Is Floki (FLOKI) Closer to Flipping Shiba Inu (SHIB) and Dogecoin (DOGE) Due to This Reason?

Is Floki (FLOKI) Closer to Flipping Shiba Inu (SHIB) and Dogecoin (DOGE) Due to This Reason?

Dogecoin (DOGE) and the Shiba Inu (SHIB) cryptocurrencies became mainstream phenomena based on Elon Musk's influence, tweets, and memes. Floki (FLOKI), another Elon Musk inspired cryptocurrency, is inching closer to both based on catalysts like the mainnet launch of its FlokiFi Locker protocol happening this month.

FlokiFi (Floki Finance) is the catch name for a suite of decentralized finance products that will be launching under the Floki brand and a perfect way to describe a series of utility products that the Floki community will launch progressively; this will make FlokiFi an ecosystem within the larger Floki ecosystem. The first utility product launched by Floki under the FlokiFi umbrella is the FlokiFi Locker protocol.

FlokiFi Locker is an innovative digital asset locker solution that allows people to lock and vest fungible tokens, Liquidity Pool (LP) tokens, NFTs, and Multi tokens. FlokiFi Locker, by all standards, is the most innovative crypto locker solution in the industry and the first and only token locker protocol to implement the ERC-1155 multi-token standard.

Prior to the mainnet launch of the FlokiFi Locker protocol, Floki has already announced over a dozen heavyweight partners that include Avalanche's biggest DEX Trader Joe, OKXChain's biggest DEX CherrySwap, BSC heavyweight DEX Apeswap, and many more.

What Floki (FLOKI), Shiba Inu (SHIB), and Dogecoin (DOGE) Have in Common

Floki, Shiba Inu, and Dogecoin are surprisingly meme coins; the three coins are also invariably referred to as "dog coins," possibly because they all have a sort of attachment to Elon Musk's dog. Unlike other cryptocurrencies that thrive on venture capitalists and hedge funds, Floki, Shiba Inu, and Dogecoin are the people's coins.

They thrive on a massive community; the community powers them. However, Floki (FLOKI) has a sort of advantage over both Shiba Inu (SHIB) and Dogecoin (DOGE) because it strongly focuses on real utility and charitability. An example of Floki's utility focus is the innovative FlokiFi Locker protocol that will launch on the mainnet this month.

Floki is also getting very popular on social media platforms, with the #Floki and #FlokiFi hashtags trending a lot on Twitter recently. The trend is due to Floki's massive community.

Floki is a Coin to Watch in 2022

With hundreds of thousands of followers on different social media platforms and over 400,000 token holders, Floki is a coin to watch in 2022 due to the tightly-built Floki Inu community. Apart from Floki's massive community, another thing that will work for Floki are the catalysts lined up in its 2022 development roadmap.

Floki is based on a strong community like Dogecoin and Shiba Inu, but unlike the two, it has a comparative advantage over Dogecoin and Shiba Inu as a result of its much smaller market cap. For example, Floki's current market cap is at least 70x smaller than that of both Shiba Inu and Dogecoin, meaning holders could stand to gain up to 70x if it flips Shiba Inu or Dogecoin. It's important to state that this is not financial or investment advice, and there is no guarantee Floki will flip Doge and Shib, but simply highlighting how Floki compares to both Shiba Inu and Dogecoin in terms of market cap, a key factor crypto investors look at when deciding what cryptocurrency to buy.

Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.

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