FLOKI in profit or not? Here’s what its latest partnership means for memecoin

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    Floki Inu announced a partnership with PL club Nottingham Forest in an effort to boost its brand recognition
    FLOKI has delivered better returns than BTC and other high-cap alts, including memecoins

As a seasoned crypto researcher with years of experience navigating the volatile and intriguing world of digital assets, I find myself quite intrigued by the recent moves made by Floki Inu. The partnership with Nottingham Forest FC is a smart play, leveraging the power of sports to boost brand recognition and credibility. This move, while not immediately impacting the spot market in this case, could prove to be a strategic long-term decision, especially considering the growing influence of sports collaborations within the crypto space.

In recent times, the world of meme coins has seen a burst of newcomers such as Notcoin (NOT) and Dogwifhat (WIF). These fresh faces have drawn the attention of investors seeking portfolio diversity, primarily because of their unpredictable and high-risk characteristics.

Despite the passage of time, popular meme-based cryptocurrencies such as Dogecoin (DOGE), Shiba Inu (SHIB), and Floki (FLOKI) continue to maintain their significance in the crypto world.

Currently, when we look at the data from TradingView, it shows that FLOKI is among the top-performing cryptocurrencies so far this year, boasting a rise of nearly 210%.

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During this timeframe, DOGE and SHIB experienced increases of 9.45% and 23.70%, respectively. On the other hand, a fresh entry called BRETT saw a rise of 32%. However, it’s PEPE that has outperformed them all, skyrocketing by an impressive 410%.

FLOKI among the top memecoins in holder profitability

As an analyst, I’ve observed that Floki’s price movement this year has predominantly left those who hold the coin with profits, placing most speculators in the green zone.

Based on data from IntoTheBlock, as of August 15th, FLOKI ranked second among meme coins, with a significant number of its holders holding onto profits. In fact, approximately 70% of FLOKI’s holders were in profit at the time of writing, when the coin was trading at $0.000117. This compares to about 72.75% of Dogecoin holders who were also in profit, with DOGE trading around $0.1034 at that time.

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Approximately 61.5% of Mog Coin (MOG) owners saw a profit, while 56.06% of Pepe (PEPE) owners had positive returns. In contrast, only about half of Shiba Inu (SHIB) holders realized profits on their investments. This makes SHIB an exception among the top memecoins by market capitalization.

Floki Inu presses ahead with high-profile sports collaboration

As a long-time fan of soccer and cryptocurrency, I couldn’t help but feel excited when I heard that Floki Inu had partnered with Nottingham Forest FC for the 2024/2025 season. Having followed both the meme crypto project and the club for years, it’s incredible to see them come together in such a strategic partnership.

Boosting its credibility, this increased visibility is likely to draw in new users to its environment. Moreover, the partnership underscores the altcoin’s ties to innovation and expansion, empowering it to carve out a more robust position within its rapidly advancing and cutthroat market segment.

1. Floki Inu is proactively working to develop practical applications for the FLOKI token and creating genuine uses for the brand in everyday life.

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As a seasoned crypto enthusiast with over a decade of experience in the digital asset market, I am genuinely excited about Floki Inu’s recent announcement regarding the development of their 3D metaverse NFT game, Valhalla. Having witnessed the growth and evolution of blockchain technology and gaming platforms, I can confidently say that this move will significantly strengthen Floki’s position in the game finance sector.

In this game, which takes place within a world inspired by the Vikings, it brings together classic gaming features alongside blockchain technology. This enables players to engage in activities such as trading, combat, and amassing items that hold value via decentralized financial systems.

FLOKI’s price outlook

The recent achievements within the Floki Inu system suggest that it aims to grow beyond being just a meme coin, venturing into Decentralized Finance (DeFi) and Gaming Finance (GameFi) sectors as well.

Despite our collaboration with Nottingham Forest, there was no uptick in the market for our memecoin, as it plunged along with other digital currencies during its midweek trading period.

On Thursday, the price of FLOKI dropped from $0.00012 to $0.000113, but then climbed back up to $0.000117 earlier today. The continuous selling pressure today drove FLOKI down to a daily low of approximately $0.0001105.

Indeed, over the past month, the value of FLOKI has decreased by approximately 37.45%, which its owners are eager to see reversed as quickly as possible.

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2024-08-17 11:04