Floki Inu apparently crossed the line for the ASA, but its walking on thin ice now!

Among top meme coins like Shiba Inu and Dogecoin, Floki Inu emerged as a rising star in the volatile and tough crypto market. The crypto proved itself to be a lucrative and popular investment in 2021, closely following Shiba Inu's success, Floki Inu became the biggest competitor that Dogecoin and Shiba Inu had to watch. The rise of meme-inspired cryptocurrency was mostly triggered when investors found solutions to real-time problems combined with a little humour. Critics have always been very pessimistic regarding investing in meme coins for the long term. They believe that these meme coins have emerged out of a joke and hence should be treated that way. But these meme coins have successfully proved them wrong as they skyrocketed several times and have yielded massive amounts of profits for them. However, even after such advancements and successes, Floki Inu remains a controversial place. The crypto's ad campaign disaster has abundantly hampered its reputation and market dominance. But it seems like Floki Inu is busy digging its own grave as the firm resumes its advertising campaign in London after the tide of controversies.

The Advertising Standards Authority (ASA) banned a cryptocurrency ad that came from Floki Inu because it was 'irresponsible'. The ad appeared in the London Underground in November 2021, which features the picture of a cartoon dog wearing a Viking helmet and carried the slogan "Missed Doge? Get Floki." Apparently, the ad was created by Floki Inu's in-house advertising team. Even though the ad received no complaints against it, the ASA professionals said that the ad did cross the 'red-line'. Regulators were conducting thorough monitoring of the ads based on cryptocurrencies and found that the ad was aggressive in pursuing people to invest in such volatile assets. Some critics also demanded banning all cryptocurrency ads on London's public transport as the result of the campaign. The ASA claimed that Floki Inu used intense marketing efforts.

The team behind the cryptocurrency claimed that they did everything possible to not cross any limits but the regulators obviously did not buy it. The British watchdog determined that Floki Inu violated the local advertisement frameworks and attempted to ensure a feeling of FOMO among the London citizens, instigating them to invest in a volatile and decentralized currency like the Floki Inu.

Floki Inu Digging its Own Grave

Even after this controversy, Floki Inu has resumed its 'aggressive' advertising campaign in London. On April 23, 2022, the firm announced a new blog campaign stating that the cryptocurrency will be advertised on 100 buses and 203 posters will be hitting the city's subway stations from April 25, 2022. The UK politicians were already quite unhappy with the crypto's attempts to promote a decentralized monetary fund. The new campaign aims to become an advocate for all meme coins and to become a success story for the entire crypto market. Currently, Floki Inu investments are not making any headlines because investors are quite unsure of its bold marketing strategies.

Should you invest in Floki Inu right now?

Floki Inu is planning to get on the metaverse. The development will definitely spark new interest in the memecoin. Several other cryptocurrencies like Decentraland, Shiba Inu, and others have already made their strategies quite clear to the investors, who are quite excited as to what the crypto will offer in the emerging hot domain. Even though Floki Inu developers are quite late, yet it does not mean it will be an uphill battle to beat other cryptocurrencies in this competition. In a nutshell, Floki Inu will eventually come out of this controversy but the crypto is actually very volatile. Calling out all Floki fanatics, be careful!