I FOUND THE NEXT SHIBA INU

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 Flokey Inu.

Yep, I can't believe I'm actually covering this because we have a century's 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 meme coin. And as funny as that sounds, it's already got a market cap of two and a half billion dollars.

So given how much talk there is and how much complete garbage misinformation is being spread on Twitter, let’s talk about truthfully what Flokey Inu is, the fundamentals behind the coin 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 Flokey Inu 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.

Alright, so to understand exactly where we start, get ready, because we're about to go three levels deep in Shiba Inu 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.

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 TikTok 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 ten thousand dollar 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 dollar 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 light-hearted joke at the time, one year later it actually happened, and in the last 30 days, it's up 900 percent.

But our story does not end there because despite the success of Dogecoin and Shiba Inu, there was a quietly less talked about third cryptocurrency growling behind the scenes, and that's what brings us to Flokey Inu. 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 Flokey Inu.

It was perfectly positioned 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 percent in the last seven days after trading relatively sideways for the last few weeks. So today, the narrative seems to be that Flokey Inu 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 the white papers. As they say, Flokey 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 Flokey is working on three flagship utility projects: an NFT gaming metaverse known as Valhalla, an NFT and merchandise marketplace known as Flokey Places, and a content education platform known as Flokey Inu University.

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 Flokey Inu. 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 explained that they have a team of well-respected industry figures behind the project, like third lead developer who goes by the name of B Petabyte Capital, not to be confused with Petabyte Technology. Not financial advice. Saber and Mr. Brownwell, 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 Flokey Inu coins, and they implement a 3 percent 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, look at the use of Squid token.

And fourth, they say that they've partnered with Elon Musk's brother, Kimball Musk, through the Million Gardens Movement, which tackles food insecurity around the world. In this context, Flokey Inu donated 1.4 million dollars of their NFT proceeds to the organization, and in the process, they became the single largest contributor.

But even with all of this information, I know what you want me to answer: "But Gram, 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 even 100x on. 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. Number one: they have great marketing. They were smart to name the cryptocurrency after Elon Musk's puppy, and whether or not he endorses Flokey 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, Saitama Inu, SafeMoon Inu, and over a hundred other Inu coins, there's only one Flokey Inu.

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, Flokey. Second, they have very interesting future projects. If they're able to capitalize on the momentum, according to the Twitter user RedStar, 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, RedStar explains that there are developments in the works, and that their metaverse would include gameplay elements of Pokemon, Skyrim, Animal Crossing, and Farmville, with upgradable NFTs along the way.

In addition to that, their Flokey University 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 Flokey token. Third, RedStar explains that several very large holders known as whales have slowly begun to buy into Flokey Inu, and according to RedStar, those are the same people who helped initiate the Shiba Inu pump.

And fourth, there's very much the confirmation bias that if Dogecoin and Shiba Inu can do it, then Flokey Inu can too. And whether or not it's right, if enough people believe it to be, it will just like with every other Inu-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 Flokey Inu 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 Flokey Inu 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.

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So head to policygenius.com/Graham 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 is 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 is 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 Inu coins.

The second thing is Flokey Inu 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, they'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 their best interest to accept everything, not just Flokey Inu.

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. The 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 Flokey Inu. And fourth, just like any cryptocurrency that has the potential to rally in price, just be prepared that it could go down. 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 going to 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 worry 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 Flokey Inu because I heard he just bought in himself.

I want to know, how much did you invest in Flokey Inu?

“I mean, I do have 117 million Flokey Inu coins, so I honestly feel like Flokey is gonna be the third dog meme in the trilogy. I learned from Dogecoin, I learned from Shiba Inu, and it's developed something that I feel like is going to be insane in the coming months.”

Now, when you say “it learned,” what did it learn? Are you talking about just the price? It learned that it has to go up in price?

“The thing is, Ethereum's gas prices are crazy, so Flokey comes in, and Flokey 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 Shiba Inu and Dogecoin are at, within the next six months. So it's basically a 10x; we'll call it, and that's being conservative.”

How ardent from gambling, though? I know we had talked about a little bit of that with Dogecoin. Do you feel like you're just trying to repeat what happened with Dogecoin?

“I feel like everything's gambling, Graham. I feel like you're putting money on 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 gonna laugh at me right now. I get that. People laughed at me when I bought Dogecoin and 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 gonna 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 done! I'm not done buying in. My goal is a hundred thousand dollars into Flokey coin.”

I'm rooting for you.

So to end things off, let me just say this: I've been surprised, and I've been wrong so many times with these spectacular performances of cryptocurrency that it's given me a newfound appreciation and respect for the value of community, of which Flokey, Shiba Inu, 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 Stephan Show. I post there every single day. I'm not posting here, so if you want to see a brand new video from me every single day, make sure to add yourself to that. Thank you so much for watching, and until next time.