FLOKI

FLOKI’s price jumped 14% as the announcement of the Floki cross-chain trading bot’s closed beta launch seemingly ignited investor excitement. 
The price of <a href="https://crypto.news/tag/floki/" target="_blank" rel="">FLOKI</a> surged 14% on May 28 after the project’s X account announced the launch of the Floki trading bot’s closed beta on <a href="https://crypto.news/tag/telegram/" target="_blank" rel="">Telegram</a> with support for multiple blockchain networks. 
In <a href="https://x.com/RealFlokiInu/status/1795278348190396711" target="_blank" rel="">an X post</a>, Floki said the closed beta, now live on the Ethereum, BNB Chain (formerly Binance Smart Chain), and Coinbase’s Base blockchain mainnets, offers early access to 150 users on a first-come, first-served basis. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 宣布： Floki 交易机器人封闭测试版主网启动 FLOKI交易机器人封闭测试版主网启动 我们很高兴地宣布在以太坊、BNB 和 Base 区块链主网上推出 Floki 交易机器人封闭测试版！ 测试版目前向首批 150 名用户开放，先到先得。 Floki 交易机器人是一款创新的多链 Telegram… <a href="https://t.co/6vDaEEyrV3" target="_blank" rel="">pic.twitter.com/6vDaEEyrV3</a>— FLOKI (@RealFlokiInu) <a href="https://twitter.com/RealFlokiInu/status/1795278348190396711?ref_src=twsrc%5Etfw" target="_blank" rel="">May 28, 2024</a>
 </blockquote>
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
With the multi-chain Telegram bot, users can buy and sell cryptocurrencies across different blockchains. A key feature of the Floki trading bot appears to be its fee structure, which charges a 1% fee on each trade. Half of this fee is used to purchase and burn FLOKI tokens, which function as the bot’s main utility token, while the remaining half is deposited into the Floki Treasury. 
 You might also like: <a href="https://crypto.news/floki-wif-bonk-top-gainers-as-meme-coins-take-over-markets/" rel=""> FLOKI, WIF, BONK top gainers as meme coins take over markets </a> 
The announcement reads the mechanism is designed to boost the utility of FLOKI and accelerate its deflation, thereby increasing its value. 
The closed beta, set to last for two weeks, will reportedly gather user feedback and identify any potential bugs. Participants are required to submit feedback reports, trade a minimum of four times per week, and complete an end-of-beta survey. 
Those who fulfill these tasks will receive rewards in their bot wallet at the end of the beta period, with details about the rewards to be announced later. Following the news, FLOKI’s price witnessed a 14% increase, soaring to $0.0003037, as per CoinMarketCap. 
As crypto.news reported earlier, the price pump for FLOKI could also have come from other factors like Coinbase&nbsp;<a href="https://x.com/RealFlokiInu/status/1793681003011084308" target="_blank" rel="">adding</a>&nbsp;the token to its perpetual futures list, and the U.S. Securities and Exchange Commission’s (SEC) approval of&nbsp;<a href="https://crypto.news/tag/spot-ethereum-etf/" rel="">Ethereum ETFs</a>. Since Floki operates on the Ethereum (<a href="https://crypto.news/price/ethereum/" rel="">ETH</a>) network, it would make sense for tokens built on the blockchain, like FLOKI,&nbsp;<a href="https://crypto.news/price/pepe/" rel="">PEPE</a>, and&nbsp;<a href="https://crypto.news/price/shiba-inu/" rel="">SHIB</a>, to benefit from the SEC’s actions. 
 Read more: <a href="https://crypto.news/bonk-surpasses-floki-inu-to-become-fifth-largest-memecoin/" rel=""> BONK surpasses Floki inu to become fifth largest memecoin </a>

FLOKI price soars 14% following launch of Telegram-based trading bot

crypto.news

Other articles published on May 28, 2024

Analysts Predict XRP Price Surge

Analysts Name These New Altcoins as ‘Solana Killers’ That Сould Gain Over 3500%

Bitcoin in the Red Zone: Legendary Analyst Reveals What to Expect Next – Should We Worry?

MoonBag Presale vs Established Players - Can the Newcomer Surpass Solana and Avalanche in the Bat...

Binance Announces Lista (LISTA) Megadrop Is Open; Token Listing On June 20

Ledger finally ships Stax hardware wallet after months of delays

Join our free newsletter for daily crypto updates!