Yesterday, Shiba Inu overtook Dogecoin in total market cap. But today all eyes are on Floki Inu after it grew by over 200% in just one day.
Floki Inu now has a value of $0.00019519, a drip from the ATH of $0.00021552 that it reached yesterday. The coin, which was released in July of this year, has gone up 223% over the previous 24 hours.
There are several reasons for this such as the fact that the creators of Floki Inu filled London with advertisements from buses to subway stations claiming that for those who didn’t get into Dogecoin by now, they should focus on Floki Inu.
The ads actually popped up earlier, but many websites started covering the story only now.
On top of that, developers have changed the fee structure by lowering the tax that is normally asked for any transaction; at the same time, “reflections” were removed completely.
The developers confirmed that the decision to remove the royalty-like rewards “reflections” came as a result of regulatory concerns.
“We’re in talks with several major CEXs about listing FLOKI. For these exchanges, compliance is the number one priority. In other words, even if there is the off-chance that FLOKI would be deemed a security, a listing will be difficult. Removing reflections fixes this!”
The tax for Floki Inu fell to 3% from 8% with the tax money going to developing the overall ecosystem around the meme token.
As of now, Floki Inu seems to have a bit over 170,000 holders in total. The coin registered $203 million in total trading volume over the previous 24 hours.
Since it was released in July, the token increased its value by 250,000%.