In Jun. 2021, Musk announced that he was buying a Shiba Inu dog and naming it Floki. That announcement inspired some fans to launch a cryptocurrency called Floki Inu.
Elon Musk’s link to Floki Inu, Dogecoin, and dog-themed cryptocurrencies
When the Tesla boss finally announced the arrival of his little dog, Floki Inu soared. Floki fans continue to be excited about the crypto’s association with Musk. Early on Oct. 4, the electric vehicle and space travel billionaire shared a photo of his Shiba Inu puppy with the caption “Floki Frunkpuppy.”
Before Musk tweeted the photo of his dog, Floki Inu also rose the weekend after Tesla announced record car deliveries in the third quarter. The company shipped 241,300 cars to customers in the three months between Jul. and Sep. 2021, exceeding the 229,242 cars Wall Street expected. Floki Inu has climbed more than 2,000 percent in the past three months.
Musk has been a longtime fan of Dogecoin, the popular dog-themed meme cryptocurrency. He’s even surveyed people to ask if Tesla customers would like the option to purchase a car with the crypto. Musk’s Doge payment survey followed Tesla’s decision to suspend Bitcoin payments on climate concerns.
Dogecoin’s success, largely fueled by Musk’s tweets, has inspired many other dog-themed cryptocurrencies. In addition to Floki Inu, others are Shiba Inu, Kishu Inu, Babydoge, and Shiba Floki.
Floki Inu's 2021 price prediction
Floki Inu has risen more than 2,000 percent in the last 90 days. There are several reasons Floki Inu could continue to climb. The team behind Floki Inu is launching a major marketing campaign, starting in Oct. 2021. The team plans to spend nearly $1.5 million on marketing efforts for the next several months.
In London, for instance, Floki Inu ads will appear in the city’s underground transport network, which moves almost 5 million people daily, and 300 public transport buses. Floki Inu will also advertise on at least three billboards in downtown Los Angeles and across 25 buses in the city’s metro area. For the campaign, Floki Inu has tapped an advertising company that has worked for Google, Microsoft, Coca-Cola, and American Airlines.
These marketing campaigns will make more potential investors aware of Floki Inu, and could help get the altcoin listed in more top exchanges. Such listings could boost the crypto's accessibility, liquidity, demand, and price. The crypto could also get a boost from the NFT boom. Therefore, it's possible Floki Inu could more than quadruple by the end of 2021.
Will Coinbase add Floki Inu?
A major objective of the Floki Inu marketing campaign is to get the crypto listed on big exchanges. It's been listed on Gate.io, a platform used by millions of crypto traders, but hasn't yet scored a coveted Coinbase listing.
Coinbase is the largest crypto exchange in the U.S. and it’s used by big investors. It hasn’t announced any plan to add Floki Inu, but it has recently added several meme cryptos, including Dogecoin and Shiba Inu. Floki might be next as Coinbase tries to expand investment opportunities for its customers.
The best way to buy Floki Inu
While waiting for Coinbase to add Floki Inu, you can buy the crypto on Gate.io, Uniswap, PancakeSwap, 1Inch, and Hotbit. You can only purchase Floki with another cryptocurrency—direct purchases with the U.S. dollar aren’t yet available.
Floki Inu versus Shiba Inu
Floki and Shiba are both dog-themed cryptocurrencies inspired in part by Elon Musk and Dogecoin’s success. Shiba Inu is already available on Coinbase alongside Dogecoin. Both meme tokens currently trade under $1. While Shiba has a market cap of about $3.5 billion, Floki Inu’s market cap is about $500 million.