in the last few months and has become a crowd favorite in cryptocurrency markets.
However, the crypto is showing bearish movement. In Friday’s intraday chart, market swings derail Floki Inu, leading to a negative trend.
Floki Inu Forecast
Based on market trends and analysis, the price of FLOKI has greater room to either rise or fall in the near future.
Although it has risen somewhat due to recent market trends, it is currently trading below the baseline.
Because of recent price declines, the current sentiment of Floki traders is “fear,” which, in the short term, could affect its price in a negative way.
Some market observers anticipate the price of Floki Inu to continue to drop in the coming days.
Related Reading | Floki Inu To Feature Its Logo On S.S.C. Napoli’s Match Stadium And Jersey
If support at $0.00004 is not broken, Floki may fall as low as $0.00003, if not lower.
If support at $0.00004 is not breached, Floki might rise as high as $0.00005 this month.
Considering the current price remains stable in the following weeks, Floki may see a positive breakthrough.
After all, the crypto is aiming for $0.001 once again.
10 Trillion Tokens
WalletInvestor’s optimistic stance on Floki Inu remains the same. The token is still seen as a profitable one-year investment by the platform.
According to its forecast, Floki prices might increase in percentage in the next five years.
If this is correct, a $100 investment in the crypto today might be worth $1,535.62 in February 2027.
As for DigitalCoinPrice, it predicts a lucrative year for the crypto.
Bullish price predictions are apparent due to its value stability which is seen to rise as the market activity of Floki Inu grows.
Meanwhile, Floki Inu has a colossal token inventory, with the creators confirming a maximum supply of 10 trillion tokens.
Its designers believe this is achievable since it outperforms other cryptocurrencies like Shiba Inu and Dogecoin in terms of utility.
Related Reading | Floki Shiba Meme Token Ranked Top Social Signal BSC DApp
Featured image from Yahoo! Finance, chart from TradingView.com
Floki’s logo to appear on league-topping SSC Napoli’s match jersey and stadium
As part of the sponsorship deal with SCC Napoli, the Floki Inu logo will be featured on the back of the football team’s jersey and across LED signs at the team’s home stadium.
