Miami, FL, June 21st, 2024, Chainwire
Beyond market trends, FLOKI has emerged as a significant entity in the meme coin sector. Its success is driven by practical applications, a robust presence, and a dedicated community.
A key factor behind FLOKI’s prominence is its strong community support. Notable mentions include a tweet from Elon Musk’s parody account with 207k followers, stating, “FLOKI objectively offers much better utility than other memecoins on the market.” Crypto analyst Crypto_Scofield also praised FLOKI’s rapid development, noting its leadership among major meme coins like $PEPE, $WIF, and $BONK.
Social Media and Community Engagement
Data from LunarCrush, a social media analytics tool shows that, in the last six months, FLOKI’s social interactions skyrocketed by 320%, and its social dominance was up 109%. Social Dominance measures the “share of voice” across social media, as per LunarCrush.
FLOKI has been actively pursuing new developments to strengthen its ecosystem. The team introduced a trading bot and achieved major listings, like Kraken adding FLOKI to its exchange listing roadmap, just in the last 24 hours.
FLOKI introduced a Telegram based trading bot tool that enables holders to trade any token on the BNB Chain network. Public availability is expected in mid-June. The service will later be expanded to the Ethereum and Base blockchains. The bot, requiring FLOKI tokens for use, aims to increase token demand through a fee structure that supports buying pressure. The bot charges a 1% fee on every transaction, with 50% of the collected fees used to buy FLOKI on the open market, thus contributing to buying pressure.
Some other examples of utility include FLOKI launching a decentralized domain name service on the BNB Chain mainnet. This service allows users to create .FLOKI domain names, representing their on-chain identities.
FLOKI roadmap shows that it is in talks to offer digital banking accounts in partnership with a licensed fintech firm. Users can link these accounts to FLOKI debit cards for smooth transactions in euros, US dollars, and more.
Another major project in progress is the launch of Valhalla, FLOKI’s play-to-earn NFT gaming metaverse.
Furthermore, FLOKIFi Locker Protocol has also been integrated into DEXTools. Collaborations with Inverse Finance and Venus Protocol allow users to…