Every passing morning is witnessing a more significant craze for Cryptocurrency. Have you been thinking of joining the bandwagon too? Well, meme coin Floki Inu is the latest feather to the crypto market cap. Built on the dog’s name owned by none other than Elon Musk, it has garnered much attention in no time. In this article, we shall have a brief discussion on how to buy Floki Token!
Table of Contents
- Memecoins are cryptocurrencies that are associated with some particular dog/ cat/ or fun.
- Floki Inu is a meme coin that is named after Elon Musk’s dog. It was launched in August 2020.
- Floki Inu was released on the Ethereum network as an ERC token, and its new version is also available on Binance Smart Chain.
- However, volatility and fluctuations are inherent features of the cryptocurrency market; therefore, any investment in it shall be made only after conducting due research.
- One can easily purchase Floki on the following platforms – Poloniex, Gate.io, BKEX, Hotbit and Uniswap.
What is a Meme Coin?
Specific cryptocurrencies are associated with a particular theme and are generally referred to as Meme Coins. For example, the popular Dogecoin was the first-ever meme coin and was named after a dog. Other famous meme coin examples can be Shiba inu, Floki inu, etc.
There is usually a presence of some strong community behind meme coins. This also describes, to a certain extent, the hyper volatile nature of such cryptos.
What is Floki inu coin?
Floki Inu is a meme coin created in August 2020 and named after the dog owned by Elon Musk. Inspired by Tesla boss Elon Musk’s Shiba inu, Floki cryptocurrency is community-owned. Initially released on the Ethereum network as an ERC-20 token, the new version of Floki is also available on Binance Smart Chain. FLOKI removes many of its tokens from circulation and hence can be seen as a hyper deflationary token.
On 13 September, Elon Musk tweeted a photo of the Shiba inu pet with the caption, “Floki has arrived”. This resulted in a 900 percent rise of the meme coin in merely two days. When writing this article, the Floki inu trades at $0.0002804 with a trading volume of around $12 million.
Where to buy the Floki Inu token?
If you are confused about where and how you can buy Floki Inu, don’t worry. You’re at the right place. We are here to help you choose the best and most reliable platforms for Cryptocurrency investment. Owing to the popularity of Floki, you have a good number of options to choose from when it comes to platforms offering the meme coin. We’ve listed down the recommended ones below:-
Centralized exchange platforms
Learn about the best crypto exchange platforms in our article.
Decentralized exchange platforms
Go ahead and read our article on the best-decentralized exchanges.
How to buy FLOKI on the Poloniex platform?
Poloniex is a centralized cryptocurrency exchange platform, and unlike Uniswap, it maintains a proper order book. As a result, you can use it to conveniently buy, sell, and trade FLOKI along with many other crypto coins.
Read our Poloniex review to know more.
Now let’s have a look at the complete procedure of buying Floki on Poloniex.
- Create an account on Poloniex. You’ll be needing your email id to do that.
- Now click on the buy crypto option in the upper left corner.
- Now select your preferred fiat currency and USDT in their respective bars.
- Fill in the amount of USDT you want to buy and complete the formalities.
- Now head over to the trade section and look for the FLOKI/USDT pair.
- Fill in all the information on the page, as per your requirements, and complete the transaction.
FLOKI/USDT – POLONIEX
Floki/USDT started to pump from 21st October and went to its ATH at 377%, but it has a breakdown from its major support, where you can see the volume looks terrible too. It has formed out the resistance, but it is on its 2nd support where volume looks good, and we can see 89 and 200 EMA support too!
However, if it breaks down this support, we can expect it will touch its last support, too, because 21 and 55 EMA acting as support right now in the middle of its volume looks choppy.
How to buy Floki Inu on Uniswap?
Decentralized exchange platforms like Uniswap, PancakeSwap, ShibaSwap, and many others extend their services to the popular meme coin. The procedure is similar for every Dex platform; here, we will be explaining the process with the help of the Uniswap platform.
You can read our Uniswap guide to get a deeper perspective of the same. Now kindly follow the steps given below-
- Visit uniswap and click on the launch app button.
- Make sure you have one of the wallets below. We’d be using metamask, and you can now unlock your metamask wallet.
- Now, chose the asset you wish to swap and select the token ( Floki Inu) that you wish to now own.
- Hit the SWAP option and confirm the purchase to own FLOKI.
Pros and Cons of investing in FLOKI Inu token
|It is one of the most popular dog-themed meme coins and has been on the rise recently, thanks to the tweets by Elon Musk.||Floki being a meme coin, is hyper volatile in nature.|
|As more and more coins are pulled out from circulation, the taxes paid to the holders also rise.||There are high chances of such coins turning out to be a scam.|
Conclusion: Where and How to buy Floki Inu Token
Evolution and fluctuation are inherent features of the cryptocurrency market. The craze of cryptocurrency is increasing with each passing day, and people are investing and gaining from cryptocurrencies more than ever before. Therefore, it is sane to gather some authentic information regarding the available new, upcoming, and well-performing cryptocurrencies. Floki inu is one such cryptocurrency that is gaining prominence. It is a meme coin that has garnered immense attention over a few months. One can easily purchase it over various cryptocurrency exchange platforms and decentralized exchange platforms such as Gate.io, Poloniex, LBANK, Pancakeswap Uniswap, etc. However, the volatility and fluctuations shall be kept in mind, and proper research should be conducted before investing in any cryptocurrency.
Frequently Asked Questions
Floki Inu can be easily stored in any hardware or software wallet. The best and most reliable hardware wallet is Ledger. One can go for either Ledger Nano S or Ledger Nano X, depending upon the required specificity. The most sought-after software wallet is the Coinbase wallet. It has a highly diverse functionality and is available on both Android and iOS devices.
While you can receive sky-rocketing results by investing in Floki, you should also be prepared to lose all you have invested. There are equal probabilities of gain and loss in a market as unpredictable and changing as a cryptocurrency. Therefore, the only haven you can resort to is relying on your independent research and information gathering that must be carried out as an essential activity before investing in it.
According to our market analysts, from 21st October, FLOKI Inu has started to pump and went to its ATH with a rise of 377%. However, after reaching there, it suffered a breakdown to its major support where you can see the volume looks bad. Moreover, it is now forming out of the resistance, but currently, it is on its 2nd support where volume looks good too, and we can see 89 and 200 EMA support as well! To learn more, read The $FLOKI Supremacy | Are we Going to $0.01?