Meme coins, including Santa Floki, were inspired by internet jokes. In fact, this is the personification of famous memes in the form of tokens.

The main feature of mem-coins is a reflection of current events and incidents. They are rapidly gaining popularity and their price can skyrocket.

Now there are more than 80 meme-coins on the markets. The first such token was Dogecoin, created in 2013. Since then, new ones focused on current events have been actively created.

Today I will write about Santa Floki. Memcoin is gaining great popularity on the eve of the New Year.

Santa Floki: characteristics

 

Santa Floki is a token powered by Binance Smart Chain. The market capitalization is $20 billion. The primary nomination took place in November 2021.

The project seemed interesting to me not only because of the increased popularity. The developers have defined the end goal of their product.

The project was founded by startup Parabolic. According to information from their official website, part of the budget is spent on charity and gifts in honor of the New Year. In the first two days of work, the developers delivered 100 pizzas to the homeless in Los Angeles.

There are also payouts for “holding” the coin. Holders receive 4% of the project income in BSC stablecoins – BUSD.

In the near future, the creators promised to share new plans. So far, Santa Floki is a meme-coin with dividend income and investments in charity.

Santa Floki: advertising from Elon Musk

On December 27, 2021, the price of Santa Floki increased by more than 170 times. This is related to a post on Twitter by Tesla CEO Elon Musk, where he posted a photo of his dog and captioned the post with the name of the token.

This suggests that influential individuals can directly influence the cryptocurrency market. Previously, there have already been cases of changes in the exchange rate of coins after publications on social networks.

  1. In May 2021, Elon Musk announced that bitcoin was no longer accepted as payment for electric cars. He explained this by saying that mining harms the environment. After that, the price of the first coin collapsed by 10%. The fall continued for a week. The result is the loss of a third of the value of bitcoin.
  2. On January 29, 2021, Bitcoin increased in price by 19%. Experts linked this to Elon Musk’s post. The publication did not talk about bitcoin directly. Only the hashtag with the name of the coin affected the price.
  3. Elon Musk also announced plans to use the Dogecoin meme-coin as a means of payment. The price of the token after the tweet rose by 30%.

It can be concluded. Memecoins (like other cryptocurrencies) depend on popularity. The more people know about the token, the more people invest in it.

Santa Floki token benefits

Santa Floki has a contract with DeFi network Binance Smart Chain under the BEP20 standard. This explains a number of advantages of the mem-coin.

  1. Low commissions . The average transaction fee is $0.05. This is much lower than in the Ethereum and Bitcoin networks.
  2. Fast transaction processing . The processing speed of one block is three seconds. For comparison, bitcoin transactions take from five minutes to one hour.
  3. High liquidity . Santa Floki is compatible with all BEP20 and BEP2 assets. The token can be exchanged at any time for other digital coins. You can also link a cryptocurrency from another Blockchain.
  4. Fiatity . It is possible to make transactions within the Binance Smart Chain network. For example, you can exchange Santa Floki for BUSD and pegg your portfolio to the dollar.

All of the described benefits are related to the Binance Smart Chain functionality. There are also benefits for developers. Based on Santa Floki, you can create your own Blockchain using a simplified algorithm.

Such tokens are open source. You can connect dApps to Santa Floki and work directly through your own application interface.

 

Santa Floki Predictions

Santa Floki Predictions.  Photo: Andrea Piacquadio / pexels.comSanta Floki Predictions. Photo: Andrea Piacquadio / pexels.com

 

How attractive are memecoins for investment? First, I want to warn you that the price cannot be predicted with 100% accuracy. Secondly, the marketing of the token is associated with specific events: New Year and Christmas.

Against the background of the growing popularity of mem-coins, such tokens can be used as investments. They are also attractive due to their low cost: the price of Santa Floki is thousandths of a cent.

I note that the presence of dividends is a good factor. Perhaps the developers will increase the percentage of profitability.

2022–2023

There is a possibility that Santa Floki will become a symbol of the New Year holidays for crypto enthusiasts. This will affect the value of the token and its capitalization.

The developers are planning further development of the project. If we take into account the enthusiasm, then by the end of 2022 we will see a 30% increase in value with corrections in February-March. I note that the rate of the token was growing even before the post of Elon Musk.

By 2023, the growth rate will depend on the demand for mem-coins as a sector of the crypto industry. If we take into account the systematic growth of popularity, then the cost will rise by 60% of the current quotes.

2025

The cost of Santa Floki indicates a low threshold for investing in a token – there are no restrictions for investors. Therefore, the cost of quotes by 2025 will be made up of several factors.

  1. Dollar value. BEP20 network tokens depend on the value of the dollar. This is due to the fact that some of the digital assets are backed by currency.
  2. Development of the dApp sector. Let me remind you that decentralized applications can be combined with the BSC network. The development of the sector will also mean growth for the token.
  3. Marketing. The factor of dependence of the cost on the quality of the advertising campaign. Now developers are following a competent strategy. If the trend continues, the growth of Santa Floki is possible.

By the end of 2025, growth is expected to be 400%. I also want to note that meme-coins have become a good investment tool, although they were originally created as a joke