Is FLOKI Inu Cryptocurrency A Massive Scam? Twitter Users Blow The Whistle

FLOKI Inu is one of the most popular memecoins today. The cryptocurrency has gained popularity among holders and crypto enthusiasts. It has generated great returns for the investors as well. However, off-late, many Twitter users have blown the whistle on FLOKI project being a potential ‘scam’ or ‘rugpull’ in the making.

If you’re not aware, Floki Inu is a crypto birthed from the Shiba community and named after Elon Musk’s pet. It recently revealed that it is now set to follow in the SHIB token’s footsteps by transitioning into a Decentralized Autonomous Organization, or DAO for short. To preface this, DAO is a community-led entity with no central leadership, thereby promoting transparency and autonomy.

What Are Twitter Users Saying?

Let’s look at the second side of the coin; the side where people are accusing Floki Inu of being a massive rug pull. One Twitter user pointed out the Tokenomics of Floki Inu to be poor.

“To the holders of Floki, beware of Flokinomics. It is a BIG scam. Personally lost money in this project. RT and spread awareness.”

Back in November 2021, Twitter user Ashley David sent an alarm when she wrote the following:

“Beware #flokiscam they r dropping in value 4 days straight, pretending to be a team, domain BL spam along with a ton of crypto spam domains on same server, no budget for team to manage social, hammered on YT and reddit, fake 3d street ads, fake accounts reposting ‘ads’… beware”

SafeSolarStar and Floki INU

On top of that, if a thorough analysis is done between SafeSolarStar and FLOKI, it gives a vague idea that both the projects might be having the same developer. While working on two projects at the same time is not a matter of concern, but when one project (SafeSolarStar) rug pulls its investors, the concern arises.

Looking at the tokenomics of FLOKI, there is no major discrepancy that can be spotted. While the supply of FLOKI is concentrated heavily in a few wallets, so is the case for many other memecoins. While there is no certainty that FLOKI is a scam, one must still be cautious before investing in cryptocurrencies.

Floki Inu has now come to seen as a strong contender in the meme-coin market nowadays. Let’s find out whether or not Shiba Inu fares better than Floki Inu.

What do you think about the whole story? Tell us your thoughts in the comments.

Shaheer is passionate about living a life seeking un-ending knowledge, philomath, as you may think of him. He's a student of Finance and a keen observer of Business and Indian-Political scenario who takes pleasure to pen down his views and opinions on the same. As his guiding mantra to life, ‘Come what may , life goes on’ helps.

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