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Beware of fake FLOKI tokens on Solana and Base, Floki Inu warns

  • Floki Inu team warns about “fake” claims that FLOKI tokens are on Solana and Base chains.
  • According to the meme coin project, the native token is olnly tradable on ETH and BNB Chain.

The lates Floki news relates to a warning the meme coin’s team issued this weekend.

Specifically, the crypto community should be careful as there are scams claiming the FLOKI tokens are on Solana and Base, Floki Inu wrote in a social media post.

In a post on the official Floki Inu X account, the meme coin notified its users and the broader crypto community to be wary of such as they are “false and attempts to deceive.”

“It has come to our attention that there are scams claiming Floki has a token on Base or Solana,” the Floki Inu team posted. “Please note: $FLOKI is ONLY tradeable on the $BNB and $ETH chains,” they added.

The project shared the correct contract addresses on Ethereum and BNB Chain, with the ETH as 0xcf0c122c6b73ff809c693db761e7baebe62b6a2e and the BNB address as 0xfb5b838b6cfeedc2873ab27866079ac55363d37e.

Users should be keen not to fall victim of these schemes, and “always verify information from official sources.”

Floki Inu’s warning comes as the crypto market witnesses an explosion in meme coins on Solana and Base. Also happening is a proliferation of scams targeting unsuspecting cryptocurrency enthusiasts and traders, one of which is malicious links to fake tokens.

Floki’s key roadmap

The project launched its ambitious crypto roadmap in March this year.

The highlight milestones include a trading bot, FLOKI-powered bank accounts, domain name, Floki staking as a service and the Valhalla mainnet.

Floki has already achieved some of these milestones among other strategic marketing initiatives. 

Meanwhile, the FLOKI price reached a new all-time high in early June before nosediving as the meme coin market cooled its rally.

FLOKI is currently the fifth-largest meme coin by market cap with $1.6 billion, behind dogwifhat, Pepe, Shiba Inu and Dogecoin.

The post Beware of fake FLOKI tokens on Solana and Base, Floki Inu warns appeared first on CoinJournal.

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Dogecoin, Shiba Inu volume slumps as Solciety token sale thrives

Meme coins have done well in the past few months, with most of them outperforming the likes of Bitcoin, Ethereum, and Solana. Tokens like Floki Inu, Dogwifhat, and Pepe have all jumped by more than 300% this year while most big coins have jumped by less than 100%. 

Dogecoin and Shiba Inu lose momentum

There are signs that most traders are focusing on newer meme coins as the biggest ones lose momentum. 

A good example is looking at the performance of pioneer tokens like Dogecoin and Shiba Inu. The two tokens have jumped by over 20% and 30%, respectively while most newer tokens like Dogwifhat and Pepe have more than doubled.

The other way to look at this is their daily trading volume. Data by CoinMarketCap shows that the volume of Dogecoin in the past 24 hours stood at over $288 million while Shiba Inu stood at more than $115 million. These are small numbers considering that these tokens have a market cap of over $17 billion and $9.9 billion.

In contrast, Pepe’s volume in the past 24 hours stood at over $356 million while Dogwifhat had $326 million. The two’s market cap stands at over $4.5 billion and $1.9 billion, respectively. 

Other smaller tokens like Floki, Bonk, and Mog Coin are also seeing higher volume than Dogecoin and Shiba Inu. 

Solciety is doing well

This performance is happening at a time when Solciety’s token sale is doing well. Recent data shows that the Solciety network has raised over $556k in less than a month, meaning that investors are bullish about the network.

Solciety is an upcoming token that hopes to become a leading player in the meme coin industry. Specifically, the developers hope that it will become the leading political meme coin because of its neutrality. 

That is unlike other politically biased tokens like TRUMP and JEO Boden that are biased. Instead, its standout feature, the meme coin generator allows users to create their own memes, share them on social, and then be rewarded. 

The developers are hoping that funds raised in the presale will help them build the biggest meme coin platform in the industry. As part of its tokenomics, Solciety will have 10 billion tokens, 30% of which will be through its token sale and 20% will be used in marketing. The rest of the funds will go to Treasury, Liquidity, and Development.

Solciety joins other networks that have raised millions of dollars in token sales this year. Bitcoin Dogs raised over $13 million in a token sale while BitBot raised over $6 million. You can buy the Solciety token here.

The post Dogecoin, Shiba Inu volume slumps as Solciety token sale thrives appeared first on CoinJournal.