Watch out for Floki Inu (FLOKI)
In the wake of Shiba Inu's meteoric rise in popularity, there comes another coin based on the Shiba Inu meme. This year, Floki Inu had an increase of almost 100,000% in the second half of the year. However, FLOKI and its meme currency friends have failed since then.
Floki Inu or any of these meme coins might have a resurgence at some point. Looking at the project's fundamentals, there's not much to admire, save for its cheap token pricing and active Twitter presence.
In terms of volatility, this is one of the most volatile coins in the market. This is fantastic when things are going well.
As we've seen, this cryptocurrency has the potential to exacerbate losses for investors during downturns like the one we're experiencing.
That's not a good thing for investors who care about protecting their money.
Floki Inu's low trading volume (under $20 million at the time of writing) is one of the biggest dangers of investing in this coin.
In the current market, FLOKI is among the riskiest tokens since it is not particularly liquid, and its directional changes might be influenced more than those of its rivals.
