Lil Floki token did a massive pump yesterday on crypto market app. As I always do, I have decided to review the token. To help you decide whether the coin is worth the hype. And to uncover major scams, scammers in the industry plot.
I told my readers the SQUID token is a scam. And, it turned out to be one.
If you are about to buy Lil Floki token, but you are wary and unsure if it is legitimate or a scam token? or maybe you are just curious about it. I have done all the heavy lifting and investigations on your behalf. All you need do is to read through this article. But before I begin, here’s a an important disclaimer you need to read.
First, I’ll like to let you know that, I’m not a banker or a financial expert. I will not be held responsible for your financial decision or indecision. This article is just a guide. I’m not here to promote or disparage any coin, hell, I don’t even know their creators. I consider my analysis to be objective and fair. If you are not satisfied with the things I say, you can always do your own research.
With that out of the way, let’s begin.
When I am investigating a new token, the below are the things I look out for.
Developers behind the project
What people are saying about the
(If you are a frequent visitor of this website, you should know this already )
I will go on to explain these points, as it relates to Lil Floki token in the following paragraphs.
But before I do that. This is a little ‘history’ of the token, according to coin market cap.
“LIL FLOKI has been designed to be a deflationary token which rewards you in $BNB simply for holding Lil Floki Tokens! Named after Elon Musk’s new Shiba Inu puppy, Floki. Lil Floki was launched on the 25th of September 2021 by 2 New Zealand based developers, Alice Morgan & Hisham Macpherson. They both have a love for dogs, so they designed this BSC token to have a huge charity focus to it. Their primary mission is to be able to regularly support local dog shelters in New Zealand. With reward tokens on the rise in BSC they decided to introduce a low buy and sell tax token. Donations are made regularly to New Zealand Dog Charities using the designated buy-back / charity wallet with 7% of every transaction going into this wallet to fund this. Elon Musk lived up to his promise and bought a Shiba Inu dog, naming it Floki, thus the idea of Lil Floki was born.”
My opinion of Lil Floki’s ‘history’
The Elon Musk’s dog inspired memecoin era apparently isn’t over yet. I can say there are more Musk’s dog themed memecoin out there than dog species in the world. I’m sorry, I just had to get that one off my chest.
The lil Floki token’s website is an okay one. I don’t want to call it average, because, apparently average sounds insulting to some people. There is absolutely nothing is worthy of note that is on the website. It is however, an efficient website though. It does the job.
The description on the website is all about Elon Musk. The two developers of the token must be obsessed with the the guy. Elon Musk this, Elon Musk that. It is just heart breaking. The website description absolutely had nothing to say, aside injecting Elon Musk into every available space possible.
Yeah, they said something about the tokenomics, but I’ll be explaining that in the white paper.
The white paper of Lil Floki is a 9 paged ‘cartoonish’ Pdf.
The first part of the whitepaper, that is the “about us” section clearly states
“Lil Floki is the latest token to envelope the BSC space which combines Elon Musk’s influential Shiba Inu Puppy called Floki while also rewarding Lil Floki holders with $BNB Reward pay-outs. This strategic decision to call the project Lil Floki was made as Elon Musk, being the trendsetter that he is, every time he would tweet about his dog it would create more hype around the Lil Floki token for our investors.”
This project is basically built around hype. And I can mention about 10 other projects that are built like this without looking at a paper. While few really succeed, many others don’t. One of the Lil Floki biggest claim is to reward holders with BNB. They reward holders 1% BNB with the tax coming from the buying and selling activities around the token
The project has no real world use case, ‘yet’. Its just hopes to build a large community with hype and do dog charity in New Zealand. But that is what doge, Shiba inu and even safe moon did, so you can’t discredit it. It will pump when Elon tweets about his dog.
Here’s the white paper confirming what I’m saying on the Why Lil Floki section
“As well as this, the association of being part of the Shiba Inu family and with Elon Musk having bought his own Shiba Inu Puppy that he himself called Floki, we will harvest and ride on the wave of every one of his tweets that mention his Dog. No doubt he will be posting photos and updates of his puppy all over his twitter so we will be creating marketing campaigns and seizing every opportunity around this free and powerful marketing.”
Lil Token charges you 13 percent upon buying. And takes 13 percent off you when you are selling. They 13 percent tax is shared across the various interest areas of the token.
Like many memecoin, Lil Floki has a total
Supply of 1 quadrillion. For perspective, 1000000000000000.
They have a clear roadmap of what they want to achieve. And they are pretty serious with their marketing efforts.
Market Cap and Liquidity Pool
Lil Floki’s market cap and liquidity pool seats at a respectable $6,506, 449. For a token that was launched just 2 months ago. This is impressive. If Elon Musk keeps tweeting and the developers keeps working hard on marketing, I see the market cap progressively increasing.
The liquidity pool has a combined total of $300k. With 85% of it locked in a contract. Now, I can’t access the lock time frame. However, the white paper claims it is a one year lock. This is very healthy, the chances of getting rug pulled has been reduced to the bares minimum.
Over 8,000 people are holding this token. This means that the token is still in it infancy stage. You are early to the party, that’s if you want to invest. 8k+ people holding give you some form of confidence in the project.
Developers of the token
Like I mentioned earlier (coinmarketcap description of the token), the developers of Lil Floki are Alice Morgan & Hisham Macpherson. The creators of the Lil Floki token are known, you can use google to check them out. This is called being “doxxed’ in the crypo space. And it is a positive sign. It gives the lil Floki project an of legitimacy edge. At least, investors know, the developers will most probably not rug pull and disappear without consequences. I love a token with a face, it is even better when they are two or more faces.
What people are saying about the coin.
On twitter, there seem to be an air of excitement around the token right now as of the time of writing. Please, take that excitement with a pinch of salt. The cause of the excitement is obvious because, Elon tweeted about his dog, and predictably, the token pumped.
On YouTube, many folks are announcing it as the next Shiba Inu. There are many projects people see as the next shiba Inu.
On telegram, investors are happy about the pump. Someone said he bought the token on the 5 of October, after he bought the token, he began to pray and wish Elon Musk would tweet about the his dog. His prayers were answered, as Elon tweeted about his dog yesterday.
I’m pretty conservative about Tokens like this. I however believe that, the developers want to make this token work, they are honest with their claim, I can see that. Therefore, it is not a scam coin.
My only problem is, a lot about the token is built around hype and trends, that is what I personally don’t like about it. Like what if the dog Floki dies tomorrow? Or even what if Elon Musk dies? Yeah, maybe that’s maybe too pessimistic.
Asides these concerns, this token is a proper memecoin that is building a big community and has potentials.