Floki (FLOKI) Nears 100,000 Holders on Ethereum, With 463,027 More on BNB Chain

Floki ($FLOKI), the dog-themed memecoin launched in 2021, is close to reaching 100,000 token holders on the Ethereum blockchain. Data from @etherscan shows the token's holder count on @ethereum currently stands at 98,981.

At the current pace of growth, the 100,000 mark could be reached within a few weeks. Separately, $FLOKI has some 463,027 holders on @BNBChain, bringing its combined total across the two networks to more than 560,000 addresses.

A Token Split Across Two Chains

Holder figures for $FLOKI are spread across two networks because the token exists on both. According to CoinMarketCap, $FLOKI is a multi-chain token, existing as an ERC-20 token on Ethereum and a BEP-20 token on $BNB Chain, with a 1:1 bridge between the two. The same source puts total supply at 10 trillion tokens.

Wallet counts do not equal unique investors, since one person can hold the token across several addresses or on both chains. Even so, a large and widely spread base of holders is often used as a rough gauge of how broadly a token is held. A wider base can reduce reliance on a small number of large wallets, although it says nothing about price performance.

Origins and Ecosystem

$FLOKI was created in June 2021. CoinMarketCap notes that it initially capitalised on meme culture linked to Elon Musk's Shiba Inu dog, also named Floki. The token has since moved beyond its meme origins, with an ecosystem that includes a play-to-earn metaverse game, DeFi tools and a tokenization platform, according to the same source.

Those products are intended to give the token real-world uses, and a portion of the fees they generate is used to buy and burn $FLOKI, which permanently removes tokens from circulation.

Holder counts on block explorers can move up or down as wallets are opened, emptied or consolidated, so the timing of the 100,000 milestone on Ethereum is not guaranteed.

Sources