FLOKI is a cryptocurrency that began as a dog-themed memecoin, named after Elon Musk’s Shiba Inu, but has evolved into a multi-functional asset within the Web3 ecosystem. Launched in 2021, FLOKI was initially introduced as an ERC-20 token on the Ethereum blockchain and later expanded to the Binance Smart Chain (BSC). The token is emblematic of the broader trend of memecoins that blend humor and community engagement with decentralized finance (DeFi), non-fungible tokens (NFTs), and blockchain-based gaming.
The creation of FLOKI was sparked by a tweet from Elon Musk in June 2021, where he mentioned naming his Shiba Inu “Floki.” The developers quickly seized this opportunity and launched the token. Despite early challenges, including incidents of internal theft and a potential rug-pull, FLOKI managed to establish itself in the cryptocurrency market. The project is led by Jackie Xu, a software engineer with extensive experience in the blockchain industry.
A key driver of FLOKI’s growth and resilience is its vibrant community, known as the “Vikings.” This community is not only active in promoting the token but also engages in philanthropic initiatives, such as funding the construction of schools in developing countries and supporting disaster relief efforts.
FLOKI operates within a broad ecosystem that enhances its utility through various innovative components. FlokiFi, for instance, is a suite of decentralized finance tools that includes the FlokiFi Locker, which allows users to lock liquidity pool tokens, NFTs, and other assets, generating transaction fees that contribute to the token's overall economy. The Valhalla project introduces an NFT-driven gaming metaverse where players can earn and spend FLOKI tokens through various in-game activities, integrating the token into the GameFi industry. Additionally, the TokenFi platform enables users to create their own cryptocurrencies and tokenize real-world assets, expanding FLOKI’s application within the crypto space. Floki University serves as an educational platform designed to increase cryptocurrency literacy and awareness of the FLOKI token. Moreover, the introduction of Floki Prepaid Cards allows users to spend FLOKI tokens through virtual prepaid cards that are compatible with major payment systems like Visa, Mastercard, Google Pay, and Apple Pay.
FLOKI has a maximum supply of 10 trillion tokens, distributed across Ethereum and BSC. The project employs several deflationary mechanisms, including strategic token burns and transaction taxes. In early 2023, the FLOKI DAO (Decentralized Autonomous Organization) approved a substantial burn of over five trillion tokens and reduced the transaction tax to 0.3%, making it more accessible for traders to engage with the token.
FLOKI has evolved from a memecoin into a complex cryptocurrency with a strong community base, diversified utility across DeFi, NFTs, and gaming, and a commitment to social responsibility. While it originated as a light-hearted project, FLOKI has developed into a token with significant functionality and ongoing contributions to both the cryptocurrency landscape and real-world initiatives.
How To Buy FLOKI or Add it to your Strategy
The fastest, most convenient way to purchase FLOKI is to purchase it on ICONOMI. We check FLOKI live prices on 10+ crypto exchanges and buy it at the best market price.
You can buy FLOKI by adding it to your private Crypto Strategy (crypto portfolio). You can also use our recurring buy feature that tends to level out cryptocurrency price volatility effects. You can find out more about how to benefit from smaller investments at regular intervals on our blog article.
We recommend you do your own research and cryptocurrency analysis. Experienced crypto traders use fundamental and technical analysis to evaluate if FLOKI is a good buy/sell. Fundamental and technical analyses are the two most common types of analysis used in trading traditional assets (e.g. stocks and bonds).
If you are unfamiliar with analyzing cryptocurrency prices and want to buy FLOKI, we recommend you read the next section, as copying might be a better approach.
Add FLOKI to your portfolio by copying a Strategy
If you are not skilled at these, consider a different approach to investing in cryptocurrencies. You can learn from and copy seasoned crypto traders on ICONOMI who regularly share their insights and manage their public Crypto Strategies. Go to the strategies page and use the “ticker” filter to find out which public Crypto Strategies have FLOKI in their structure.
