Floki Inu Warns Against Scam Tokens on Solana and Base

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As a seasoned crypto investor with a few battle scars from past experiences, I can’t help but appreciate Floki Inu’s proactive approach to warning its community about potential scams. The cryptocurrency market is riddled with fraudulent projects that exploit unsuspecting investors, and it’s essential for legitimate projects like Floki Inu to take a stand against these nefarious activities.

Floki Inu, a meme crypto project, has cautioned its followers and the wider cryptocurrency community about fraudulent tokens incorrectly linked to its name on the Solana and Binance Smart Chain networks. These unauthorized tokens are attempting to deceive people by capitalizing on Floki Inu’s popularity.

Floki Inu’s Warning to Investors

The account representing Floki Inu on Twitter, @RealFlokiInu, issued a cautionary message to its audience through social media. They explained that the genuine FLOKI token can be found solely on the Binance Smart Chain (BNB) and Ethereum (ETH) platforms.

Scam Warning
It has come to our attention that there are scams claiming #Floki has a token on #Base or #Solana.
As a financial analyst, I’d like to remind you that $FLOKI can only be traded on two different blockchain networks: Binance Smart Chain (BSC) and Ethereum. Here are the accurate contract addresses for each platform:
ETH:…
— FLOKI (@RealFlokiInu) June 29, 2024

To ensure the authenticity of the cryptocurrency project’s tokens, users are advised to obtain contract address information solely from official channels. Here are the verified contract addresses for your reference:

    ETH: 0xcf0c122c6b73ff809c693db761e7baebe62b6a2e
    BNB: 0xfb5b838b6cfeedc2873ab27866079ac55363d37e

As a researcher examining Floki Inu’s actions, I can say that the implemented measures serve as evidence of their commitment to preventing fraudulent schemes from misusing their brand and deceiving investors.

Expanding Utilities and Reward Scheme

Despite the existing security risks, Floki Inu continues to advance its ecosystem by introducing notable projects like the FLOKI Name Service. This recently launched service, now accessible on the BNB Chain mainnet, allows users to register decentralized domain names with a .floki extension. By doing so, it boosts the practical value of the Floki Inu token within its expanding ecosystem.

Using the SPACE ID infrastructure, this service facilitates seamless compatibility with various Decentralized Applications (DApps), such as Trust Wallet and PancakeSwap, ensuring a smooth user experience.

Currently, the memecoin initiative FLOKI has reached a significant milestone with over 417,400 holders on the BNB Chain. To commemorate this accomplishment, FLOKI introduced a rewards program enabling holders to earn interest. This news was shared with the community on X, as the project remains committed to recognizing and compensating its dedicated followers.

As a data analyst, I’ve observed some significant growth in FLOKI‘s metrics recently. Notably, it was listed on Binance Thailand, expanding its reach further. Moreover, its social media following has surpassed the 610,000 mark on platform X.

FLOKI Price Trend

In the past 24 hours, the price of Floki has shown a bullish trend, yet it hasn’t managed to surpass its intraday peak at $0.0001709. As a result, bears took advantage of this situation and gained control of the market. The price found some support later on at the level of $0.0001626.

At press time, FLOKI was trading at $0.0001638, a 0.18% surge from the intra-day low. 

As a researcher observing the market during the rally, I noted that FLOKI‘s market capitalization experienced a 0.18% increase to $0.0001638. Simultaneously, the 24-hour trading volume took a significant dip by 25%, reaching $121,799,971. This substantial decrease in trading volume could indicate that traders were cashing out their profits from the recent bullish trend.

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2024-06-30 03:14