Floki Inu temporarily surpassed Bonk’s market cap, placing the meme coin in the 5th spot of all meme coins. In the dog-themed coins sector, Floki is starring at the 4th position.
Meme coins were boosted in anticipation of a spot ETH ETF approval before the official announcement from the US SEC:
source: coinmarketcap
According to CMC, FLOKI’s price has appreciated more than +70% in the past 30 days. It appears that when the dominant cryptocurrencies, Bitcoin and Ethereum, trend higher, meme coins’ uptrend is amplified.
However, the recent gains have also been contributed to by the release of the Floki trading bot per the roadmap. It is a cross-chain Telegram trading bot that allows traders to buy the desired cryptocurrencies.
Similar bots are available in the crypto market, it is not a new concept. However, it has been proven to be a great success. Take BONKbot as an example.
BONKbot volumes remain elevated
BONKbot was launched at the end of 2023. Since then, over 350,000 users have conducted transactions via the bot.
The trading fees collected by the BONKbot are quite impressive:
source: dune
BONKbot users complained about a possible exploit earlier this year. Users that had their crypto wallets drained and linked it to the trading bot (as the private key was exported to the bot).
The developers reassured that the trading bot was not exploited, as wallets that had never used it were also affected.
The data from Dune confirms the transactions via the BONKbot remained elevated despite the accusations. Floki is attempting to replicate BONKbot’s success.
With over 400,000 FLOKI holders, the new bot is expected to be used extensively.
The bot charges a 1% commission for all carried transactions. 50% of the fees collected will be used to buy and burn FLOKI. Burning is a known method for reducing the token’s supply and taking the tokens out of circulation.
Burning tokens may reflect in price appreciation. The most famous token for burning is Shiba Inu.
To burn tokens, crypto coins are sent to a dead address—let’s call it an invalid address. As a result, the tokens can never be retrieved. We should add that the effect of the burning mechanism on the price from the new telegram bot can take time.
Digital bank accounts in crypto?
As significant as it may be, Floki Inu’s developers also plan Floki-powered bank accounts ahead of the Valhalla Mainnet Launch.
Users can create digital bank accounts, which will be facilitated by a partner licensed in Spain, Canada, Dominica, Australia, and the United Arab Emirates (UAE).
While digital bank accounts are an ambitious goal, the devs must be able to overcome future crypto regulations.
Can Wiener AI trading bot prevail?
Wiener AI is a new blockchain project; the presale is still ongoing. The project will develop an AI-powered trading bot that strives to be a dominant player, ranking among Floki and Bonk.
The main benefit of Wiener AI is that it has the time to study other bots and enhance their functionality.
source: wiener ai
The crypto project centers around meme coins. Wiener AI’s total supply is 69 billion tokens, 30% of which have been set aside for the presale phase.
Over $3 million has been raised, near the presale’s target.
‘Hot’ meme coins that raise significant capital during the presale phase often show high interest in the project.
According to the roadmap, the token will be launched later on a centralized exchange.
Are telegram bots a passing trend?
As long as Telegram remains popular, trading bots will be demanded. Microsoft’s recent launch of its AI-powered Copilot bot on Telegram indicates how popular the bots sector is.
It eases the process of buying cryptocurrencies securely. Any solutions that reduce time-consuming activities have a market.
It may only be a matter of time until you can place orders online via Telegram and pay in cryptocurrencies.
Crypto betting services have developed bots for Telegram, allowing players to place bets on the social platform. The bot handles the transactions.
Bots will likely evolve and improve as we enter a new digital era.
