What's up grandma's guys here so i'll admit, i was not planning to make this video, but ever since posting about shiba inu skyrocketing over a thousand percent and overtaking the almighty dogecoin, hundreds of you have reached out non-stop that i cover what is supposedly the next. In line, and apparently that is floki enu yep, i can't believe i'm actually covering this, because we have a century worth of sound, investing philosophies that have led us to this moment in time where the latest investment craze is a meme coin, based on another meme coin, That was created to overtake the original memecoin and as funny as that sounds, it's already got a market gap of two and a half billion dollars. So, given how much talk there is and how much complete garbage misinformation is being spread around twitter? Let's talk about truthfully. What floki inu is the fundamentals behind the quinn itself, whether or not it could follow a similar path to other shiba inu-based cryptocurrencies before it, and if this is something worth investing money into.

But before we start just so, there's no confusion that this information is completely unbiased and neutral. I do not own any floaty enu and there is zero reason for me to give you anything other than the truth in this video. I say this because one i'm worried that the size of my channel has the potential to affect the market cap of a smaller coin, which is never my intention and two i've seen so much false information being spread from people who are only interested in promoting what They own so rest assured. I have no ulterior motives or biases here and if you appreciate that type of openness and transparency just do me a quick favor and destroy the like button for the youtube algorithm and feel free to subscribe, because i post three videos.

Every single week, so thank you guys so much and also big. Thank you to policy genius for sponsoring this video, but more on that later, all right so to understand exactly where we start get ready, because we're about to go three levels deep in sheep of inception to understand exactly what it is and what it does, which all Begins right here, the first to show up was dogecoin, which was created back in 2013 as a joke between its creators to make a fun light-hearted cryptocurrency that wasn't intimidating to use, and it was based around the shiba inu doge meme featuring this cute dog, with comic Sans thoughts popping up, it was never really intended to be anything and it never really had a clear purpose, but over time it began to grow a cult-like following and in july of 2020. It had its first breakthrough moment, a tick tock user created, what's called the dogecoin challenge, which made the argument that if all 800 million users each invested 25 dollars, they could drive the price to a dollar and make a 10 000 profit. Now, even though dogecoin wasn't able to hit a dollar, it did bark up enough mainstream attention to provide the framework for the now 39 billion dogecoin killer, shiba inu.

In august of 2020, they released their official wolf paper detailing their intention to outpace the value of dogecoin exponentially without ever crossing the one penny mark, and even though it may have seemed like a lighthearted joke at the time. One year later, it actually happened and in the last 30 days it's up 900. But our story does not end there. Because, despite the success about dogecoin and shiba inu, there was a quietly less talked about third cryptocurrency growling behind the scenes and that's what brings us to floki enu.

I know this sounds crazy, but on june 25th, when elon musk tweeted, my shiba inu will be named. Floki, a team of developers from the shiba inu community recognized the potential for this to become a trend, and so they created floki enu. It was perfectly positions that, when elon musk tweeted that he had adopted a puppy floki on september 12th, the coin was all ready to go, and now it's up over 370 in the last seven days after trading relatively sideways for the last few weeks. So today the narrative seems to be that floki enu is the coin to buy for everyone who missed out on the previous price run-ups of dogecoin and shiba, inu of which would have made you millions had you bought in early enough.

So could history actually be repeating itself here well to answer that we should first take a look at their white papers and, as they say, floki is not a meme coin. It's a movement, a new cryptocurrency birthed by fans and members of the shiba inu community, but in terms of what it actually does, they explain that floki is working on three flagship utility projects: an nft gaming metaverse known as valhalla, an nft and merchandise marketplace known as Floki places and a content, slash education platform known as floki in new adversity. However, even though they don't just call themselves a movement, they do admit that the ability of eccentric, billionaire elon musk to move the markets is unparalleled and this time around, it's going to be with floki enu. So one could assume that they created a coin based on elon musk's dog's name, so that anytime he tweets about the dog.

It's free publicity for the currency. Now, admittedly, that's a smart move, although as great as elon musk is about pumping and not dumping. We should really talk about the mechanics behind exactly how this coin works, because that might help provide some insight into exactly why it's worth several billion dollars right now and climbing. First, they explain that they have a team of well-respected industry figures behind the project, like their lead developer, who goes by the name of b petabyte capital, not to be confused with petabyte technology, not financial advice, saber and mr brown whale who's.

The lead of their planned metaverse and nft launch the second just like with shiba inu they're, based on the ethereum network, giving them massive scalability across the entire existing ecosystem and giving them the potential to implement smart contracts. Third, there's a maximum supply of 10 trillion floki e-new coins and they implement a 3 treasury tax on every buy and sell of which gets sent to a treasury wallet and used for further development and marketing. Now to make sure that actually happens. Four of the six team members must sign off on every withdrawal, making it highly unlikely that a single person would ever run off with all the funds.

Looking at you squid token and fourth, they say that they partnered with elon musk's brother kimball musk through the million gardens movement which tackles food and security around the world. In this context, floki enu donated 1.4 million dollars of their nft proceeds to the organization and in the process they've become the single largest contributor, but even with all of this information, i know what you want me to answer, but graham just tell me if this is Something i should buy or not since time is money, and i just want to know if this is something i could make 10 or 20 or 50 or 100 x on and in my way of doing that, we're going to talk about both the pros and the Cons because something like this does not have a one size fits all approach. First, let's talk about the positives and number one. They have great marketing.

They were smart to name the cryptocurrency after elon musk's puppy and whether or not he endorses floki inu. Any mention of the dog's name on twitter is going to send people speculating into oblivion that maybe he secretly meant the cryptocurrency and it's going to be going to the moon. It also capitalizes on the shiba inu craze and even though we already have dogecoin shiba, inu shiba girlfriend king sheba, sayatama inu save moon inu and over a hundred other e-news there's only one floki enu, so marketing-wise they're right they're, always going to get some level of Indirect publicity every single time, elon musk tweets about his dog floki. Second, they have very interesting future projects if they're able to capitalize on the momentum.

According to the twitter user, redstart, the meme facade is simply an easy way to get people comfortable with the complexity of cryptocurrency and long term. They want to build their own metaverse, even though this is not visible anywhere on their four-phase plan. Redstart explains that there are developments in the works and that their metaverse would include gameplay elements of pokemon skyrim, animal crossing and farmville, with upgradeable nfts along the way. In addition to that, their flokie enuversity plans to create an educational platform that teaches people the nuances of charting, explains the basics of nfts and risk management.

And eventually, as the developer says, the plan with university is to make the biggest database of crypto content. That people will be able to access by paying with the floki token. Third redstart explains that several very large holders, known as wales, have slowly begun to buy in floki enu and according to redstart. Those are the same people who helped initiate the sheba enu pump.

The fourth there's very much the confirmation bias that if dogecoin and shiva inu can do it, then floki inu can too and whether or not it's right if enough people believe it to be, it will just like with every other enu based coin before it. What you're really trading is attention and the more positive attention it gets. The more people buy in which causes even more positive attention, which causes even more people to buy. In and fifth there's now a growing petition to get floki enu listed on coinbase, which would make it much easier for people to buy and sell i'll link to it down below in the description for anyone else who wants to sign, but exposing floki enu to coinbase's 68 million users from around the world would be enormous.

If that actually happens in the near future. I would not be surprised if it continues to increase. However, there are downsides that we have to talk about because keep in mind. All of this only happens if everything goes perfectly and to give a more balanced view.

Here's what we have to consider, but before we go into that, listen we're nearly at the end of the year. The holidays are soon approaching, and that means the perfect gift could be making sure you have the proper life insurance coverage to help the people you care about the most. All thanks to the sponsor of today's video policy genius policy genius makes it easy to compare quotes from over a dozen top insurers all in one place, and you could save 50 or more on life insurance by comparing quotes with policy genius. Now i get it, insurance is never something that you want to think about needing and chances are, if you don't have it yet you've been putting it off for quite some time, but as we approach the end of the year now is time to make sure that Your loved ones are financially taken care of.

In the event, something happens and policy genius makes that incredibly easy to do first head to policygenius.comgram and then in minutes you could work out how much life insurance coverage you need and compare personalized quotes to find your best price and best of all policy genius. Never sells your information to other companies, they don't add on any extra fees and their licensed professionals work for you and not the insurance companies. You can trust them to help you navigate every step of the buying and shopping process along the way so head to policygenius.comgram. To get started right now and with that said, let's get back to the video first, they have a very big marketing budget and because of that, it becomes very difficult to tell who is genuinely interested in the project or who's paid to talk about it as an Influencer, as they say, the treasury funds are mainly used for two things.

First, it's used for purely marketing purposes such as onboarding influencers, paying for strategic ads paying for promotional charity donations and even paying for real world events and promotions. Now, that's not to say that you can't have a sponsor and sincerely like and use the product. At the exact same time, the line gets blurred when the investment is the sponsor itself and its value is derived from how much attention it receives. For example, i was researching their metaverse and development and, even though this video was incredibly thorough, there was one little part that threw me off, so they wanted to know.

If i wanted to take a sponsored look at it and just notice how quickly he threw that in there and there's no other mention of a sponsor being in the channel. In this case, the sponsor is the game, but the game itself is funded by the transaction volume of the coin, which benefits from going up in price. In addition to that, their marketing budget includes promotional charity donations, which makes me question how much of their charitable involvement is authentic, versus how much of their charity is strategic promotion through the indirect endorsement of kimball musk. Of course, on the one hand, donating any amount, for any reason is good, and i don't want to take away from that, but i would also be lying if the marketing aspect didn't make me think twice about their underlying intentions.

To me, it's not inherently a red flag and as a way to grow their affiliation, it's very smart, but it is something to keep in mind, given that they probably have one of the largest marketing budgets for any of the enu coins. The second floki enu is benefiting from the exposure of shiba inu, which is benefiting from the exposure of dogecoin, and if one of those were to fall, i have a feeling the others would drop. Alongside with it again. This is a bit of a double-edged sword because when things are going well, if you're going really really really well, but if and when things settle down, this has the potential to turn rather quickly, and that is a risk.

I worry that people don't fully take into consideration the third i'll, be honest, i'm not sure i see a need for a gaming metaverse tied with the cryptocurrency. I just think that if this were to be a popular game, there could be so many different ways to monetize from memberships, recurring, in-game purchases, renting skins and a variety of other options of which would be in the best interest to accept everything, not just floki enumu. Sure it might always be nice to have a native transactional token, but to me it's just not needed, and that makes it difficult to justify same thing also applies with their educational platform, and you guys know me. I am all about financial education.

If there's any space that i know well, i think it's this, but i just don't see how there would be anything here that couldn't already be viewed for free on youtube and i'm just not sure how people would feel about paying for this information with floki enu And fourth, just like any cryptocurrency that has the potential to rally in price just be prepared that it could go down too throughout the last year. It almost seems, like people have forgotten what it's like to lose money, and i bet a lot of people today were not around in 2017, where we saw an almost identical run-up in price before things completely collapsed in early 2018.. Now, i'm not implying that it's going to happen here, the same way it did before, but prices don't just go up indefinitely and i'm worried people are gon na get burned. If they're, not careful when things seem so easy and people are rushing from one thing to another chasing returns, it makes me worried that risk isn't being taken into consideration and instead it's become a game of musical chairs to see who could make the most amount of Profit as fast as possible now i have no doubt that you can make a lot of money in the process if you time it right, but speculating on short-term movements should not be taken lightly, but before we end, i thought it would be interesting to get a Different perspective on things, and so i have brought in the og himself the original dogecoin millionaire to share his thoughts on floki enu, because i heard he just bought in himself.

I want to know how much did you invest in floki enu, i mean i do have 117 million floki enu coins, so i honestly feel like floki is gon na, be the third dog main in the trilogy. I learned from dogecoin i learned from sheba and it's developed, something that i feel like is gon na, be insane in the coming months. Now, when you say it learned, what did it learn? Did it? Are you talking about just the the price it learned that has to go up in price? The thing is ethereum's, gas prices are crazy, so floki comes in and floki can work on the ethereum blockchain, but it can also be on the binance smart chain network. So now i want to know: what's your price target, my price target i feel like it can reach the 30 billion mark, which is where you know sheba and dogecoin is at within the next six months.

So it's basically a 10x we'll call it that, and that's being that, that's me being a little. You know, conservative. How is this different from gambling, though i know we had talked about a little bit of that with dogecoin. Do you feel like you're you're, just trying to repeat what happened with dogecoin, i feel like everything's gambling, graham, i feel like i feel, like you putting money in a tesla, you're gambling.

You know what i mean like i'm a true believer that the more you know the less risky it becomes, what if it doesn't perform as you expected. I just don't see that happening, and i know that sounds insane and super crazy and people are going to laugh at me right now. I get that people laughed at me when i bought dogecoin and told us told everyone the same thing. You know what i mean, but i really truly believe this is going to happen and when it does we're going to have to do another video graham and talk about it i'll make you a promise.

We could do that, but right now, at 30, with 30 000. It would need to 30x, oh, oh, oh i'm, not i'm not done i'm not done buying in i'm. My my goal is a hundred thousand dollars into floki coin. I'm rooting for you so to end things off.

Let me just say this. I've been surprised that i've been wrong so many times with the spectacular performance of cryptocurrency that it's given me a newfound appreciation and respect for the value of community, of which floki, sheba and dogecoin each have. So, even though i approach every topic with a certain level of skepticism, there are market conditions that are impossible to quantify. That help give us the values that we're seeing today and even though some of my thoughts might be unpopular, i will always do my best to give you my honest opinion.

It's a good reminder to sometimes take a step back, consider the risks and always no matter what smash the like button for the youtube algorithm. So with that said, you guys thank you so much for watching also make sure to destroy the subscribe button, and the notification bell also feel free. To add me on instagram and on my second channel, the graham stefan show i post there every single day. I'm not posting here so if you want to see a brand new video for me every single day, make sure to add yourself to that.

And lastly, if you want a completely free stock, now worth all the way up to a thousand dollars, use the link down below in the description and sign up for public using the code, graham and plus, you can now buy shiba inu on there for anybody interested. So the link is down below enjoy, let me know which stock you get. Thank you so much for watching and until next time.