One investing trend that has been on pretty much everyone’s mind is the birth of the pupcoin frenzy. Crypto investors knew that the mighty Dogecoin (CCC:DOGE-USD) would come back after its summer slump, but few expected it to be sharing the spotlight. The last several weeks have seen Shiba Inu (CCC:SHIB-USD) and Floki Inu (CCC:FLOKI-USD) rise to prominence, both with the goal of overtaking the coin that sparked their creation. The Floki Inu crypto has recently established itself as a pupcoin to be taken seriously.
So where did these pupcoin contenders come from?
On June 25, Elon Must tweeted “My Shiba Inu will be named Floki.” At the time, no one likely expected those six words to have the effect that they did. The tweet quickly inspired a team of developers from the Shiba Inu community to find a way to take advantage of what they recognized was about to become a trend. By the time Musk announced that his family had adopted the puppy on Sept. 12, a token with the same name was already available.
And while the Floki Inu crypto is two layers removed from the original meme coin, there is reason to take it seriously. Early investments in Floki Inu could have generated massive returns — a two-month period saw prices rise 1,500%.
“Whether you think [Elon Musk]’s good for cryptocurrency or not, he has the ability to move markets,” Corey, a core member of Floki’s marketing team, told InvestorPlace. “He did it with DOGE, he did it indirectly with Shiba.”
Corey also noted that as long as the puppy Floki is alive, Musk will be tweeting about him, generating the type of long-term excitement that the token was created to ride.
But Corey and his peers believe there is more to Floki Inu’s staying power. The team advertises that Floki, unlike other meme tokens, focuses on building its utility. While he gives a nod to Shiba Inu’s ShibaSwap platform, he believes Floki Inu stands out with its in-development projects.
Up 4,500%, Where Does the Floki Inu Crypto Go Next?
What exactly is the utility that makes Floki superior to other members of the puppy pack? According to one of the token’s lead developers, who goes by B, Floki Inu has three core projects that should have investors excited.
- Valhalla: Floki’s flagship non-fungible token (NFT) gaming metaverse. According to B, this platform will feature play-to-earn mechanics, on-chain gaming interactions, and upgradeable NFTs. Currently in development, Valhalla is scheduled for launch in 2022. FLOKI will be the main token that powers the game. This metaverse is already drawing considerable anticipation from fans of NFT gaming and Floki holders alike as social media chatter heats up.
- FlokiPlaces: This digital marketplace for NFTs and merchandise is expected to be released before the end of 2021. Operating as a fully functional crypto commerce platform, it will allow users to trade NFTs, collectibles, and merchandise using cryptocurrencies. B says that FLOKI will serve as the main currency.
- Floki Inuversity: For anyone looking to learn about the ever-evolving world of crypto, Floki’s team is also working to provide an educational resource. According to B, it will essentially be the de facto platform for anyone interested in learning about cryptocurrency. “The plan with Inuversity is to make it the biggest database of crypto content that people will be able to access by paying with the FLOKI token,” B told InvestorPlace.
Its also worth noting that Floki’s team has been quite busy with their global marketing push. Over the last few weeks, this initiative has taken shape. While Floki has plans for advertising in several countries, it is already drawing attention for its ads in major cities in the United Kingdom. Throughout December, we can expect to see Floki Inu appearing in ads across major television networks.
This type of advertising has only helped drive the social media hype upon which Floki thrives.
Becoming the Top Meme Crypto
Moving forward, B says investors can expect to see “more focus on utility, regulatory compliance, and strategic partnerships that further position FLOKI to be the top memecoin and a top crypto project.”
As part of this, Floki Inu has been working to expand its availability on different centralized and decentralized exchanges. One popular way to buy the token is through Gate.io, a top-ranked crypto exchange platform.
“The listing process is pretty thorough since we need to balance speed and security,” says Gate.io CMO Marie Tatibouet. “We have to make sure that our users have the opportunity to be early traders in some of the most promising protocols in this space. As such, we have a team that continuously vets and lists new coins.”
Tatibouet therefore is a believer in the future of meme cryptos such as Floki. She highlighted another utility for investors to keep in mind, stating that meme-driven coins can provide a “fascinating study in the dynamics between public sentiment and price.”
“People say that memecoins have no utility, but they fail to see how they tend to bring people together and how so many people have discovered the world of crypto through these coins,” Tatibouet said.
As long as these powerful communities exist, Tatibouet maintains, meme coins are not going to die. She named both Shiba and Floki as examples of meme coins that she didn’t see going away any time soon. “Plus that Elon Musk connection is always there,” she adds. Like its developers believe, that will help it stay relevant.
What Comes Next for the Puppy Pack?
This morning, Shiba Inu made headlines when it overtook Dogecoin in market capitalization, making crypto history in the process. Floki Inu hasn’t covered that type of ground yet, but the token has proven that it is a dog that wants to hunt.
Like its puppy cousin, the FLOKI crypto has seen magnificent gains in the last week. Both tokens are on the prowl, but Floki wants to prove that not only can it run with the pack’s new leader, it can overtake it.
Any skeptics would be wise to remember that when Shiba first launched, no one thought it could become the Dogecoin killer it was created to be.
The puppy wars are from over and there is no better time to start watching as these players fight for a spot at the top.
On the date of publication, Samuel O’Brient did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.