There\u2019s an ongoing meme coin war and it pits a lesser known coin against two other well-entrenched cryptos in the space today.<\/p>\n
FLOKI is a crypto based on Elon Musk\u2019s dog that has the same name
\nFloki Inu\u2019s market cap is less than $1 billion
\nThe crypto has been on a decline after it bottomed in June 2022<\/p>\n
Floki Inu (FLOKI), a meme crypto that was inspired by the dog of self-proclaimed \u201cDogefather\u201d Elon Musk, is aiming to surpass Dogeoin (DOGE) and Shiba Inu (SHIB).<\/p>\n
That could prove to be easier said than done as it is losing to its fellow dog-themed cryptoccurencies in several battlefronts.<\/p>\n
Total market capitalization is one of these aspects and Floki Inu\u2019s is worlds apart compared to DOGE and SHIB.<\/p>\n
Of the three, Dogecoin has the highest market cap, valued at $8.4 billion. Its spin-off token is somehow keeping up as Shiba Inu\u2019s total capitalization stands at a little over $6.5 billion.<\/p>\n
FLOKI finds itself in a distance that is very far from the two, as its market cap is only $70.2 million.<\/p>\n
In terms of current trading price, DOGE leads the pack. At press time, according to CoinGecko<\/a>, it is trading at $0.062. SHIB is changing hands at $0.00001109 while FLOKI is at $0.00000754.<\/p>\n Along these lines, Floki Inu needs to grow its market cap 100x just to surpass Shiba Inu. But even after that, Dogecoin will still prove to be a bigger challenge for the crypto.<\/p>\n FLOKI Price Action At A Glance<\/p>\n Even with Floki Inu\u2019s minimal value, it ended up being one of the casualties of the recent bearish streak that plagued the crypto space.<\/p>\n Its price action chart shows the coin bottomed in June 2022 when it reached $0.0000048433 before making an impressive bullish rally, increasing its value by 270% to trade at $0.0000178931.<\/p>\n Source: TradingView.com<\/p>\n However, FLOKI wasn\u2019t able to sustain that run and gain, as it tipped below the crucial $0.0000135356 mark. Since then, it continued to decline and hasn\u2019t been able to make any kind of recovery.<\/p>\n The altcoin is in a precarious position as falling from its support level of $0.0000075326 will mean downward price trend that will send it to another bearish rally.<\/p>\n Floki Inu: Origins And Immediate Goals<\/p>\n Shortly after Elon Musk announced he was naming his dog Floki, an unidentified team worked on the digital currency sharing the same name and eventually launched it.<\/p>\n The Ethereum Blockchain-based Floki Inu was abandoned by its original developers after realizing there was an inflation bug in its initial token contract.<\/p>\n The Floki community did not give up on the asset and formed a team that revived the crypto which they claim is unique compared to other meme coins as it is capable of combining memes and utility.<\/p>\n True enough, the Floki Inu token is actually used to run the metaverse game known as Valhalla.<\/p>\n As for its immediate goals, FLOKI\u2019s marketing chief said over the next year, they\u2019ll have more utility and holders than SHIB.<\/p>\n Meanwhile, it will be interesting to see whether a new meme coin emerges to go head-to-head\u00a0with Dogecoin and Shiba Inu in the coming bull market.<\/p>\n Will FLOKI muster enough firepower to beat DOGE and SHIB?<\/p>\n\n SHIB total market cap at $5.99 billion | Featured image from Watcher Guru, Chart: TradingView.com<\/a><\/p>","protected":false},"excerpt":{"rendered":" <\/p>\n There\u2019s an ongoing meme coin war and it pits a lesser known coin against two other well-entrenched cryptos in the space today.<\/p>\n FLOKI is a crypto based on Elon Musk\u2019s dog that has the same name Floki Inu (FLOKI), a meme crypto that was inspired by the dog of self-proclaimed \u201cDogefather\u201d Elon Musk, is aiming to surpass Dogeoin (DOGE) and Shiba Inu (SHIB).<\/p>\n That could prove to be easier said than done as it is losing to its fellow dog-themed cryptoccurencies in several battlefronts.<\/p>\n Total market capitalization is one of these aspects and Floki Inu\u2019s is worlds apart compared to DOGE and SHIB.<\/p>\n Of the three, Dogecoin has the highest market cap, valued at $8.4 billion. Its spin-off token is somehow keeping up as Shiba Inu\u2019s total capitalization stands at a little over $6.5 billion.<\/p>\n FLOKI finds itself in a distance that is very far from the two, as its market cap is only $70.2 million.<\/p>\n
\nFloki Inu\u2019s market cap is less than $1 billion
\nThe crypto has been on a decline after it bottomed in June 2022<\/p>\n