The objective behind these ads is clear: to capitalize on the regret that some people might feel for failing to jump on the DOGE train much earlier.
An advertising blitz for Floki Inu has begun in London — a move that’s apparently designed to “legitimize” the joke coin.
In London Underground stations, and on trains and buses, billboards and posters have appeared that say: “Missed DOGE? Get Floki.”
— Pablo (@seasidertrades) October 27, 2021
Last month, before the campaign launched, those behind the Floki Inu publicity blitz said:
“These advertising campaigns will run together and will be a full out assault of the London public transportation system.”
Indeed, the Financial Times noted that campaigns are also going to be rolled out to other major cities around the world — an agreement has already been inked in downtown Los Angeles.
The objective behind these ads is clear: to capitalize on the regret that some people might feel for failing to jump on the DOGE train much earlier.
Listen to the CoinMarketRecap podcast on Apple Podcasts, Spotify and Google Podcasts
Will The Ads Last?
Although Floki Inu’s ads are already running in the U.K., there’s a risk that this might not be the case for long.
The Advertising Standards Authority, which regulates ads in the country, has been known to ban campaigns that don’t comply with its guidelines — meaning they must be taken down and can’t appear again unless changes are made.
To be fair, Floki Inu seems to have taken heed of the fate that befell other crypto-related ads. Each billboard and poster features this in the small print:
“Your investment may go down as well as up in value. Cryptocurrency is not regulated in the UK.”
You may be wondering how Floki Inu can actually afford to take out these ads. Well, if you delve into the whitepaper, you’ll see that each trade of this cryptocurrency commands a hefty “marketing fee” of 4%.
As well as being used to fund campaigns, this budget also allows Floki Inu to onboard influencers — an increasingly crucial strategy given how research suggests everyday consumers are swayed by celebrity endorsements.
Over recent weeks, FLOKI’s performance has been rather tepid, with all eyes on SHIBA INU instead.
SHIB has continued to break new all-time highs — racing to a jaw-dropping $0.00008845 in the early hours of Thursday and becoming the 10th-biggest cryptocurrency in CoinMarketCap’s rankings.
But FLOKI appears to have gathered some newfound momentum.
Currently ranked No. 2,175 in CMC’s rankings, the joke coin has rallied from $0.00005782 to $0.0001434 over the past 24 hours — up by a whopping 148%. That’s a new all-time high.
