CoinMarketCap lists FLOKI’s total supply at 10 trillion

By: Ali Raza
Ali Raza
Ali plays a key role in the cryptocurrency news team. He loves travelling during his spare time and enjoys… read more.
on Jan 22, 2022
  • The total supply for FLOKI has been verified by CoinMarketCap.
  • CMC acknowledged a 10 trillion token burn, with the total supply now standing at 10 trillion.
  • Floki Inu’s price has failed to recover from a dip despite the news.

The Floki Inu meme coin is gaining more transparency and legitimacy, with the latest factor contributing to this being the verification of the meme coin’s supply on CoinMarketCap. This makes Floki Inu (FLOKI/USD) among the top cryptocurrencies to be verified by the tracking platform.

Floki Inu has been making headlines in recent months, and despite being a new meme coin in the market, it has attracted much interest due to the rigorous marketing tactics used by the team.

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CoinMarketCap verifies FLOKI

In a tweet, Floki Inu stated, “Breaking! The world’s number 1 crypto asset tracking website @CoinMarketCap has verified the #FLOKI market cap!… This update further legitimized $FLOKI and ranked us among the top cryptocurrencies in the world.” 

Earlier this month, Floki issued a statement regarding the Floki maximum supply listed on CoinMarketCap. The team stated that CoinMarketCap failed to acknowledge a burn that removed 10.65 trillion FLOKI tokens from the maximum supply.

The issue has since been resolved by CoinMarketCap, with the current data showing that the maximum supply for FLOKI is 10 trillion tokens. The price-tracking platform has also noted that the total supply stands at 9,140,260,384,232.

According to the data on CMC, the total diluted market cap for FLOKI stands at $426,056,918. However, despite this development, the market cap has fallen by over 14% during the past 24 hours.

On the other hand, the price of FLOKI has dipped by 15.31% during the past 24 hours, and it was trading at $0.0000426 at the time of writing. The dip has been witnessed across the broader market, with the global cryptocurrency market cap sitting at around $1.6 trillion at the time of writing.

FLOKI’s rising popularity

This development comes amid growing popularity for Floki Inu. The coin has made notable gains in just a few months of launch. While it is yet to gain any use cases or be listed on major exchanges, the developers note that FLOKI could dominate the meme coin space due to its deflationary nature.

FLOKI’s marketing has appeared in the London public transport sector and Dubai’s Burj Khalifa. However, the London ad resulted in a regulatory crackdown, with advertising regulators noting it was misleading.

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