Meme coins are prevalent in the crypto-world. Although memes are popular (who doesn’t love a meme, right?) the meme coin comes with a danger. That is the lack of seriousness of which investors take the coin. Meme coins are popular as a lot of investors in the crypto-market are your everyday Joes. They are not financial experts. They see a thing that appeals to them and they invest. Furthermore, the whole value of the cryptocurrency, more so true for meme coins, lies in their public perception. The same is true for Floki Inu (FLOKI), the utility token of the Floki ecosystem.
But the credibility of Floki Inu (FLOKI) coin was in danger a week before. This was a recent bug that was uncovered during an audit. But the developer team of FLOKI released the Nottingham Update to resolve the issue.
Brief facts of the matter are that FLOKI was undertaking a migration for V1 to V2. During this, some accounts had an increase of 2.2 trillion of the utility coin in their wallet, which was way more than what the wallets were allowed for. The problem lay somewhere in the source code that had an inflation bug. The Nottingham Update was released to remedy this issue. Investor trust has been shaken due to this whole debacle.
FLOKI Inu is a meme coin. Made through the smart contracts of Ethereum and the Binance smart chain, it relies on its popularity to grow. Its main aim lies in creating an ecosystem with a Valhalla NFT Metaverse, a decentralized finance chain, a Floki University Crypto Education platform, and the FlokiPlaces NFT and merchandise marketplace.
Floki Inu wants to create a better place. This is why it has philanthropic endeavors. They want to educate the masses through inexpensive means. Their attitude towards the people is really commendable.
Price Movement – Floki Inu (FLOKI)
At the time when this article was put down into 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-cutting migrations in the future. But in order for that to happen, the cryptocurrency has to maintain faith with its investors. The coding problem has created the impression that the developers might have trouble creating “codes” and each time migration is planned, it might send chills through some poor investor’s spine.
