The Telegram-based bot will be available to a small number of users during the beta testing phase. The developer announced that public availability is expected in mid-June.
Over time, the service will expand to the Ethereum and Base blockchains. Developers anticipate that the service will boost demand for FLOKI tokens, as users will need to hold the token to use the bot.
Telegram-based trading bots started gaining popularity in early 2023 with the launch of Unibot. They allow users to exchange tokens as easily as they communicate with each other in the app.
The appeal of such products is driven by their ease of use compared to decentralized exchanges.
Meme coin projects, such as Solana’s Bonk (BONK), have previously launched their own trading bots, which have proven popular within their communities. For instance, at one point, BonkBot accounted for up to 70% of all on-chain transactions on Solana. The value of FLOKI has risen by 17% in the last 24 hours.