InstaForex

October 29, 2021

Floki Inu (FLOKI) Records Highest Jump, Defeats Dogecoin (DOGE), Shiba Inu (SHIB)

 If yesterday the crypto market saw the highest jump of Shiba Inu (SHIB) to surpass the position of Dogecoin (DOGE), Floki Inu (FLOKI) also did not miss the display of remarkable movement.


Based on observations from October 27 to 28, FLOKI recorded an increase of over 300%, thus recording the highest price of all time (ATH), $ 0.0002209 last night.



The Inu Floki inspired by Tesla founder Elon Musk’s pet dog named ‘Floki’ suddenly gained popularity due to several of these factors:


The developer of this cryptocurrency has advertised FLOKI across London through the public transport system, including subway and bus stations.

It is rumored that the advertisement began to be distributed to the public since early October.

The developer of FLOKI made a number of overhauls including the cost structure, a reduction in the tax imposed on each transaction by abolishing royalties.

Arguably the system applied is the same as SafeMoon.

The decision also raises concerns if ‘royalties’ given to its investors are labeled as unregistered securities under the law.

The tax has been lowered from 8% to 3% per transaction.

The tax received will be used for marketing purposes, developing the Floki Inu ecosystem including a video game metaverse project known as Valhalla.

At the time of writing, over 170,000 FLOKI investors are on record. The FLOKI price recorded a slight decline of over 7% since the ATH level, trading at $ 0.00020516.