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

As a seasoned crypto investor with a background in blockchain technology and trading, I’ve been closely monitoring the market for promising projects. The recent surge in FLOKI’s price has caught my attention due to its association with the launch of Floki’s cross-chain trading bot.

The announcement of FLOKI’s upcoming cross-chain trading bot in closed beta caused a surge in investor interest, resulting in a 14% increase in its price.

As a crypto investor, I’m thrilled to share that the price of FLOKI experienced a significant surge of approximately 14% on May 28. This uplift can be attributed to an exciting announcement made by the project’s X account on Telegram. They unveiled the launch of Floki’s trading bot’s closed beta, which is now compatible with multiple blockchain networks. I believe that this development has instilled a renewed sense of confidence in the FLOKI community and may lead to further growth in the near future.

In a recent post on X, Floki announced that the closed beta, currently active on Ethereum, BNB Chain (previously known as Binance Smart Chain), and Coinbase’s Base blockchain mainnets, provides an opportunity for 150 users to gain early access on a first-come, first-served basis.

We are thrilled to announce that the closed-test network version of Floki trading bot is now live on Ethereum, BNB, and Base blockchain mainnets!— FLOKI (@RealFlokiInu) May 28, 2024

As an analyst, I’ve discovered that the multi-chain Telegram bot enables users to execute cryptocurrency transactions across various blockchains. A notable aspect of the Floki trading bot lies in its fee mechanism, which levies a 1% charge per trade. Of this fee, 0.5% is allotted for purchasing and incinerating FLOKI tokens, serving as the primary utility token within the bot’s ecosystem. The remaining 0.5% is added to the Floki Treasury.

The announcement explains that the mechanism has been developed to enhance FLOKI’s functionality and speed up its deflation process, ultimately raising its worth.

As a beta tester, I’ll be partaking in the closed testing phase that is scheduled to run for two weeks. My role during this period will involve providing valuable feedback to enhance the product’s user experience, identifying any bugs that may hinder its performance. To contribute effectively, I am required to submit weekly reports detailing my findings and engage in trading a minimum of four times per week. At the conclusion of the beta testing phase, an end-of-beta survey will need to be completed for comprehensive analysis.

Individuals who complete these assigned tasks during the beta phase will be rewarded with cryptocurrency in their bot accounts once the testing period concludes. The specifics regarding the rewards will be disclosed at a later time. Subsequently, FLOKI’s value surged by 14%, reaching $0.0003037 according to CoinMarketCap’s data.

According to crypto.news’ earlier report, the price surge of FLOKI could be attributed to various reasons beyond just market speculation. These factors might include Coinbase’s decision to list the token in its perpetual futures market and the U.S. Securities and Exchange Commission (SEC) approving Ethereum-based ETFs. Given that FLOKI, PEPE, and SHIB all operate on the Ethereum network, it’s reasonable to assume that their values would be influenced by such regulatory actions.

Read More

2024-05-28 14:40