FLOKI Price Prediction

The price of FLOKI today is $0, changing within the past 24 hours for -1.68% and 4.55% over the week. FLOKI’s price action is characterized by the Bearish sentiment.

The current volatility index for FLOKI is measured at 13.34%. FLOKI’s circulating supply is 9.54T. In the big picture, the highest price FLOKI has reached is $0.0003 and its lowest observed price was $0.

What is Floki (FLOKI)?

Floki (FLOKI) was created as a meme token on the Ethereum blockchain and later expanded to Binance Smart Chain. It was inspired by popular meme cryptocurrencies Dogecoin (DOGE) and Shiba Inu but its actual namesake is Tesla, SpaceX, and X Corp CEO Elon Musk’s dog.

     
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Floki aims to build a community-driven decentralized ecosystem that encourages holders to participate actively in decision-making processes. The blockchain platform’s core will consist of transformative crypto projects: Web3 game Valhalla, FlokiPlaces, and an unannounced Mystery Project. Valhalla is a gaming metaverse where users can engage with, trade, and craft unique digital assets. FlokiPlaces is a bustling marketplace for NFTs and exclusive goods, powered by crypto.

What affects the Floki (FLOKI) price?

Market Sentiment

As we have seen, the price of the FLOKI token can be influenced by the general market sentiment. If there is a positive sentiment towards cryptocurrencies and investors are optimistic about the future of meme tokens, it drives up demand and causes a price increase for the FLOKI token. Conversely, if market sentiment turns negative, it leads to a decrease in demand and a decline in the token’s price.

     
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        alt="Latest Crypto Fear & Greed Index"

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That being said, meme coins seem to behave differently from the rest of the crypto market sometimes. Currently, we are experiencing such a trend, when almost all crypto assets are in the red but memes thrive. Another curious observation is that FLOKI leads the way among dog-themed coins: it may be outperformed by newer tokens like PEPE but SHIB and DOGE are behind it.

Elon Musk’s Influence

Given the inspiration behind the token, the statements and actions of Elon Musk, the CEO of Tesla and SpaceX, can significantly impact the price of the FLOKI token.

Musk has been known to tweet about cryptocurrencies and his tweets have often caused significant price movements in the past. The fact that the meme token bears the name of his dog secured frequent mentions, even if Musk himself does not hold or shill FLOKI. As a result, every time he shares pictures of his dog, there is an uptick in Floki’s price.

Ongoing Developments

The DeFi, NFTs, and Metaverse initiatives constituting the Floki ecosystem are all under active development. Although Floki is making an effort to develop some uses for the token within its ecosystem, the cryptocurrency is not widely used on other DeFi platforms or NFT marketplaces. This is by design: FLOKI is first and foremost a utility token within its own ecosystem.

However, there is a sister platform to the Floki ecosystem: a real-world asset protocol TokenFi. It launched in late 2023, and although the two operate independently, there is a connection. Users can stake FLOKI and receive rewards in TokenFi’s native cryptocurrency TOKEN.

The continued development of the Floki ecosystem, including Valhalla and FlokiPlaces, demonstrates the team’s commitment to expanding the use cases and utility of the coin. The protocol itself also receives updates, moving the price: just recently, FLOKI was listed on Revolut and Binance Thailand. The DAO also proposed a massive token burn to reduce the 9.56 trillion circulating supply.

FLOKI Sentiment

Which way the market swings today? Overall, technical indicators show that currently, the sentiment in the FLOKI markets is Bearish. The Fear and Greed Index for FLOKI today is in the 25 (Extreme Fear) zone.