A derivative of something weak that is a derivative of something that is also weak can be great can’t it? That’s what Floki Inu (CCC:FLOKI-USD)) fans want you to believe.
But Floki Inu isn’t great. It’s simply a trader’s tool. It’ll attempt to build use cases in order to justify a legitimate future. Don’t be fooled by that. That is the lineage of Floki Inu. What do I mean by that?
I began by referring to Floki Inu as a weak derivative of a weak derivative. It was created out of Shiba Inu’s (CCC:SHIB-USD) meteoric rise.
But Shiba Inu is hardly strong. I’d characterize it as another attempt to fool investors into believing that the project will create real utility after gaining fame unpredictably.
That’s the pattern. Shiba Inu was created on the coattails of Dogecoin (CCC:DOGE-USD), which arose out of meme fame. It doesn’t have any real utility either. Floki Inu simply followed suit. The whole dog-inspired coin t can be aptly characterized as a strange phenomenon.
Anyway, the point I’m attempting to make is simple: Dogecoin led to Shiba Inu, which in turn led to Floki Inu. Each caught on and made some individuals serious amounts of money. Traders profited. But each meme coin is now trying to convince followers that they are to be taken seriously.
In the case of Floki Inu that is being done through philanthropy.
The team behind Floki Inu recently announced that…