Floki Inu (FLOKI)

Discover the basics of Floki Inu and find links to beginner-friendly guides that show you the best way to invest in it.
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Updated: Nov 22, 2022
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About Floki Inu

What is Floki Inu?

Floki Inu is a meme cryptocurrency launched on the back of the success seen from similar coins like Dogecoin and Shiba Inu. The project was launched in 2021, shortly after Elon Musk announced on Twitter he would be naming his pet Shiba Inu puppy, ‘Floki’. Despite starting as a joke, Floki does provide some utility.

FLOKI is partnered with the Million Gardens Movement, a charity founded by Elon Musk’s broker, Kimbal Musk. The coin’s creators aim to tackle food insecurity around the world while also building schools in less developed countries.

How does Floki Inu work?

Floki Inu was launched on both the Ethereum and Binance Smart Chain blockchains. It works by storing transaction on the blockchains. Every transaction that takes place on the Floki Inu network is recorded and verified by other users known as validators. For their work in verifying transactions, validators are rewarded with FLOKI tokens.

How is the Floki Inu network secured?

FLOKI is a multi chain coin and operates on both Ethereum and Binance Smart Chain. Both blockchains use a proof of stake model which means other users validate transactions on the network. To become a validator, users must hold a certain number of tokens, which is designed to make the system less prone to security breaches.

Additionally, holders of Floki Inu coins use wallets to safely store their crypto. Wallets can only be accessed by private keys, which are long numbers known only to the owner, thus providing another layer of security.

What is Floki Inu used for?

Floki Inu is a slightly different from most meme coins that have little use other than speculation. Not only is it working with the Million Gardens Movement charity, it has partnered with digital marketplaces such as CryptoCart and Curate where FLOKI tokens can be used to buy physical goods from over 1500 online stores.

As Floki is built on Ethereum and BSC, it provides smart contract capabilities for decentralised finance services and works with two DeFI platforms, Inverse Finance and BarnBridge. However, while Floki Inu does provide some real world use, it is still a meme coin that produces a lot of volatility, which makes it a popular coin to speculate on.

Why does FLOKI have value?

FLOKI’s value and potential will depend on its ability to develop its real-world applications in the future. It currently has an NFT gaming metaverse called Valhalla, a NFT marketplace called FlokiPlaces, and an education platform called Floki Inuversity. It also has a number of partnerships and it can be used as a means of payment aswell as providing decentralised financial services. If it’s able to see out its plans, then its coin will likely become more valuable.

Floki Inu is also a hyper-deflationary token which means that as time goes on, fewer coins will be available, which should increase its demand as its supply falls. Another feature that makes the token valuable is investors can earn passive income by simply holding the coin. When a transaction takes place on the ETH or BSC blockchains, a small percentage is awarded to the token holders.

Who created Floki Inu?

Floki Inu was created following a tweet from Elon Musk stating that he was adopting a Shiba Inu puppy that would be named Floki. Following Musk’s tweet a team of crypto influencers and developers created the Floki Inu network. This included: B Peta, Byte Capital, Sabre, Mr Brown Whale, and Jackie Xu.

Where can I buy Floki Inu?

You can buy Floki Inu on a decentralised crypto exchange. A decentralised exchange (DEX) is a platform where you can swap one cryptocurrency for another.

To use a DEX, you need to own some cryptocurrency already. You can get this from a crypto exchange. You must also have your own dedicated crypto wallet that you can use to transfer money to a DEX.

Are there any other ways to invest in Floki Inu?

The simplest way to invest in Floki Inu is to buy it outright. However, another option is to simply open a crypto account. Crypto accounts are like regular bank accounts and allow you to store a variety of currencies, send and receive payments, earn interest on savings, and spend freely with a credit card.

More about FLOKI

What is the Floki Inu price today?

The FLOKI price is currently $0.000007705, as of October 2022. The price of Floki Inu is down 98% from its all time high in November 2021. You can use the live Floki Inu chart to track the FLOKI/USD price in real time above, or compare the Floki Inu value today to its past performance using the Floki Inu price history tab at the top of this page.

What is the price prediction for Floki Inu?

The average Floki Inu price prediction values the coin at $0.000023 by the end of 2025. Things like the economic climate, establishment support and acceptance, and the crypto market as a whole can all have an impact on the price. Floki’s price can also quickly change if Elon Musk tweets about it and it is best to take predictions with a grain of salt.

What is the total supply of FLOKI?

The circulating supply is 9,317,916,812,163 FLOKI, out of a total maximum supply of 10,000,000,000,000 FLOKI.

Are there any Floki Inu alternatives?

There are lots of meme coins available and most of them are more about speculation rather than offering anything useful. That being said, some meme coins like FLOKI do offer some utility and below you can find the best Floki Inu alternatives.

  • Dogecoin. Dogecoin is the best known meme coin and Elon Musk often tweets about it.
  • Shiba Inu. Shiba Inu is another dog based coin also known as the Dogecoin killer.
  • Baby Doge. Baby Doge is Dogecoin’s ‘son’ and has a faster transaction speed.

More crypto guides

FAQs

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Latest Floki Inu price analysis >


Sources & references
Risk disclaimer

Invezz is a place where people can find reliable, unbiased information about finance, trading, and investing – but we do not offer financial advice and users should always carry out their own research. The assets covered on this website, including stocks, cryptocurrencies, and commodities can be highly volatile and new investors often lose money. Success in the financial markets is not guaranteed, and users should never invest more than they can afford to lose. You should consider your own personal circumstances and take the time to explore all your options before making any investment. Read our risk disclaimer >

Prash Raval
Financial Writer
When not researching stocks or trading, Prash can be found either on the golf course, walking his dog or teaching his son how to kick a… read more.