The public advertisement for meme coin, Floki Inu has flooded the streets of London as the project’s anonymous developers seek to drive a massive retail interest in the token. According to a report from the Financial Times, the ads can be seen on London’s Public Transport system and the slogan “Missed Doge? Get Floki” is being featured prominently on buses, trains, and underground stations.
The growth of the digital currency ecosystem in the past year led to the advent of many innovative products backed by blockchain technology. Meme coins remain one of these and interest over time, particularly amongst retail investors have surged as these coins are known to return massive price gains for early investors.
Typically, meme coins like Floki Inu are often created with no fundamentals except for the fun of it, however, developers are becoming creative as these tokens are beginning to pursue more utilities, a development that is targeted as attracting more investors across the board. While most digital currency developers and proponents have often resorted to social media promotions, the current move by Floki Inu shows a more ambitious way to get the token into the public spotlight.
The funds for the advert is reportedly obtained from about 4% in taxes obtained in the form of fees received from new users purchasing the coin. The sponsors of this advert according to the Financial Times are planning to extend similar gestures to other cities including Los Angeles, Japan, China, and Russia.
Floki Inu and the Meme Coin Craze: Potential Journey to $1
One of the major trends amongst the communities of meme coins like the Floki Inu is the ultimate ambition to hit a price target of $1. This began with Dogecoin (DOGE), a digital currency that was created as a joke back in 2013.
Shunning its massive supply, the community behind Dogecoin, backed by Elon Musk’s promotional tweet is hoping that one day, the coin’s price which is trading at $0.2 at the time of writing and up over 9,340% in the past year will touch $1 someday.
The advent of Floki Inu seeks to topple the dominance of other prominent meme coins including Dogecoin and Shiba Inu. However, FLOKI is far behind in its bid to touch $1. The coin is changing hands at $0.00006173, making the journey to the $1 target unrealistic, despite recording as much as 306137.46% in the past three months per data from CoinMarketCap
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