Floki token developers have just introduced to their community a trading bot based on Telegram, whose collected fees will be partially used to buy back the meme crypto on the market, increasing demand pressure.
The bot will likely be operational as early as mid-June with only the BNB chain network enabled, but integrations with Ethereum and Base are planned for the future.
In the meantime, FLOKI follows the hype of the memecoin and marks another notable graphic performance, approaching its ATH.
Let’s see all the details below.
Summary
Floki: the crypto devs launch a Telegram trading bot that performs token buyback on the market
Yesterday the developers of the crypto meme Floki announced the launch of a Telegram bot that will help the holders of FLOKI to do trading on-chain multi-chain by buying and selling tokens in a few seconds without service interruptions.
The bot aims to simplify the trading experience for the crypto community, offering a tool capable of identifying newly launched coins on decentralized markets and placing buy and sell orders faster than other trading platforms.
According to Coindesk, insiders have revealed that currently the bot is in the closed-beta phase, but it is expected to go live around mid-June, after a 2-week testing period.
This step is essential to detect technical bug and provide feedback to improve the product: The beta version is currently open to the first 150 users on a first-come, first-served basis.
At the time of the official launch, the Floki community bot will be operational only on the BNB chain, while support for Ethereum and Base will be added later.
The strong point of this trading bot concerns the acceleration of the utility and deflation of the FLOKI token, assuming significance as the central currency of the product launched by the developers of the crypto meme.
In fact the bot will charge a 1% commission on all trades initiated through it, with 50% of the revenue being used to buy back tokens and purchase FLOKI on the open market, contributing to the buying pressure.
This will significantly increase the demand pressure on the FLOKI chart, as well as significantly improve the fundamentals of the project.
The team of the memecoin on X, analyzing other similar products on the market, explained how the bot could achieve unprecedented success.
Currently, in fact, the largest bots on Telegram in the cryptographic space at the moment are:
- Trojan: last month it generated fees of 7.03 million dollars.
- BonkBot: last month it generated fees of 6.16 million dollars.
- Maestro: last month generated commissions of 3.2 million dollars
- Banana Gun: last month it generated fees of 6.61 million dollars.
Given and considering that these support only one cryptographic network (with the exception of Banana Gun) the Floki bot could gather much more enticing numbers as expansion across multiple chains is planned.
Furthermore, the enormous reach of the comunità Floki con oltre 480.000 sostenitori and the strength of the Floki brand could make the difference and lead to rapid growth of the trading service. Obviously, the crypto meme will benefit as more trades are conducted with the bot, more tokens will be purchased with part of the fees collected.
FLOKI price analysis: bullish like on PEPE?
FLOKI, crypto launched in 2021 as a meme coin inspired by the Shiba Inu dog breed following the success of DOGE and SHIB, took about a year and a half before achieving major milestones in the cryptocurrency market.
In February 2023 it reached a capitalization of 450 million dollars, while in March 2024 it earned a place as the top meme of the entire industry, reaching a capitalization of 2.35 billion dollars.
Today the crypto is on the verge of replicating the feats of its cousin PEPE, which in these days is recording a graphic performance that is scary continuously marking new ATH in price and trading volumes.
Just yesterday FLOKI printed a green candle of +23% on the daily time frame, which likely identifies the confirmation of the bullish restart of the asset after a brief retracement.
The prices, after momentarily going below the EMA 50 daily during the dip, have re-emerged strongly, stabilizing above it and returning to attack the level of historical highs.
The RSI14 is at 77 points, just entering the overbought zone, suggesting a possible bullish momentum for the meme crypto, which now, to pass the acid test, must hold the level of 0.00028 dollars without being violently rejected.
The volumes are not particularly encouraging like when we witnessed the pump at the beginning of the year, but they are still increasing compared to the averages of April and support the growth of the quotations.
Eyes on the 0.00030 dollars as it could prove to be a key resistance for the fate of the token, above which we would find ourselves in a phase of price discovery, waiting for the market to take its course and establish a fair value for the cryptocurrency.
Attention also to not get caught up in FOMO in delicate moments like these, even though FLOKI is clearly bullish, and remember to carefully calculate the risk/reward ratio to evaluate the convenience of the trade.
“`html
