Floki Token Creators Unveil New Trading Bot on Telegram
The Floki token team has recently unveiled a new Telegram-based trading bot for its community. This bot, which incorporates a fee structure, will allocate a portion of its earnings to repurchase Floki tokens from the marketplace, thereby boosting demand.
Anticipated to be up and running by the middle of June, the bot will initially function exclusively on the BNB chain network. However, plans to incorporate Ethereum and Base are in the pipeline.
In the shadow of the memecoin frenzy, FLOKI is exhibiting impressive chart performance and is nearing its all-time high (ATH).
Detailed information can be found below.
Floki: Developers Release a Telegram Trading Bot for Token Buybacks
The Floki cryptocurrency developers have proudly introduced a trading bot via Telegram, designed to facilitate on-chain, multi-chain trading for FLOKI holders, enabling seamless token exchanges within seconds and without any downtime.
The bot is engineered to streamline the trading process for crypto enthusiasts. It can detect newly issued coins on decentralized exchanges and execute quick buy and sell transactions, outpacing other trading services.
Insiders cite Coindesk for revealing that the bot is currently undergoing closed-beta testing, with a public rollout anticipated around mid-June following a brief two-week evaluation period.
This phase is pivotal for discovering any potential technical bugs and amassing feedback to refine the bot, with early access granted to the initial 150 participants on a first-come, first-served basis.
Upon its official unveiling, the Floki trading bot will operate only within the BNB chain, before expanding to support Ethereum and Base networks.
The trading bot’s unique feature is its capability to increase the utility and foster the deflation of the FLOKI token, which becomes the cornerstone currency of this developer-launched product.
In practice, the bot levies a 1% fee on each transaction it handles. Half of the revenue generated is then allocated to perform token buybacks and accumulate FLOKI on the open market, thereby amplifying the demand.
This strategy is expected to significantly heighten demand for FLOKI, consequently bolstering the crypto project’s underlying fundamentals.
The memecoin’s development team is confident that, considering the performance of comparable products on the market, their bot has the potential for success never before seen.
At present, the largest Telegram bots in the crypto space include:
- Trojan: last month it accrued $7.03 million in fees.
- BonkBot: last month it collected $6.16 million in fees.
- Maestro: last month it amassed $3.2 million in commissions.
- Banana Gun: last month it tallied up $6.61 million in fees.
Given that these bots currently support only one crypto network (Banana Gun being the exception), the multi-chain capabilities of the Floki bot may attract significantly higher numbers.
The Floki community’s massive support base of over 480,000 advocates, coupled with the strong brand presence, may catalyze the swift growth of this trading service. Without a doubt, as the frequency of trades via the bot increases, more tokens will be bought using the fees collected, benefiting the memecoin.
FLOKI Price Analysis: Is it mirroring PEPE’s Bullish Trend?
FLOKI launched in 2021 as a memecoin inspired by the Shiba Inu dog breed, in the wake of DOGE and SHIB’s success. It took roughly eighteen months for the crypto to hit significant milestones in the market.
In February 2023, it reached a market cap of $450 million, while in March 2024, it climbed to the industry’s top memecoin position with a market cap of $2.35 billion.
Today, the crypto is on the cusp of emulating the successes of its counterpart PEPE, which has recently been experiencing a staggering chart performance, consistently registering new ATHs in price and trading volume.
Just yesterday, FLOKI charted a +23% surge in its daily time frame, an indication that may confirm a bullish resurgence of the asset following a slight pullback.
Following a slight dip below the EMA 50 line, the prices have rebounded significantly, consolidating above this threshold and challenging the historical high levels.
The RSI14 level has hit 77, signifying a foray into the overbought territory—a potential harbinger of a bullish momentum for the memecoin. Now the asset faces a critical test; it needs to sustain the 0.00028 dollar level without facing a harsh rejection.
Trading volumes, although not as robust as during the year’s start, are on an uptrend when compared to the April averages, backing up the bullish price movement.
Attention focuses on the 0.00030 dollar mark as a possible pivotal resistance for the token’s destiny, where a breakout would mean a phase of price discovery, leaving the market to chart a fair value for the cryptocurrency.
It is also vital to avoid being carried away by FOMO during such volatile times, despite FLOKI’s apparent bullish sentiment, and always to take the risk/reward ratio into account when deliberating trade decisions.
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