Floki Inu Is Following in Shiba Inu Footsteps, Transitioning Into a DAO For Faster Adoption

Other than Bitcoin, many cryptocurrencies, virtual currencies and meme coins have been making headlines lately. Shiba Inu and Floki Inu are the two altcoins that investors have been flocking to because of their growing demand and popularity. The Shiba Inu team recently announced the launch of their most anticipated DOGGY DAO, which will be released in a stage-by-stage metric and phased approach, according to an official release.

Now, in a similar stunt, Floki Inu has also announced that it will soon begin its phased transition to a DAO - Decentralized Autonomous Organization for faster adoption and growth soon. Looks like the meme currency is following in the footsteps of the Shiba Inu coin.

"After extensive discussions with key and strategic advisors, as well as after review of data and information from several reliable sources, $FLOKI will begin a gradual and phased transition to a DAO," read the post on Floki Inu's official Twitter handle. This latest initiative of Floki Inu will make the platform decentralized and transparent.

Floki DAO
Web Screen Grab

This also means Floki Inu will be a community-led entity without any central authority and will become completely autonomous. "This is by far the most bullish move the legendary #FLOKI team has pulled. Transitioning into a #FlokiDAO means a decentralized movement that is the first of its kind in the #Crypto verse. Bullish on @RealFlokiInu $FLOKI and what the near future brings!" out of sheer excitement a user wrote on Twitter.

Moreover, Floki Inu, the token trending on Twitter almost every day is more commonly known by its ticker FLOKI. It came to existence due to the support from the Shiba Inu community.

5 Lesser Known Facts About FLOKI

  • Ranks much lower in the trading charts as it bags the 2,845th spot in the largest cryptocurrency list by market cap.
  • Floki Inu has partnered with European Soccer teams in Spain, Italy and India.
  • The Floki community aims to launch three utility projects including Valhalla, a NFT gaming Metaverse, FlokiPlace, a NFT trading marketplace and Floki Inuveristy, an education platform.
  • In December 2021, a website claimed that a reliable source has indicated the world's largest crypto exchange, Binance, had plans to list the meme coin.

At the time of publishing, the dog meme coin Floki Inu's price on Monday was trading at $0.00007321, up by +5.75%. according to CoinMarketCap.

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  • Floki Inu has partnered with European Soccer teams in Spain, Italy and India.
This article was first published on January 10, 2022