SHORT ANSWER: FLOKI could reach $0.01, but it would take lots of buying activity: You can buy FLOKI on Uniswap after funding a crypto wallet with ETH eToro, Coinbase and Kraken
floki
Floki InuDisclosure: eToro USA LLC; Investments are subject to market risk, including the possible loss of principal.
With crypto booming, meme coins are all the rage. Many tokens have seen massive gains, and new tokens are popping up all the time. However, a handful of tokens are setting themselves apart from the rest. These tokens have established huge communities of HODLers who continue to keep the prices of the meme coins elevated. Some of these tokens are well-known names like Shiba Inu (SHIB) and Dogecoin (DOGE), but new risers, such as Floki Inu (FLOKI) are starting to make waves.
What is Floki Inu?
FLOKI is a meme coin based on the Ethereum chain. The token is branded as The People's Cryptocurrency, with an ecosystem that extends beyond just the meme of a dog that the token is based on.
The project has spent lots of time creating new uses, hoping to draw in and keep investors of the token. Let’s take a look at some of the more prominent projects in the ecosystem:
- Valhalla: This is the play-to-earn NFT metaverse game that allows users to battle for the chance to earn FLOKI tokens.
- Staking: Users can lock up their FLOKI tokens for a certain amount of time in exchange for the ability to earn TOKEN, which is the FLOKI sister token.
- NFTs: Floki Inu has a handful of related NFT projects, with the most notable being Flokitars, which can be used to gain a special advantage in the Valhalla game.
- Prepaid Cards: You can generate virtual prepaid cards that can be funded with FLOKI. Additionally, 1% of all transactions are set aside for burning and buybacks.
- University of Floki: This crypto education platform uses the metaverse to teach students about FLOKI.
While some of these plans are in the works, it does show the big ambitions that the creators have for the project.
Floki Inu Market Capitalization
FLOKI began trading in summer 2021 and quickly reached all-time highs (ATHs) of $0.0003437. The price fell dramatically and remained relatively stable until 2024 when the coin surpassed $0.0003, nearing ATHs. In terms of market capitalization, the token was worth less than $400 million going into 2024 but surpassed a market cap of $2.4 billion in March 2024. This places FLOKI in the top 50 tokens by market capitalization.
Can Floki Inu Hit $0.01?
FLOKI could reach $0.01, but it would take a decent amount of continued buying to get there. For reference, here’s what a $0.01 FLOKI would entail:
- A 3,600%+ increase from current prices
- A 3,100%+ increase from previous ATHs set in November 2021
- A market cap of $97 billion
Looking at all of these metrics, a $0.01 FLOKI is possible, but it would take a lot of things to go correctly. The token is up more than 7,000% since it launched, so an additional 3,600%, while large, is technically possible. Additionally, a potential market cap of $97 billion would place FLOKI in the top five tokens by market capitalization. This is unlikely, as it would have to overtake other projects, such as USD Coin (USDC) and Solana (SOL). These projects are some of the biggest names in crypto, so it would be hard for a relatively new meme coin to surpass these.
However, that would be if FLOKI were to reach $0.01 today. If crypto markets keep going up at this pace, a $97 billion market cap FLOKI could be much lower on the rankings list than if it were to reach $0.01 today.
Additionally, the creators of the project have spent lots of time putting together a burning program. Most recently, they burned over 190 billion tokens. If they continue burning at a high rate, a price of $0.01 could be reached at a market cap well below the $97 billion mark.
So, while FLOKI is unlikely to reach $0.01 anytime soon, it could reach that level sometime in the future. For reference, Benzinga’a FLOKI price prediction shows that FLOKI could surpass $0.01 sometime in the 2030s.
How to Buy Floki Inu
There are many different options when it comes to purchasing altcoins like Floki Inu. You can purchase Floki Uni on Gate.io or use a decentralized exchange (DEX) like Uniswap to swap another crypto for Floki Inu. A DEX is a great alternative for traders looking to avoid fiat or who wish to exchange a different altcoin.
To use a DEX, you’ll need to buy Ethereum on a cryptocurrency exchange. Some great choices are eToro, Kraken and Coinbase. Once you own ETH, you'll need to send it to an Ethereum wallet and then swap your ETH for Floki Inu on a DEX like Uniswap.
Sum of median estimated savings and rewards earned, per user in 2021 across multiple Coinbase programs (excluding sweepstakes). This amount includes fee waivers from Coinbase One (excluding the subscription cost), rewards from Coinbase Card, and staking rewards. ³Crypto rewards is an optional Coinbase offer. Upon purchase of USDC, you will be automatically opted in to rewards. If you’d like to opt out or learn more about rewards, you can click here. The rewards rate is subject to change and can vary by region. Customers will be able to see the latest applicable rates directly within their accounts.
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Is Floki Inu a Bubble?
FLOKI is likely a bubble. While the project has created some use cases, these are relatively minimal in terms of future use and may not be completed. Most of the price is the result of community sentiment, which can change at a moment’s notice. This happened the last time FLOKI hit ATHs back in 2021. The price fell by over 97% within 6 months. That means a $100,000 investment made in November 2021 would have only been worth $3,000 in May 2022.
What are Meme Coins?
Meme coins are a type of cryptocurrency based around memes or pop culture references. These tokens can draw support from communities that drive the price up, regardless of whether or not the token has real utility. This quality makes meme coins extremely risky to invest in. If you are looking to invest in a meme coin, do not invest more than you are willing to lose.
Is Floki Inu a Good Investment?
FLOKI is one of the most speculative investments available. Its price shoots up and down regularly, which can make for huge gains and losses. If you are looking to make a high-risk, high-reward investment with a popular meme coin, then Floki Inu may be a great option for you. If you are looking to invest in revolutionary blockchain projects that will shape the future of DeFi, then Floki Inu may not be the best choice for you.
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About Caden Pok
Caden has been involved with crypto since 2018, when he began investing, trading, and mining tokens. He took part in undergraduate research studying cryptoeconomics at the University of Michigan, where he will graduate Phi Beta Kappa with a bachelor’s in economics in 2025. He is experienced with DeFi technology and multiple blockchains, currently investing in Ethereum and Bitcoin.