CoinDesk report:
The price of Floki Inu is soaring, while core tokens such as Pepe, WIF, and Shiba Inu are trending in the red zone. The current trading price of the token is $0.0001748, indicating that bullish signals may help the token soar to new heights.
Floki Inu: Current Status and Trajectory
Source – Wccftech
Floki Inu is one of the most powerful cryptocurrencies in space. It is known for introducing grand marketing strategies to simplify its existence and has been ahead of the game. The token recently launched a range of new products, including a Telegram bot designed to streamline cryptocurrency trading for traders and investors.
At the same time, the token’s bot program also introduced a special burning mechanism. This feature involves the bot program charging a 1% fee on each transaction. 50% of the revenue generated from the fee will be used to burn Floki tokens, thus establishing balance in the price of Floki.
“The Floki Trading Bot charges a 1% fee on each transaction and uses Floki as its primary utility token: 50% of the fee is used to buy and burn $Floki, with the remaining portion going to the Floki treasury. This will enhance the utility of the Floki token while accelerating its deflation.”
The token is currently building a bullish price momentum. Floki is surpassing leading tokens such as Shiba Inu, Pepe, and Dogwifhat, putting it in the red trend zone. As of the time of writing, SHIB’s trading price is $0.00001685, while WIF and PEPE are currently trading at $2.05 and $0.00001082, respectively, down by nearly 2% and 5%.
Floki Inu Price Status: July
According to CoinCodex, Floki Inu may set a new price record this month. The platform stated that the token could soar by nearly 227%, reaching a new high of $0.000586.
“By August 1, 2024, the price of Floki Inu may rise by 227.02%, reaching $0.000586. Based on our technical indicators, the current sentiment is optimistic, with the fear and greed index showing as 51 (neutral). Floki Inu has recorded 13/30 (43%) green trading days, with a price volatility of 23.89% over the past 30 days.”