While Dogecoin and Shiba Inu are engaging in an extremely interesting duel, the market for cryptocurrency records the growth of yet another meme coin. It is about Floki inu, a new project whose name clearly recalls that of the dog of Elon Musk.
The token is getting noticed in particular for one advertising campaign carried out in an extremely aggressive manner, leveraging in particular on the London Underground. In which the placards bearing the inscription stand out "Missed Doge? Get Floki ", destined to arouse the curiosity of passengers most inclined to financial innovation, but not only. So much so that it was also the subject of an article in Financial Times.
Floki Inu's campaign
After all, the advertising campaign was announced last month on the company blog. AND it should be financed by a tax payable by those who buy Floki for the first time.
Among the tasks set by the advertising team in charge of the campaign, there is also that of giving a kind of legitimacy to the project. Due to the fact that, as mentioned by Sabre, the alias used by the company's marketing manager, the cryptocurrency sector is still haunted today by a large number of scammers. From which, with all evidence, Floki Inu intends to take the necessary distance.
While London Underground stations are currently the epicenter of the campaign, initiatives are also planned in Los Angeles, as well as in Japan, Russia and China. For the eastern giant, however, the intention could be thwarted by the recent bans issued by the Beijing government on trading in digital assets.
Possible trouble with British regulators?
The modalities that are distinguishing the Floki Inu campaign, however, could soon lend their side to the intervention of UK regulators. Who, in addition to the technical aspects of a project, are called upon to express their opinion on whether the new cryptocurrencies are advertised as securities or not.
If most crypto ads in the UK are within the purview of the Advertising Standards Authority, Also Financial Conduct Authority claims jurisdictional powers in this area.
A duel which is destined to produce a worrying regulatory vacuum. According to some, able to favor the publication of announcements which do not comply with the rules on investor protection.
The memecoins on boarding
That of memecoins is there trend of the moment. More and more projects aim to retrace the footsteps of Dogecoin and some, in fact, are succeeding. The recall is of course a Shiba Inu, which in recent months has made gigantic steps forward, so much so that it has now entered the Top Ten of the ranking drawn up by CoinMarketCap, which takes into account the market capitalization.
A trend which, if on the one hand it is followed with some amusement by many, on the other hand it starts and worries not a little the most responsible sectors of the cryptographic world. In many cases, in fact, these tokens are born on purely speculative instances, without having any real usefulness. And they put on display incredible volatility levels, such as to be able to prepare a real financial meltdown for those who do not know how to move in this particular niche, but are willing to do so hoping for amazing gains. Which, however, are very often the exclusive prerogative of the so-called whale, that is, those who hold a large number of currencies and can thus orient the markets to their own exclusive pleasure.