Shiba Inu rival Floki has issued an important scam warning to the cryptocurrency community. In a recent tweet, Floki raised an alarm regarding fraudulent claims that suggest the existence of a Floki token on the Base or Solana blockchains.

Floki has clarified that its token, FLOKI, is only tradeable on the Binance Smart Chain (BNB) and Ethereum (ETH) blockchains. To prevent any confusion and ensure the safety of crypto participants, Floki has provided the correct contract addresses for trading on these two chains.

The team has emphasized that any other claims of FLOKI tokens existing on different blockchains are entirely false and attempts to deceive the community. Floki's proactive approach aims to safeguard investors from falling prey to such scams.

Floki's message to crypto participants is clear: Stay safe and always verify information from official sources. The team urges the community to exercise due diligence and cross-check any information with official Floki channels before making any transactions.

This alert serves as a reminder of the importance of vigilance in the cryptocurrency space, where scams can often appear legitimate. The crypto community is urged to heed Floki's warning and only engage with verified contract addresses when trading FLOKI tokens.

Floki dips 9% amid market sell-off

The cryptocurrency market has recently experienced a significant sell-off, leading to a downturn in the prices of many digital assets. Floki has not been immune to this trend, recording declines amid the market turbulence.

The current market sell-off has been attributed to various factors such as macroeconomic uncertainty, including profit-taking by retail investors and a lack of positive catalysts. With major cryptocurrencies like Bitcoin and Ethereum also facing declines, the impact on meme coins like Floki has been pronounced.

At the time of writing, FLOKI was down 9% in the last 24 hours to $0.00001653. Floki, which is part of the broader ecosystem of dog-themed cryptocurrencies, has seen its trading volume increase by 6.61% to $285 million over the last 24 hours.