Meme Coin Wars – Floki Inu Vs. Dogecoin And Shiba Inu – Who Wins?

Christian Encila

2 years ago

3 mins read

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There’s an ongoing meme coin war and it pits a lesser known coin against two other well-entrenched cryptos in the space today.

FLOKI is a crypto based on Elon Musk’s dog that has the same name
Floki Inu’s market cap is less than $1 billion
The crypto has been on a decline after it bottomed in June 2022

Floki Inu (FLOKI), a meme crypto that was inspired by the dog of self-proclaimed “Dogefather” Elon Musk, is aiming to surpass Dogeoin (DOGE) and Shiba Inu (SHIB).

That could prove to be easier said than done as it is losing to its fellow dog-themed cryptoccurencies in several battlefronts.

Total market capitalization is one of these aspects and Floki Inu’s is worlds apart compared to DOGE and SHIB.

Of the three, Dogecoin has the highest market cap, valued at $8.4 billion. Its spin-off token is somehow keeping up as Shiba Inu’s total capitalization stands at a little over $6.5 billion.

FLOKI finds itself in a distance that is very far from the two, as its market cap is only $70.2 million.

In terms of current trading price, DOGE leads the pack. At press time, according to CoinGecko, it is trading at $0.062. SHIB is changing hands at $0.00001109 while FLOKI is at $0.00000754.

Along these lines, Floki Inu needs to grow its market cap 100x just to surpass Shiba Inu. But even after that, Dogecoin will still prove to be a bigger challenge for the crypto.

FLOKI Price Action At A Glance

Even with Floki Inu’s minimal value, it ended up being one of the casualties of the recent bearish streak that plagued the crypto space.

Its price action chart shows the coin bottomed in June 2022 when it reached $0.0000048433 before making an impressive bullish rally, increasing its value by 270% to trade at $0.0000178931.


Source: TradingView.com

However, FLOKI wasn’t able to sustain that run and gain, as it tipped below the crucial $0.0000135356 mark. Since then, it continued to decline and hasn’t been able to make any kind of recovery.

The altcoin is in a precarious position as falling from its support level of $0.0000075326 will mean downward price trend that will send it to another bearish rally.

Floki Inu: Origins And Immediate Goals

Shortly after Elon Musk announced he was naming his dog Floki, an unidentified team worked on the digital currency sharing the same name and eventually launched it.

The Ethereum Blockchain-based Floki Inu was abandoned by its original developers after realizing there was an inflation bug in its initial token contract.

The Floki community did not give up on the asset and formed a team that revived the crypto which they claim is unique compared to other meme coins as it is capable of combining memes and utility.

True enough, the Floki Inu token is actually used to run the metaverse game known as Valhalla.

As for its immediate goals, FLOKI’s marketing chief said over the next year, they’ll have more utility and holders than SHIB.

Meanwhile, it will be interesting to see whether a new meme coin emerges to go head-to-head with Dogecoin and Shiba Inu in the coming bull market.

Will FLOKI muster enough firepower to beat DOGE and SHIB?

SHIB total market cap at $5.99 billion | Featured image from Watcher Guru, Chart: TradingView.com

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

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