What is Floki Inu Coin (FLOKI) and is it a good investment?
Meme coins are prevalent in the crypto world. While memes are popular (who doesn’t love a meme, right?), the meme piece comes with a danger. It is the lack of seriousness of which investors take the coin. Meme coins are popular because many investors in the crypto market are your everyday Joes. They are not financial experts. They see something that attracts them and they invest. Moreover, the whole value of cryptocurrency, especially true for coins meme, lies in their public perception. The same goes for Floki Inu (FLOKI), the utility token of the Floki ecosystem.
But the credibility of the Floki Inu (FLOKI) coin was in danger a week before. This is a recent bug that was discovered during an audit. But FLOKI developer team released Nottingham update to fix the issue.
In short, the facts are that FLOKI was undertaking a migration from V1 to V2. Meanwhile, some accounts had an increase of 2.2 trillion utility coins in their wallet, which was far more than the wallets were authorized for. The problem was somewhere in the source code which had an inflation bug. The Nottingham update has been released to address this issue. Investor confidence has been shaken by the whole debacle.
FLOKI Inu is a meme piece. Made through the smart contracts of Ethereum and the Binance smart chain, it is counting on its popularity to grow. Its main goal is to build an ecosystem with a Valhalla NFT Metaverse, Decentralized Finance Chain, Floki University Crypto Education Platform, and FlokiPlaces NFT and Commodity Marketplace.
Floki Inu wants to create a better place. This is why he has philanthropic efforts. They want to educate the masses by inexpensive means. Their attitude towards people is truly commendable.
Price movement – Floki Inu (FLOKI)
At the time this article was put to words, the value of FLOKI is $0.0000348 with a trading volume of $4,687,030. The total supply of the coin is to be 10 trillion with a current supply of 9,180.76 billion FLOKI. Due to the vast supply of the coin, a single FLOKI might never gain huge value unless FLOKI plans huge inflation-reducing migrations in the future. But for that to happen, the cryptocurrency must remain loyal to its investors. The coding issue has given the impression that developers might struggle to create “codes” and every time a migration is planned, it could send shivers down the spine of a poor investor.