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‘Put that in your headline’: Floki Inu coin slammed

·2-min read
A screenshot of the Twitter post by CoffeeZilla and Elon Musk's dog Floki.
The Floki Inu coin, names after Elon Musk's dog, has been slammed on Twitter as a 'ponzi scheme' (Source: Twitter @elonmusk/ Twitter @coffeebreak_YT)

The Floki Inu coin has been slammed in a Twitter thread with one user calling it a “glorified ponzi scheme”.

CoffeeZilla, a YouTuber known for calling out online scams, posted on Twitter today calling out financial influencers for “uncritically pumping up” cryptos that he believes are scams, calling the practice “disgusting”.

The tweet spurred a wild debate in the thread, with vehement defenders on both sides of the proverbial coin.

“We have seen this song and dance more than once. First he comes after #dogecoin, then #MillionToken and now #FLOKI . How many times will he be wrong or in other words how many doors are [sic] he going to close to his followers? #Crypto,” one user replied.

“The whole crypto and NFT scam will one day implode! The f’d up thing is, it will take us, the daily economy with it! Hopefully no scammers will be bailed out!,” another user replied.

What is Floki Inu?

Floki Inu, named after Elon Musk’s Shiba Inu puppy, is a cryptocurrency that was created on 25 June, 2021.

“A new crypto coin birthed by fans & members of the Shiba Inu community, Floki Inu (FLOKI) is inspired by #DogeFather Elon Musk’s very own Shiba Inu,” it said in a statement on the Floki Inu website.

“Floki Inu is not a meme coin. IT’S A MOVEMENT. A new cryptocurrency birthed by fans & members of the Shiba Inu community,” the Floki Inu whitepaper said.

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