CoinJie.com reported:
FLOKI issues a warning against fraudulent tokens. FLOKI falls by 11.10%, but the MACD signal indicates a bullish trend.
Multi-chain token Floki[Floki] on Ethereum (ETH) and Binance Smart Chain (BSC) recently issued a reminder to its community on X (formerly known as Twitter) regarding a scam involving fake tokens falsely claiming to be associated with its brand.
What is the warning about?
The warning is due to the emergence of numerous fraudulent tokens on the Solana and Base blockchains, misleading investors.
To protect its community, Floki released a warning message through its official X handle, stating,
“We have noticed that there are some scams claiming that #Floki has tokens on #Base or #Solana. Please note: $Floki can only be traded on the $BNB and $ETH chains.”
To further clarify, Floki shared its official chain addresses with users.
Community response
The community responded to this news, with many expressing relief and sharing related experiences. One X user, TourBillion, said on social media platforms,
“Yesterday, someone said there are Floki tokens on $Doge.”
Another X user, Roro X, said,
“When #FLOKI is booming, it’s the best cryptocurrency in the world, when it crashes, it’s a scam!”
Floki’s future roadmap
Despite recent criticism and scams related to fraudulent tokens, FLOKI remains committed to its growth and user interests.
In fact, in March, the meme coin with a dog theme unveiled its 2024 roadmap, highlighting various upcoming features and utility-driven initiatives.
These plans include providing regulated digital banking accounts, allowing users to create and fund bank accounts using FLOKI tokens.
This initiative underscores FLOKI’s dedication to expanding its ecosystem and providing valuable services to its community amidst various challenges.
FLOKI’s price action
Meanwhile, despite the warning, FLOKI’s price action seems to have been affected by the scams. According to CoinMarketCap data, as of the time of writing, FLOKI has fallen by 11.69%, with a trading price of $0.0001558, highlighting a strong bearish trend.
However, the technical indicator MACD above the signal line and the green histogram above the neutral line suggest that buyers are still surpassing sellers.