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Floki issues warning about fraudulent tokens on Solana and Base
Floki team warned users about token scam on Solana and Base networks fraudulently join the project.
In a post on its official handle X, the meme coin team explicitly stated that FLOKI was only on Ethereum and BNB Smart Chain (BSC), listing the addresses of token contracts on the network.
Floki impersonators flood Solana and Base
The warning comes amid the proliferation of Floki-imitating meme coins on Solana and Base networks. A quick search on GeckoTerminal will reveal several meme coins with Floki as part of their name. However, most of these imitators have a micro market cap worth only a few thousand dollars, a far cry from the original coin’s $1.6 billion market cap.
“It has come to our attention that there are scams stating that #Floki has a token on #Base or #Solana. Note: $FLOKI is ONLY tradable on the $BNB and $ETH chains. Any other statement is false and attempts to deceive. Stay safe and always verify information from official sources,” the project team declared.
However, these scam tokens can easily fool new investors as Solana and Base are popular networks with high memecoin trading volumes. Earlier this year, BeInCrypto reported that investors were addressing these networks for potential small-cap tokens with high return potential.
To know more: How to Buy Solana Meme Coins: A Step-by-Step Guide
Despite being limited to BSC and Ethereum, Floki has made great strides in expanding its ecosystem. The project released a report for the first half of the year, which shows the launch of Floki Name Service and a Trading Bot.
Floki has also collaborated with DWF Labs, Web3 investor and market makerwhich led the company to purchase tokens worth $22 million. Another partnership was with Web3 browser Carbon, which could enhance the presence of meme coins. Additionally, it is DAO it burned around 2% of the token supply to drive the long term safety and stability.
“Looking ahead, Floki’s roadmap outlines several exciting developments. Key milestones include the launch of Valhalla Mainnet, which promises to bring a new dimension to the Floki ecosystem with its flagship metaverse game, and the launch of Floki University, aimed at providing educational resources,” the Floki team added.
To know more: 7 trending meme coins and altcoins in 2024
These developments have had a positive impact on the price of Floki. Although the asset is down about 35% in the last 30 daysit is up 359% year to date, according to data from BeInCrypto.
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