Floki Inu Ads are Banned in the UK Due to 'Irresponsible' Advertising.
The Advertising Standards Authority (ASA) in the United Kingdom has prohibited advertisements for a meme-based cryptocurrency named after Elon Musk's shiba inu puppy, calling them "irresponsible."
- Last year, the Floki Inu coin was sold on London buses and metros with the phrase "Have you seen Doge lately? Obtain Floki."
- The advertising "irresponsibly exploited" customers' fear of missing out and trivialised bitcoin investing, according to the ad authority.
- The ASA said, Floki Inu implied that consumers who had not purchased dogecoin should invest in a newer alternative, meaning that it, too, would likely increase in value soon.
- The ad, according to Floki Inu, was designed for the "educated client," and the "ordinary customer" – who was unfamiliar with crypto investing – would be unlikely to respond.
- The ASA found, however, that cryptocurrency is a "high-profile and relevant concern," and that the commercials were targeted at a "broad audience."
- As a result, the advertisements must not display "in the form complained about."
- The price of Floki Inu, which was introduced in July 2021, is $0.0000444. On November 4, it reached an all-time high of $0.0003437.