This year can be summed up as one of the most unpredictable for cryptocurrencies. A divergence among investors presents token developers with a number of options; one can emphasize performance and utility, or emphasize novelty and memes. Floki Inu (CCC:FLOKI-USD) is a token which leans into both, and it has found great success thus far. As interest in the altcoin heats up, investors are seeking out Floki Inu price predictions.
To understand Floki, you need a brief rundown on the history of dog-centric cryptocurrencies. Dogecoin (CCC:DOGE-USD) is the progenitor of an entire movement. When it exploded in price this spring, it spawned a wave of tokens bearing Shiba Inu imagery — siblings of a kind — made to capitalize on DOGE’s success. Many Doge-relative meme coins fell off, but one major success is Shiba Inu (CCC:SHIB-USD).
Investors likely recognize SHIB at this point; it’s one of the most-talked-about altcoins of the moment thanks to its 240% price surge in the last month. While DOGE has been beleaguered by volatility throughout the summer, SHIB has held strong, thanks to a thriving community that continuously promotes the crypto on Twitter.
Floki Inu Looks to Overtake Other Pupcoins With a Slate of Projects
This brings us to Floki, a token created by members of this fervent Shiba Inu community. The token aims at combining the social aspect of SHIB with a greater utility, something which critics of SHIB feel the coin lacks. Floki’s developers promise development of a herd of different projects, be it an NFT market, a crypto education platform, or a broader charitable effort toward food stability.
Another thing that helps Floki to stand out against Shiba Inu is its token burn mechanism. Floki has 10 trillion total tokens, which is much smaller than SHIB’s 1 quadrillion total. Indeed, many critics of altcoins cite huge total supplies as a red flag. However, the Floki developers have taken a route which SHIB developers have not yet leaned fully into with its token burn model, allowing its supply to becoming increasingly smaller. A percentage of Floki tokens are permanently removed from circulation with every transaction, increasing value through supply and demand and helping to solve issues of liquidity. If the token proves its longevity, the total supply will continue to shrink, while SHIB’s stays stagnant. Investors should note that Shiba Inu developers are also developing a coin burning strategy at this time.
Floki is now the token of choice for many a pupcoin investor. The multiple community incentives and coming products are helping it to lever past SHIB, although it has a while to go if it hopes to overtake the token in market capitalization.
Floki Inu Price Predictions Surge With Altcoin Frenzy
As altcoins continue to see increasing popularity among crypto investors, Floki is standing out. Its community is a close match with SHIB’s in terms of being vocal. It is an oft-trending crypto play and its investors are keen to promote the token to a broader audience. That being said, investors have high hopes for the future. With its price currently standing at $0.000077, where might Floki go from here?
Let’s look at some Floki Inu price predictions and see what analysts are thinking:
- DigitalCoinPrice thinks that by the end of the year, Floki could drop a zero from its price. In December, the site anticipates a price of $0.00011.
- Gov Capital predicts that by October 2022, the token will reach a high of $0.00033.
- Cryptocurrency Price Prediction is making both an end-of-year and a 12-month prediction for Floki. By December, the token is expected to reach a price of $0.00014. By October of next year, that outlet expects the token to hit $0.00024.
- WalletInvestor is setting a one-year price target of $0.00031 on Floki.
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.