Floki inu price prediction: What’s next for FLOKI?
It may be one of the myriad memecoins in the crypto space, but exactly what is floki inu (FLOKI)? Let's take a look and see what we can find out, and also examine some of the floki inu price predictions that were being made on 7 March 2023.
FLOKI to USD
Floki inu explained
One of the surprise stories of the crypto boom of early 2021 was the success of dogecoin (DOGE). Despite being set up as a parody of crypto, DOGE did as well as anyone during the bull market, boosted by the support of Tesla boss Elon Musk. Dogecoin's popularity spawned the shiba inu (SHIB) token, which was basically a parody of a parody, which in turn opened the floodgates for a whole raft of new memecoins, which could well be described as parodies of a parody of a parody.
Floki inu, another dog-themed memecoin, is an ERC-20 token, which means it exists on the Ethereum (ETH) blockchain. Its whitepaper says: “Not a meme coin. IT’S A MOVEMENT. A new cryptocurrency birthed by fans and members of the Shiba Inu community.”
Floki inu is named after Elon Musk’s very own Shiba Inu.
My Shiba Inu will be named Floki
— Elon Musk (@elonmusk) June 25, 2021
Three months later, Floki – the dog, not the coin – arrived.
Floki has arrived pic.twitter.com/2MiUKb91FT
— Elon Musk (@elonmusk) September 12, 2021
The Floki inu token – and, since it is based on Ethereum, it is a token, meaning references to such things as a "floki inu coin price prediction" are wrong – network aims to be accessible and have a strong meme culture. The token’s ideals form three pillars: The Meme, Utility and Charitability.
The Meme: The makers believe that memes are for everyone and appeal to all ages, gender,and financial verticals.
Utility: The utility roadmap gives the crypto strong fundamentals and mainly encompasses three utility projects: Valhalla, FlokiPlaces and Floki Inuversity.
Charitability: This plays a role in the token’s aim to “cross through divides, race, and borders to help make life easier for the average Joe”..
Valhalla is a Play-To-Earn, NFT gaming metaverse, or an online virtual world.
The FlokiPlaces online marketplace aims to help people purchase physical goods with cryptocurrency easily, with floki tokens used for payment.
Additionally, in an apparent attempt to increase cryptocurrency and blockchain understanding, the Floki Inuversity will act as “the premier cryptocurrency education platform”, according to the organisation, for want of a better word, behind the token.
Floki inu price history
Let's now take a look at the FLOKI price history. While past performance should not be taken as an indicator of future results, knowing what the token has done can help give us some context if we want to either interpret a floki inu price prediction or else make one of our own.
On its launch day on 10 July 2021, FLOKI was worth $0.00000361 and didn’t see very much movement. It declined soon after, affected by the aftermath of the crypto day crash of 19 May. Floki rebounded in the subsequent months. On 30 July it was worth $0.00000594 – recording a rise of just over 100% in two days.
Floki opened at $0.00001686 on 12 September and rose by more than 117%, closing the day at $0.00003663. It reached a high of $0.00007023 on 16 September 2021 as seen on the Floki chart below.
On 27 October, floki inu climbed more than 89% from $0.00005621 to $0.0001066. Floki inu hit a high of $0.0003437 on 4 November 2021. It then fell but Floki’s sponsorship deal with Italian football giants Napoli helped it hit a record high of $0.0001941 on 24 November 2021.
The crypto surged more than 14% on 1 December after the company announced that the Floki logo would be displayed on Dubai’s Burj Khalifa building on 3 December at 8:40PM local time. It would become the first crypto project to run an advertisement on the historic building. However, after rising in price and trending on Twitter for days, Floki Inu crashed and closed the year at $0.0001.
It continued this downward spiral into 2022 as it wrestled with the bear market. FLOKI fell to a low of $0.0000056 on 18 June 2022, in line with the wider crypto crash.
The meme token has recovered slightly since this low and was trading at $0.0000074 as of 27 October. This rise came as Musk prepares to complete his $44bn takeover of Twitter, which saw DOGE and the rest of the memecoin sector surge.
In November, though, the collapse of the FTX (FTT) exchange saw the market collapse yet again, and FLOKI went with it, reaching a low of $0.000007307 on 19 November before closing the year at $0.000008148, representing an annual loss of more than 90%.
So far, 2023 has been a far better year for the token, and the combination of Elon Musk dubbing his dog the "CEO of Twitter" and FLOKI being available on the KuCoin crypto exchange saw it reach a high of $0.00006684 on 16 February. Since then, things have cooled off a little and, on 7 March 2023, the token was worth about
$0.000045. At that time, there were around 8.9 trillion FLOKI in circulation out of a total supply of 9.9 trillion. This gave the token a market cap of around $401m, making it the 95th largest crypto by that metric.
Floki inu price prediction round-up
With that all said and done, let’s take a look at some of the floki inu price predictions that were being made as of 7 March 2023. It is important to keep in mind that price predictions, especially when it comes to something as potentially volatile as cryptocurrency, very often turn out to be wrong. We should also point out that long-term price predictions are often made using an algorithm, which means that they can change at a moment’s notice.
First, CoinCodex had a rather downbeat short-term floki inu price prediction for 2023, saying it could drop to $0.00003359 by 12 March and continue its potential decline to $0.00003007 by 6 April. The site's technical analysis was, perhaps surprisingly, bullish, with 24 indicators sending bullish signals compared to just two making bearish ones.
DigitalCoinPrice made a rather more upbeat floki inu crypto price prediction. The site said it could reach $0.0000875 this year and its floki inu price prediction for 2025 suggested an average price of $0.000154. By the start of the next decade, the suggested it could achieve $0.000465.
PricePrediction.net made a FLOKI price prediction which said the meme token could reach $0.0000092 this year and $0.00002 in 2025. Its floki inu price prediction for 2030 gave an optimistic average price of $0.0001346.
On the other hand, WalletInvestor had a FLOKI price prediction that suggested things would not go well over the coming 12 months, with it potentially falling to just $0.000000376 by 7 March 2024.
When considering a FLOKI token price prediction, it’s important to keep in mind that cryptocurrency markets remain extremely volatile, making it difficult to accurately predict what a coin or token’s price will be in a few hours, and even harder to give long-term estimates. As such, analysts and algorithm-based forecasters can and do get their predictions wrong.
If you are considering investing in cryptocurrency coins and tokens, we recommend that you always do your own research. Look at the latest market trends, news, technical and fundamental analysis, and expert opinion before making any investment decision. Keep in mind that past performance is no guarantee of future returns. And never trade with money that you cannot afford to lose.
FAQ
Is floki inu a good investment?
It is hard to say. A lot will depend on whether FLOKI can maintain its current momentum and what the market does as a whole.
In volatile cryptocurrency markets, it is important to do your own research on a coin or token to determine if it is a good fit for your investment portfolio. Whether FLOKI is a suitable investment for you depends on your risk tolerance and how much you intend to invest, among other factors. Keep in mind that past performance is no guarantee of future returns. And never invest money that you cannot afford to lose.
Will floki inu go up or down?
No one can really tell right now. Sites like DigitalCoinPrice are optimistic, but the likes of WalletInvestor are far more bearish. Keep in mind that price predictions very often end up being wrong, and that prices can, and do, go down as well as up.
In volatile cryptocurrency markets, it is important to do your own research on a coin or token to determine if it is a good fit for your investment portfolio. Whether FLOKI is a suitable investment for you depends on your risk tolerance and how much you intend to invest, among other factors. Keep in mind that past performance is no guarantee of future returns. And never invest money that you cannot afford to lose.
Should I invest in floki inu?
Before you decide whether or not to invest in floki inu, you will have to do your own research, not only on FLOKI but on other memecoins.
Ultimately, though, this is a question that you will have to answer for yourself. Before you do so, however, you will need to conduct your own research and never invest more money than you can afford to lose because prices can go down as well as up.
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