Dogecoin vs Floki Inu: What Sets These Memecoins Apart?

Key Takeaways:

• Dogecoin’s Volatility Odyssey: A journey of peaks, valleys, and RSI suspense in the world of Dogecoin.
• Floki Inu’s Narrative of Rebound and Retreat: Demonstrating resilience in the face of market fluctuations.
• Market Capitalization Showdown: The tussle between Dogecoin’s dominance and Floki’s frequent upward trends.

What is Floki Inu?

Floki originated as a crypto meme-coin inspired by Elon Musk’s dog but has since transformed into a comprehensive web3 initiative covering decentralized finance, NFTs, and the Metaverse. Now recognized as “The People’s Crypto,” the Floki project team has elevated the once frivolous meme-coin into a more substantial entity.

The project’s associated token, FLOKI, is a multi-chain token compatible with both the Ethereum and Binance Smart Chain (BSC) blockchains, being both ERC-20 and BEP-20 compliant. FLOKI tokens can seamlessly traverse between the two chains, enabling FLOKI holders to utilize either blockchain for storing and transacting with their tokens.

It’s important to highlight that FLOKI incurs a 3% tax on purchases and sales of the token, excluding transfers between the two chains. This tax is funneled into the Floki Inu treasury, intended by the project to fuel further ecosystem development and enhance Floki’s adoption. While the white paper suggests a reduction in the tax once the treasury accumulates sufficient funds, there’s no specified target, timeline, or predetermined reduction amount provided.

Key features of Floki Inu:

• Floki Inu is a multichain protocol based on the Ethereum blockchain and the BNB chain; which gives it access to both communities.
• The team at Floki Inu is dedicated to its marketing team, and the small fee it charges goes directly to either of the marketing and development teams.
• In the Floki Inu ecosystem, multiple NFT portals like Floki Diamond-Hands, Floki Inu Ruby, and Flokitar offer Floki NFTs for purchase. Development is underway for Valhalla, an NFT gaming metaverse, and FlokiPlaces, an NFT and merchandise marketplace.

Read More: Floki Inu vs Pepe Coin

Latest news on Floki Inu:

• With promises of new developments to be introduced soon, the NFT gaming metaverse of Floki Inu, Valhalla has been updating new weekly activities in order to build communities.

Vikings, it’s time for a new week of Clan Activities in #Valhalla!

Gather your clanmates, work on quests, and earn valuable points for your clan at https://t.co/LkthDfEaMO! 🔥

Questions? Join our TG or Discord:
– https://t.co/mRFxCd30k1
– https://t.co/dkQBnlJSMH pic.twitter.com/6ecNxYCvql

— FLOKI (@RealFlokiInu) December 16, 2023

• In late June, Floki unveiled its roadmap, outlining significant enhancements to its payment system, burning mechanism, LP support, and more. Additionally, the roadmap includes plans for the integration of DeFi lending and borrowing on the BNB chain, the launch of the Floki staking program’s mainnet, and other upcoming initiatives.

#FLOKI 2023 ROADMAP UPDATE

We are VERY CLOSE to delivering on several key promises on the $FLOKI 2023 roadmap, so we believe an update is long overdue to show where we are at.

Here is a quick overview of some of the exciting things our devs are working on behind the scenes that… pic.twitter.com/EjGj284jCk

— FLOKI (@RealFlokiInu) June 22, 2023

Floki Inu vs Dogecoin: Comparative Analysis

Source: CoinMarketCap, December 18, 2023.

What is Dogecoin?

Emerging as a playful and meme-inspired digital currency, the DOGE token was conceived in December 2013 by Billy Markus and Jackson Palmer as a whimsical alternative to Bitcoin. Dogecoin establishes a distinctive and friendly identity by featuring the Shiba Inu dog from the “Doge” meme as its emblem.

Initially conceived as a jest, Dogecoin garnered attention on social media and within specific online communities. Despite its comedic inception, Dogecoin has cultivated a sizable and engaged user community. Operating on a decentralized and peer-to-peer blockchain, it employs a proof-of-work consensus algorithm akin to Bitcoin.

A noteworthy aspect of Dogecoin lies in its community-driven and philanthropic endeavors. The Dogecoin community actively participates in various charitable initiatives and fundraising campaigns, contributing to the coin’s positive and benevolent reputation.

Key Features of Dogecoin:

• Dogecoin operates on a decentralized and peer-to-peer blockchain, utilizing a proof-of-work consensus algorithm similar to Bitcoin.
• The Dogecoin logo features the Shiba Inu dog from the popular “Doge” meme, contributing to its unique and approachable identity.
• Dogecoin has maintained consistent liquidity and high trading volumes on various crypto exchanges.
• Dogecoin benefits from an active development community contributing to its maintenance, updates, and improvements.

Read More: Shiba Inu vs Dogecoin

Latest news on Dogecoin:

• Backing the initiative to send DOGE to the moon in 2015, it is now materializing into reality. Through a collaborative endeavor from the community, Astrobotic is gearing up to dispatch a tangible Dogecoin to the lunar surface inside the DHL Moonbox aboard ULA’s Vulcan Centaur Rocket on December 23, 2023.

🚀Dogecoin On The Moon Update🌕

Exciting news for the Dogecoin community!🌑

Astrobotic plans to send a physical Dogecoin to the moon in the DHL Moonbox via ULA’s Vulcan Centaur Rocket on 12/23/2023. Funded by our community in 2015, this mission embodies collective effort! pic.twitter.com/QESz4ikHln

— Dogecoin (@dogecoin) November 16, 2023

• There is speculation that Elon Musk might consider using DOGE for the Cybertruck, given that the source code contains multiple references to the token.

BREAKING: $DOGE in the source code of cybertruck check out page.

I verified myself.@elonmusk verify yourself please.

👀 pic.twitter.com/0Vori0BLHK

— MartyParty (@martypartymusic) October 9, 2023

Floki Inu vs Dogecoin: Technical analysis

Source: TradingView

While the year 2023 has been full of crypto innovations and developments, the memecoins rose to prominence. With a roadmap ahead of its pipeline innovations, Floki Inu has been grabbing the crypto community’s attention and is set to achieve few of its targets in 2024. On the other hand, DOGE has been the top memecoin per market cap and has remained so since its rise to prominence and the support of Elon Musk.

With the developments and advancements that both blockchains are aiming to achieve, with the help of their bullish community, both DOGE and FLOKI are looking to start the new year with probable ATH values.

Floki Inu Price Prediction 2023

Source: TradingView

The FLOKI price is currently trading at $0.000035 and the crypto community is expecting the token to surpass the $0.000030 levels as we enter the last week of December and aim to reach the $0.000040 level. Given the turn on the crypto space with the anticipation of a surge in 2024, the FLOKI price may also see a surge following the developments it has set in its roadmap.

Dogecoin Price Prediction 2023

Source: TradingView

As the year nears its end, there is potential for the rally to gather more momentum, instilling confidence among traders. A rise in bullish sentiment may propel the price significantly, steering it towards its next target. Notably, the bears are expected to remain subdued, clearing the path for a potential substantial upswing.

DOGE price is still expected to surpass the $0.090 mark and finish the year within $0.092 – $0.098 with a bullish outlook for the Dogecoin price in 2023.

Additional Read: Dogecoin Prediction

Should You Invest in Floki Inu or Dogecoin?

When deciding whether to invest in Floki Inu or Dogecoin, several factors should be considered based on your individual investment objectives, risk tolerance, and market analysis.

While Floki Inu has undergone a significant transformation from its origins as a meme-inspired crypto to becoming a comprehensive web3 project. Dogecoin has been originating as a playful and meme-inspired digital currency in 2013, and has maintained a unique and approachable identity. Encompassing decentralized finance, NFTs, and the Metaverse, Floki Inu offers a multi-chain token, FLOKI, compatible with both the Ethereum and Binance Smart Chain. This dual-chain compatibility provides users with flexibility for storing and transacting their tokens. Notable features of Floki Inu include various NFT portals, the development of an NFT gaming metaverse called Valhalla, and a marketplace known as FlokiPlaces. The project is distinguished by its active involvement in philanthropy, contributing to a positive community image.

On the other hand, over the years, it has developed a substantial and engaged user community known for its community-driven and philanthropic initiatives. Operating on a decentralized and peer-to-peer blockchain, Dogecoin utilizes a proof-of-work consensus algorithm similar to Bitcoin. Dogecoin’s liquidity and high trading volumes on various crypto exchanges attest to its enduring presence in the crypto space.

The decision between Floki Inu and Dogecoin hinges on various considerations. Clarify your investment goals, whether seeking long-term growth, short-term gains, or engaging in speculative trading. Assess your risk tolerance, recognizing the inherent volatility of the crypto market. Conduct thorough research on both projects, scrutinizing their fundamentals, development teams, and future plans. Stay informed about market conditions and trends, as they can significantly impact the performance of crypto.

Considering the speculative nature of the market, it is crucial to approach crypto investments only after thorough research on the projects.

How to Buy Dogecoin or Floki Inu Tokens in India?

Investing in Dogecoin or Floki Inu is extremely simple, fast, and secure with the CoinDCX App. All you need to do is register yourself and verify. To register, follow the below-mentioned steps:

• Download CoinDCX Investment App
• Register by entering your details.
• Complete your KYC
• Once your profile is verified, add funds to your wallet and Buy DOGE or Buy FLOKI.