Floki inu price prediction: Dog coin rise in store?
FLOKI has gone from nothing to one to keep an eye on. What’s the latest Floki Inu price prediction?
Contents
- The Floki Inu white paper
- The saga of FLOKI: In the beginning
- Serious growth and consequent decline
- Future momentum?
- What might happen
- FAQs
Floki Inu and its token, FLOKI, is a relatively new coin. It first came onto the market in the summer of 2021, after the news that Elon Musk, Tesla CEO and dogecoin enthusiast, had bought one of the Japanese breed of dogs called shiba inu (inu – 犬 – is the Japanese for dog) and named it Floki.
The coin gained notoriety in late 2021, when an advertisement promoting Floki Inu in London under the slogan “Missed DOGE? Get $FLOKI” led to an investigation by the UK Advertising Standards Authority into the promotion of an alleged unregulated financial product.
Despite its value as a meme coin, and the fact that its creators appear to be anonymous, Floki Inu has a fair number of devotees already. The coin promises quite a lot, but how has it behaved since coming onto the market and can we make a floki inu price prediction? Can floki inu recover? First, let’s take a look at the fundamentals of the cryptocurrency.
The Floki Inu white paper
According to its 14-page white paper, the “Floki Ecosystem is a community-powered ecosystem that aims to give people control of their finances through four key utility offerings”, which are:
- The Valhalla NFT Metaverse Game
- The Floki University Crypto Education platform
- DeFi
- The FlokiPlaces.
Floki University, according to the white paper, is “FLOKI’s attempt to fill the crypto education gap for the next billion users that will be discovering crypto in the coming years – all while creating awareness for the FLOKI token.”
The token is available on more than one blockchain. The white paper says: “Each blockchain FLOKI has its own strong points that allows the FLOKI ecosystem to thrive on it.” As of now, FLOKI is available on:
- Ethereum
- Binance Smart Chain.
More importantly, it has this priceless Elon Musk tweet that continues to work in its favour…
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The saga of FLOKI: In the beginning
As one might expect from a meme coin, the initial price was extremely low. On 10 July 2021 it was worth $0.00000361 at the start of the day.
The next day saw an intraday high of $0.00000463, before it dropped to a low of $0.0000031. And in truth, the first few weeks of the coin’s existence did not see very much movement at all.
Part of this was down to the crypto’s relative obscurity, and part of it was down to the aftermath of the great crypto day crash of 19 May.
Prices were down over the summer, so it makes sense there would not be dramatic growth for a brand new cryptocurrency. At this point, the floki inu price prediction could well have been a pretty unimpressive one.
Things got a bit more interesting towards the end of July. As the crypto market started to recover, more people got back to investing in crypto, meaning there were more customers for the FLOKI coin. This was reflected by some price jumps.
For instance, on 28 July, the intraday high was just $0.00000296, but on 30 July it was $0.00000594, meaning the coin doubled over the course of two days. It was this sort of behaviour that started getting people interested.
In August, things began to pick up for the dog coin. By the second day of the month, it was hitting a high of $0.00000776, before closing out at $0.00000728. While it was not all plain sailing from there – 3 August saw an intraday low of $0.00000434 – things were moving upward.
The process took a little bit of time, with the coin spending much of the middle of the month hovering around $0.000005, but a zero was taken away on 29 August when the coin hit an intraday high of $0.00001304 before closing the day at $0.00001304.
Serious growth and consequent decline
There was better news to come, however. In September, the price grew as more people got involved and there was a real curiosity about both floki inu price predictions and the coin itself.
Initially, FLOKI stayed between $0.00001 and $0.00002, but there was gradual growth followed by a leap. On 12 September, it opened at $0.00001686 but then rose by more than 117% to close the day at $0.00003663.
This was the sort of behaviour that was certain to garner the attention of investors and the price went up over the next few days, reaching a high of $0.00007023 on 16 September. There was then some circling down and it closed the month at $0.00004942.
October was another time of growth for FLOKI. While the majority of the month was spent at similar levels to September, whether it was the presence of advertising on the London transport network or something else entirely, there was soon some absolutely stratospheric action going on.
On 27 October, floki inu opened at $0.00005621, but it then boomed to reach a high of $0.0001147 before dropping slightly to end the day at $0.0001066.
This meant that not only had it gone up by more than 86% over the course of the day, it had dropped another zero from its decimal figure, psychologically crucial for investors who may be wary about spending money on a coin worth a fraction of a cent.
There was some more expansion in the price, with FLOKI reaching a high of $0.0003437 on 4 November, but by late November it had reduced to $0.000126.
On 28 November a bull run began, with the coin hitting $0.00022 on 3 December. However, this brief recovery was short-lived and by 6 January 2022, the coin was worth $0.00008425, plummeting further to $0.00003812 at the time of writing on 2 February.
Is FLOKI a dead coin or will the bulls make a return?
Future momentum?
Before we get to the various floki inu price predictions, one thing to note is the very small fractions of a cent that make up the coin’s value.
There would have to be significant growth – a percentage increase of more than 26,000% as of 31 January 2022 – before it would reach even the one-cent barrier. While that is not impossible, it is unlikely to happen in the short term.
However, FLOKI can still be worth well under a cent and, potentially, make a profit for its investors. Compared with where it was on 1 August, just over five months ago, it has risen by over 830%. Its peak value so far has been $0.0003359, which it achieved on 4 November 2021, but since then, it has seen a general downward trend.
What might happen
Before we look at price predictions, remember that these predictions are usually made by an algorithm and, especially the long-term ones, are very often wrong. They should not be taken as the absolute truth, more as a potential suggestion.
With that out of the way, let’s look at some FLOKI price predictions.
WalletInvestor says that the coin should get to $0.000279 in a year’s time, and $0.00123 in five years.
Less optimistic but still positive is DigitalCoinPrice’s FLOKI coin price prediction for 2022, predicting an average value of $0.0000514. Its price prediction for 2027 is $0.0000982, and in 2029, the site says, FLOKI will have a projected value of $0.0001653.
Finally, gov.capital has a FLOKI price prediction of about $0.00042 in a year’s time and $0.00148 in five years’ time.
FAQs
It might be. Floki inu has certainly performed very well since it was launched, with a current fully diluted market cap of more than $301m.
That said, you do need to be cautious. Cryptocurrencies can be highly volatile and prices can definitely go down as well as up. You will need to do your own research and never invest more than you can afford to lose.
This is a matter of conjecture. The absolute highest forecast we have is gov.capital’s potential prediction for 2027, which is $0.00148. Other sources claim the meme coin is reliant on hype and unlikely to be a viable long-term investment, with some sources listing the coin as a deadcoin.
As it stands, it makes sense to be cautious. The highest forecast is noted as the absolute highest the algorithm thinks it can reach, rather than the one it thinks it will reach. You will need to do your own research.
This is a question we cannot answer. It is entirely a matter for you to decide.
Before making that decision, you need to do your own research. Remember prices can go down as well as up and never invest more money than you can afford to lose.
