Home / Analysis / Crypto / Price Predictions / FLOKI Price Prediction 2024: FLOKI Plans to Burn 15 Billion Tokens as Memecoins Rally

FLOKI Price Prediction 2024: FLOKI Plans to Burn 15 Billion Tokens as Memecoins Rally

Last Updated May 16, 2024 11:02 AM
Giuseppe Ciccomascolo
Last Updated May 16, 2024 11:02 AM

Key Takeaways

  • Floki’s FLOKI token bounced in line with the memecoin sector’s recent surge.
  • Will it continue to increase?
  • One price prediction says it may reach $0.000497 next year.

Floki (FLOKI) has increased notably over the last weeks as the entire memecoin sector recorded a surge in value. As the positive momentum seems to cool down, will Floki continue to rise?

On May 13, the FLOKI team floated  the idea of burning over $15 billion tokens, a significant figure yet a mere fraction of the total FLOKI supply, standing at 9.5 trillion. If enacted, this burn would only diminish the supply by a modest 0.1%.

Previously, FLOKI executed a burn of 190 billion tokens on March 9, which initially boosted the price, resulting in a new yearly high just five days later. However, the price has since corrected, now hovering nearly 20% below the March 9 level. Consequently, it appears unlikely that the proposed 15 billion burn will substantially impact the price.

As of May 14, 2024, a FLOKI is worth $0.0001894.

Floki did not immediately respond to a request for comment

But what is Floki (FLOKI)? How does Floki work? Let’s see what we can find out, and also take a look at some of the Floki price predictions that were being made as of May 14, 2024.

Floki Price Prediction

Let’s examine some of the Floki price predictions being made on March 18, 2024. It is crucial to bear in mind that price forecasts, particularly for a potentially volatile asset like cryptocurrency, often turn out to be inaccurate. Additionally, please remember that many long-term crypto price predictions are generated using algorithms, which means they can change at any time.

2024 2025 2026
Prediction #1 $0.000421 $0.000497 $0.00143
Prediction #2 $0.000215 $0.000306 $0.0019
Prediction #3 $0.0000687 $0.000116 $0.000279

First, CoinCodex  had a short-term Floki price prediction that saw the coin reach $0.000253 by May 19 before climbing to $0.000642 by June 13. The site’s technical analysis was bullish, with 25 indicators sending encouraging signals and one making bearish ones.

Floki Price Prediction for 2024

DigitalCoinPrice  said that Floki would reach $0.000421 this year. PricePrediction.net   thought the token would trade at $0.000215. Coinpedia  argued FLOKI would be valued at $0.0000687 by the end of the year.

Floki Price Prediction for 2025

Moving on, Coinpedia thought Floki would trade at $0.000116 in 2025. DigitalCoinPrice had the token coming in at $0.000497 that year. PricePrediction.net said FLOKI would be worth $0.000306 next year.

Floki Price Prediction for 2030

Looking at a more long-term Floki price prediction, PricePrediction.net said the token would hit $0.0019 in 2030. Coinpedia suggested it would reach $0.000279 that year. DigitalCoinPrice made a FLOKI price prediction that had it trade at $0.00143 at the start of the next decade.

Google BardAI Price Prediction for Floki (as of May 14)

Google’s Gemini platform gave the following price prediction for Floki on May 14. Please remember that the exact price prediction of an asset or cryptocurrency in the future is nearly impossible to achieve. Additionally, artificial intelligent price predictions are predicated on past performances and are in no way entirely accurate.

Short Term (Next three months)

  • Expected price: $0.000567
  • Factors to Consider:
    • Volatility: Cryptocurrencies are inherently volatile, and Floki’s price could fluctuate significantly in the next 3 months.
    • Long-Term Predictions: Predictions for Floki beyond 3 months vary greatly. Do your own research before making any investment decisions.

Medium Term (Next six months)

  • Expected price: $0.0005
  • Reasons:
    • Market sentiment: Overall confidence in the cryptocurrency market can greatly affect Floki’s price. If the market is bullish, Floki’s price is more likely to rise.
    • Exchange listings: If Floki is listed on more major cryptocurrency exchanges, it could increase its liquidity and tradability, potentially driving the price up.
    • Floki’s development and adoption: If the Floki team continues to develop its project and increase its adoption, it could lead to a higher price.
    • Regulations: Government regulations on cryptocurrency could impact Floki’s price.

Long Term (Next five years)

  • Expected price: $0.000816
  • Reasons:
    • Floki’s volatility: The cryptocurrency market is inherently volatile, and Floki’s price is no exception. Be prepared for significant price swings.
    • Floki’s development: The success of Floki’s development team and the adoption of its technology will play a major role in its price.
    • Market conditions: The overall health of the cryptocurrency market will also impact Floki’s price.

Recent Updates from Floki

Floki said  a new Floki DAO proposal just went live on whether or not to burn 15,246,000,000 $FLOKI tokens.

Floki Price History

Now, let’s examine the Floki price history . While we should never take past performance as an indicator of future results, knowing what the token has achieved can provide us with some very useful context if we want to make or interpret a Floki price prediction.

FLOKI first came onto the open market in July 2021, when it was worth about $0.0000042. It went up steadily, breaking past $0.0003118 on May 11, 2021. FLOKI then pulled back, moving sideways for the rest of its life, being worth $0.00002864 until the end of January 2024.

It then experienced a notable rise in March 2024, as all the memecoin sector rose in a few days. It slowed down a bit in April but rebounded in May, being worth $0.0001894 on May 14, 2024.
Floki price history
Floki price in 2023 and 2024. | Credit: CoinMarketCap
At that time, there were 9.56 trillion FLOKI in circulation, out of a total supply of 9.71 trillion. This gave Floki a market cap of about $1.81 billion, making it the 53rd largest crypto by that metric.

Floki Historical Price Data

Period Floki Price
May 14, 2024 $0.0001894
May 7, 2024 $0.0001805
April 14, 2024 $0.0001472
February 14, 2024 $0.00003352
May 14, 2023 $0.00003541
Launch price (July 11, 2021) $0.0000042
All-time high (November 4, 2021) $0.0003365
All-time low (July 11, 2021) $0.0000042

FLOKI Price Analysis

FLOKI Price Analysis
FLOKI could drop to lower than where it was in April | Credit: Nikola Lazic/TradingView

FLOKI’s price began to rise on February 5, starting from a low of $0.000027 and climbing to a high of $0.0003 by March 11, achieving a tenfold increase. However, it faced resistance and fell to $0.0002 by March 18, indicating the first sign of weakness and the end of the uptrend.

Wave analysis suggests that the rise from February to March 11 represents the end of its bullish phase of a five-wave pattern. The daily chart’s Relative Strength Index (RSI), previously signaling overbought conditions, fell alongside the price.

On April 13, the FLOKI ended its 60% decrease at $0.00011. Since then, we saw a recovery to $0.0002. This serves as horizontal resistance. It has formed an ascending triangle in conjunction with the ascending support. 

There is a strong chance the rise from April 13 is its next bull phase, which has the potential to surpass its previous all-time high. However, further confirmation is needed. The first sign would be a breakout above the $0.0002 horizontal resistance. 

If this happens and the price continues to increase, we could expect to see values above $0.0004 for wave five. On the other hand, if it gets rejected again and breaks its ascending support, FLOKI would be expected to go to a lower low compared to April 13. 

Is Floki a Good Investment?

It is hard to say. The token’s price has shot up after its launch, but there may already be signs of a downturn.

On the other hand, there are good reasons for Floki’ recent movements, with new developments getting investors attention.

As always with crypto, you will need to make sure you do your own research before deciding whether or not to invest in FLOKI.

Will Floki go up or down?

No one can really tell right now. While the Floki crypto price predictions are largely positive, price predictions have a well-earned reputation for being wrong. Keep in mind, too, that prices can, and do, go down as well as up.

Should I invest in FLOKI?

Before you decide whether or not to invest in Floki, you will have to do your own research, not only on FOKI, but on other coins and tokens such as Dogwifhat (WIF) or BONK. Either way, you will also need to make sure that you never invest more money than you can afford to lose.

Who are the Founders of Floki?

Floki is a decentralized project that is run by its community, and it has a core team that represents the interests of its community. The team is comprised of pseudonymous individuals, including B, Sabre, and MrBrown Whale.

Who Owns the Most Floki (FLOKI) Tokens?

On May 14, 2024, one wallet held 44.23% of FLOKI’ supply.

Richest FLOKI Wallet Addresses

As of May 14, 2024, the five wallets with the most Floki tokens were

  • 0x000000000000000000000000000000000000dead. This wallet held 4,422,959,043,210 FLOKI, or 44.23% of the supply.
  • 0xb8d2471e35ee033db509e0456c8efc4135f4ee43. This wallet held 1,376,190,798,638 FLOKI, or 13.76% of the supply.
  • 0xf977814e90da44bfa03b6295a0616a897441acec. This wallet held 313,667,163,285 FLOKI, or 3.14% of the supply.
  • 0x04b604712a92d8e206b7c9d1a74d2aa78e8cdda5. This wallet held 247,191,142,191 FLOKI, or 2.47% of the supply.
  • 0x46f80018211d5cbbc988e853a8683501fca4ee9b. This wallet held 224,531,263,321 FLOKI, or 2.25% of the supply.

Fact Box

Supply and distribution Figures
Total supply 9,708,147,884,044
Circulating supply (as of May 14, 2024) 9,556,667,254,712 (90% of total supply)
Holder distribution Top 10 holders owned 78% of supply, as of May 14, 2024

From the Whitepaper

In its technical documentation, or whitepaper , Floki says that the Floki ecosystem is a community-powered ecosystem that aims to give people control of their finances through four key utility offerings: the Valhalla NFT Metaverse Game; the FlokiFi DeFi ecosystem; the Floki University Crypto Education platform; and the FlokiPlaces NFT & Merchandise Marketplace.

Floki (FLOKI) Explained

Its founders refer to Floki (FLOKI)  as “the people’s cryptocurrency” and the utility token of the Floki Ecosystem. It is a cryptocurrency born thanks to fans and members of the Shiba Inu (SHIB ) community and is inspired by (and named after) Elon Musk’s Shiba Inu.

How Floki Works

The Floki ecosystem consists of multiple different projects which are still under development, spanning DeFi, NFTs and the Metaverse. While Floki is attempting to create some use of the token within its ecosystem, there is very little adoption of the cryptocurrency on other DeFi platforms or NFT marketplaces.

Floki Attention Tracker

Floki Google search volume
Floki Google search volume for the last 90 days. | Credit: Google
Here is a chart for Floki FLOKI’s Google search volume for the past 90 days. This represents how many times the term “Floki FLOKI” has been Googled over the previous 90 days.

FAQs

How many Floki are there?

As of May 14, 2024, there were 9.56 trillion FLOKI in circulation out of a total supply of 9.71 trillion.

Will Floki reach $0.01?

It seems impossible right now.

What is Floki?

FLOKI is the utility token that drives the entire community-owned Floki Inu ecosystem. As an ERC-20 and BEP-20 compliant token, FLOKI is a multi-chain coin that runs on both the Ethereum and BNB Smart Chain (BSC) blockchains.

Disclaimer

Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.

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