Floki Imitators Flood Solana and Base Networks as Team Warns of Scam Tokens

Floki team has alerted users to scam tokens on Solana and Base networks fraudulently associating with the project.

Meme coin project Floki has warned users about scam tokens on Solana and Base networks that are fraudulently associating with the project.

In a post on its official X handle, the Floki team stated that FLOKI is only available on Ethereum and BNB Smart Chain (BSC), listing the token contract addresses on the network.

The warning comes as several meme coins imitating Floki have cropped up on Solana and Base networks. A quick search on GeckoTerminal will reveal several meme coins with Floki in their name. However, most of these imitators have a micro market cap, only valued at a few thousand dollars, compared to the original coin’s $1.6 billion market capitalization.

“It has come to our attention that there are scams claiming #Floki has a token on #Base or #Solana. Please note: $FLOKI is ONLY tradeable on the $BNB and $ETH chain. Any other claims are false and an attempt to decieve. Stay safe and always verify information from official sources,” the project’s team stated.

However, these scam tokens could easily mislead new investors, considering Solana and Base are popular networks with high memecoin trading volumes. Earlier this year, BeInCrypto reported that investors were turning to these networks for potential low-cap tokens with high return possibilities.

Despite limiting itself to BSC and Ethereum, Floki has made significant efforts to expand its ecosystem. The project released a report for the first half of the year, highlighting the launch of Floki Name Service and a Trading Bot.

Floki also partnered with Web3 investor and market maker DWF Labs, leading to the firm purchasing $22 million worth of tokens. Another partnership was forged with the Web3 browser Carbon, which could enhance meme coin’s presence. Additionally, its DAO burned approximately 2% of token supply to drive the long-term security and stability.

“Looking ahead, Floki’s roadmap outlines several exciting developments. Key milestones include the Valhalla Mainnet Launch, which promises to bring a new dimension to the Floki ecosystem with its flagship metaverse game, and the launch of the University of Floki, aimed at providing educational resources,” Floki team added.

These developments have positively impacted Floki’s price. Although the asset is down about 35% in the last 30 days, it is up 359% year-to-date, according to BeInCrypto data.

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