Floki Inu issues THIS urgent warning as prices drop 11%

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    FLOKI issues a warning against scam tokens.
    FLOKI declines by 11.10%, but MACD signals bullish momentum.

As an experienced analyst, I’m closely monitoring the developments surrounding Floki [FLOKI], a multichain token that has recently issued a warning against scam tokens falsely claiming association with its brand on Solana and Base blockchains. This warning came after numerous fraudulent tokens appeared, misleading investors and potentially putting their investments at risk.

As a crypto investor in FLOKI, I’ve received an important update from the team regarding a recent scam. They’ve warned us about counterfeit tokens deceitfully claiming affiliation with their brand on X (previously known as Twitter). Stay vigilant and double-check any information before making any investments to protect yourself from potential fraud.

What’s the warning all about?

As a researcher investigating recent developments in the cryptocurrency market, I’ve come across a concerning issue involving the Solana and Base blockchains. Lately, there has been an influx of fraudulent tokens appearing on these platforms, deceitfully luring unsuspecting investors. This discovery necessitated issuing a warning to protect potential victims from potential financial losses.

To keep its community safe, Floki sent out a warning via its X handle, stating,

We’ve discovered that some fraudulent schemes are falsely advertising that Floki has a coin on Base or Solana. Important reminder: The only places where you can trade $FLOKI are on the BNB and Ethereum networks.

To offer further clarity, Floki shared its official chain addresses with its users.

Community reacts

The community responded to the news in various ways, with numerous individuals voicing their relief and sharing relevant anecdotes on social media. A notable X user by the name of TourBillion expressed his sentiments on the platform.

“Yesterday, someone said Floki has a token on $Doge.” 

Another X user Roro X  said,

“When #FLOKI explodes, it’s the best crypto in the world and when it goes down, it’s a scam!”

Floki’s roadmap ahead

In the face of recent controversies and deceitful practices involving some cryptocurrencies labeled as “tokens,” FLOKI persists in its dedication to advancing and delivering value to its user base.

Recently, the memcoin centered around dogs revealed its detailed plan for 2024, outlining several new features and projects aimed at enhancing its functionality.

These plans include offering regulated digital banking accounts, allowing users to create and fund bank accounts using FLOKI tokens.

FLOKI’s commitment to broadening its platform and offering beneficial services to its user base is highlighted through this endeavor, despite encountering numerous obstacles.

FLOKI’s price action

Currently, despite the issued warning, it appears that FLOKI‘s price behavior has been influenced by the reported scam. As per CoinMarketCap, the coin was trading at $0.0001558, marking a 11.69% decrease and indicating robust downward pressure.

The MACD technical indicator being above its signal line, coupled with a green histogram sitting above the zero line, signifies that purchasing activity is surpassing selling activity in the market.

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2024-07-04 16:08