Floki Inu Token Price Prediction – Next 3 Years | Reality of 4.97 trillion Floki Inu token burn

Floki Inu coin belongs to the family of meme cryptocurrencies which are generally inspired by social media jokes and influencers. It came into existence in June 2021 after Elon musk tweeted, the name of his pet “Floki”.

Even though birthed as another meme coin, following the footstep of Shiba Inu, Floki is a purpose-driven project with one of the missions of building a state-of-the-art school in every underdeveloped country of the world with countries like Guatemala, Ghana, Laos, and Nigeria already part of the initiative. A combination of meme movement and charitable action helped Floki gain recognition by NASDAQ in 2022 as one of the best metaverse currencies.  

Floki Ecosystem

It comprises 4 utility projects aiming to give people control over their finances.

• Valhalla – Floki’s NFT Metaverse game
• Floki University
• Flokifi Defi Ecosystem – Decentralized Finance products
• Floki Places – NFT & Merchandise Marketplace

What is Floki Valhalla ?

With the advancement of technology, there is a sudden change in the demography of the gaming industry. Understanding the potential of this industry Floki developers introduced Valhalla Floki’s NFT Metaverse game with a robust PlayToEarn mechanism. 

Valhalla promises to provide a unique experience to its players with features like a gardening system, robust battle system, items system, etc. 

Floki tokens will be the key currency in the Valhalla world, reducing the circulating supply of tokens by moving them to the virtual world. Players can advance through the game using the token. 

This initiative is expected to increase utility and drive tokens.

Floki Token Overview

From the time of its launch, Floki has shown significant growth in its early stage giving great returns to its early investors. Since there is positive market sentiment, Floki is expected to give great returns to its investors in the next market run.

Floki Token Price Prediction – Next 3 Years

Year	Expected Minimum	Expected Maximum
2023	$ 0.0000252	$ 0.0000844
2024	$ 0.0000412	$ 0.000154
2025	$ 0.0000597	$ 0.000396

There is an expected bullish movement in Floki Token prices in upcoming years. But since meme coins are highly volatile, prices may vary from expectations based on market sentiment.

Floki Inu Coin News

Reality of 4.97 trillion Floki Inu token burn.

Floki Inu is a multi-chain token that is it is available on more than one blockchain. Currently, Floki is available on Ethereum and Binance Smart Chain with an initial supply of 10 trillion tokens each. Floki provides a multi-protocol bridge to move the tokens from one blockchain to another.  

How does Floki bridge work?

In the bridge arrangement, the user deposit its token on one end of the bridge. Either Ethereum or Binance Smart Chain and an equal amount of tokens are received on the other ends of the bridge. The tokens deposited in the bridge are locked in the bridge and thus out of circulation.

When the bridge was first introduced in 2021, to kickstart the bridge 600 million tokens from its treasury were deposited to the bridge.

Breakdown of Floki token as of Oct 2022

Burnt token :

• Ethereum blockchain – 1.43 trillion
• Binance Smart Chain – 3.50 trillion

Locked tokens :

• Ethereum bridge – 1.16 trillion
• Binance Smart Chain bridge – 4.56 trillion

So, as per the data around 5.72 trillion tokens are locked in the bridge thus out of supply. This means these have no impact on the price of the coin. 

But now arises the developer’s concerns about what if these coins are released back to the market, which will severely impact the stability of the entire Floki ecosystem. And thus the idea of the latest burn is proposed by the team. 

Bridge hacking is a possibility in crypto as seen by various other projects in past, like Axie Infinity’s speedy Ronin bridge was hacked for $622 million. If hackers, hack Floki bridge for its 5.72 trillion tokens and release them. It will shake up the tokenomics of the token and the price of the coin may fall sharply. 

Understanding the criticality team initiated the proposal on Jan 27. According to this, Floki will pass 600 million tokens to the treasury which were deposited to kick start the bridge and burn around 4.97 trillion tokens.

The proposal would not apply to the FLOKI bridge at Multichain.org which currently holds less than 2% of the tokens total circulating supply as that isn’t too significant to pose any serious threat to the project and allows for smaller bridge transactions for users who still want this feature.

The proposal was passed and Floki is set to burn the coins on Feb 9.

This article is for information purposes we suggest you do your own research before investing in any market.