Can Floki Inu reach the price of $ 1 in 2022?
2021 has been a year of multiple trends, including the continuation of DeFi, the rise of NFTs, but also the explosion of memecoins – a special branch of cryptocurrencies that are, like Dogecoin, inspired by memes. of dogs, as well as the DOGE itself. .
Thanks to the support of Elon Musk and the DOGE community, the coin has seen its price increase massively this year, becoming one of the top performers of the year, and along the way, it has inspired the creation of many similar cryptos.
Among them are a few pieces that quickly became hits among members of the community, but also relatively recent arrivals that are only starting to develop, such as Floki Inu. In fact, Floki Inu also recently caught the attention of Elon Musk, and soon after, many other players in the crypto industry.
Today we take a closer look at the project and try to determine whether or not this coin can fetch the $ 1 price tag.
What is Floki Inu?
Floki Inu is a new memecoin created by fans and members of the Shiba Inu community. He was named after Elon Musk’s puppy, Floki. Given his ties to Dogecoin, it wasn’t long before a coin dedicated to Musk’s own puppy appeared. Understandably, for the first month and a half of his life, the coin’s price was at an all-time low, around $ 0.000004. However, it then began to grow in September 2021, hitting an ATH of $ 0.000075 in the first days of October.
The spike came after Elon Musk tweeted a photo of his pup, and the ATH himself was reached on October 4. Since then, the coin’s price has corrected to $ 0.00005 and climbed back to $ 0.00007. As of this writing, on October 8, the coin’s price corrects again, currently standing at $ 0.000063 after dropping 5.81% in the past 24 hours.
As mentioned, the piece premiered after Elon Musk announced that he was purchasing a Shiba Inu dog and named it Floki. While Musk likely did this to further support Dogecoin, his pup quickly created a crypto and gave it his name.
Will Floki Inu grow up?
Once the presentations are over, let’s tackle the problem: Can and will Floki Inu (FLOKI) increase in value in the near future?
The first thing to note is that the coin has been around for about three months now, and since then it has skyrocketed by over 2,000%. In other words, the growth has already taken place, showing that there is interest in this crypto and that it has potential.
Given that this isn’t just another random member of the Inu family, but Musk’s new dog-inspired piece, it’s likely that FLOKI won’t just fade away. Meanwhile, his community and the team behind Floki Inu have additional plans to ensure the play’s growth and success.
One of them is a major marketing campaign slated to begin this month, with the team intending to spend almost $ 1.5 million just on marketing efforts, not just in October, but over the course of the year as well. the next few months.
Push FLOKI: the team’s marketing plan
One example includes advertisements that will appear throughout London’s underground transport network. Given that the London Underground carries around 5 million people every day – over 300 public buses – Floki Inu has a good chance of being introduced to millions of people every day.
The piece will also be advertised via billboards in downtown Los Angeles, with the current plan being to feature it on at least three billboards, likely in very popular locations. Los Angeles will also see FLOKI ads on 25 buses in the city’s metro area.
The advertising is done by an expert company that was previously hired by Coca-Cola, Google, American Airlines, Microsoft and other big companies, so advertisers certainly know what they are doing. It probably won’t be long before the new Shiba Inu-inspired coin starts listing on crypto exchanges, which will increase exposure, demand and possibly its price as well.
With FLOKI also potentially benefiting from a boost from the NFT sector, some are predicting its value could at least quadruple before the end of the year. Speaking of Floki Inu and the NFTs, the project’s official Twitter account revealed that they are creating an up-and-coming NFT gaming metaverse known as Valhalla which is one of several initiatives from the team that will award utility of the room and give it a real purpose.
This amount of attention – especially since Musk will likely continue to support the project – could even make Floki Inu one of the biggest memecoins. It is unlikely to replace Dogecoin, although the possibility exists, although it is small and vague.
But, many believe that the real turnaround in the coin would be a Coinbase listing. As mentioned, the team is pursuing a number of initiatives, listing on major exchanges being one, and Coinbase is right at the top of the list of desired platforms. The coin has already been added to Gate.io which is a good start, but Coinbase would be the real price that could potentially push the altcoin quite high, maybe even to $ 1.
The possibility is not that great either. After all, Coinbase has already listed DOGE and SHIB, so why not FLOKI too?
SHIB and FLOKI are still valued at less than $ 1, although Shiba Inu has a significantly larger market cap – around $ 3.5 billion, compared to $ 500 million for FLOKI.
In other words, FLOKI still has a ways to go to beat the second most popular memecoin, but its rapid rise certainly indicates that there is community interest, and new use cases, listings and a major marketing campaign could easily push the coin. to become DOGE Jr.
Right now all we can do is wait and watch, but the future holds great possibilities, and FLOKI is certainly worth watching. FLOKI is currently available on the Gate.io exchange.