Recently the rise and popularity of meme coins is extreme and crypto enthusiasts cannot have enough of this exponential growth potential. Due to this crypto lovers are on the lookout for the next big meme coin so that they can invest early and earn big returns.
Out of the hundreds of new coins launching every day, only a few really stand out and last longer than a few weeks. Baby Floki is one of those tokens that has caught the attention of many, launched fairly with a $2k market cap around 6 weeks ago, days after Elon Musk adopted his baby pup named Floki, the token has already broken all time highs one after another. Despite the disadvantageous circumstances and market instability at the time of launch, with a current strong standing of $8 million market cap and a community of 18,000 holders at the time of the report.
Since then, the developer team has been actively working on building a strong community with their marketing strategies. The team is raising brand awareness through the released NFTs and jingles and most importantly, making a positive impact in the world through charity work.
Charity Cause
As a community-based token, one of its major goals during launch was to give back something to the community through donations to charities and other reputable causes. The token took its first steps in this direction last week with a generous $10k donation to “Hope For Paws”, a charity organization that rescues abused and abandoned animals. The project provided them with the love and care they needed. However, they’re not stopping here, a wallet has already been set-up for a second donation, which will see contributions to it from the community directly matched from the developer team and afterwards donated to a charity chosen by the $BabyFloki holders. In addition to all this, 25% of all NFT sale profits go to charity.
The Elon Effect
Let’s face it, Elon Musk, being the wealthiest man alive, a tech genius and a crypto enthusiast, has a lot of influence on the crypto world and more so in the memecoin market. His influence is to the point where he started receiving comparisons to King Midas of Greek mythology, for his ability to turn everything he touches into gold.
Crypto enthusiasts have already seen the impact he has had previously on several other coins such as Dogecoin and BabyDoge, which saw exponential surges in price and market cap right after a tweet from him. Ever since then, most memecoins have been trying to get the Tech billionaire’s “approval” to become the next big thing, with desperate attempts to get his attention through raids on his official Twitter account, but not many have succeeded. Baby Floki however, is taking a different approach in this regard, on their third day after launch (which was also a week after he got his puppy) they set up a billboard right next to SpaceX headquarters in California and welcomed his baby Floki to the family. In addition to that, they pay their rewards to holders in Dogecoin (the crypto fanatic’s favorite coin) and have even prepared a wallet for Floki (Yes, the dog) to claim and join the community!
