Token

Burn

FLOKI

Floki DAO

Gains

<a href="https://bitcoinworld.co.in/floki-gains-300-over-the-past-week-after-community-approves-token-burn-proposal/" title="FLOKI Gains 300% Over the Past Week After Community Approves Token Burn Proposal" rel="nofollow"></a>
Floki (FLOKI), a dog-themed cryptocurrency, <a href="https://twitter.com/RealFlokiInu/status/1764371643227427070">experienced</a> a staggering 300% <a href="https://coinstats.app/coins/floki-inu/">price</a> increase in the past 7 days, after the community overwhelmingly voted to burn 2% of the token’s total supply. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 FUN FACT: The 190,918,585,431.84 <a href="https://twitter.com/search?q=%24FLOKI&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$FLOKI</a> tokens the Floki DAO voted in favor of burning in our latest DAO proposal is now worth $27,301,357. These tokens will be burnt within the week. Stay tuned for more information! <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f440.png" alt="👀" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/Nd7ahqkKcQ">https://t.co/Nd7ahqkKcQ</a> <a href="https://t.co/dgexLqNULC">pic.twitter.com/dgexLqNULC</a> 
 — FLOKI (@RealFlokiInu) <a href="https://twitter.com/RealFlokiInu/status/1764371643227427070?ref_src=twsrc%5Etfw">March 3, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
This decision, with nearly 90% of votes in favor, aims to permanently remove tokens from circulation, potentially increasing the value of remaining tokens.&nbsp; 
The burn event is expected to occur in seven days, following the large community participation. 
This isn’t the first time Floki has implemented a burning strategy. In January 2023, a similar event took place.&nbsp; 
See Also: <a class="row-title" href="https://bitcoinworld.co.in/solana-surged-to-22-month-high-as-bitcoin-rallies/" aria-label="“Solana Surged To 22-Month High As Bitcoin Rallies” (Edit)">Solana Surged To 22-Month High As Bitcoin Rallies</a> 
Last week, developers proposed removing 190 billion tokens, valued at $11 million at the time, to enhance network security and boost overall sentiment. 
Interestingly, the tokens targeted for burning are stored on the Multichain bridge, a platform that faced a significant exploit in July 2023, resulting in over $130 million stolen. 
The FLOKI surge likely benefited from the recent euphoria surrounding meme coins.&nbsp; 
<figure id="attachment_67487" aria-describedby="caption-attachment-67487" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class=" wp-image-67487" src="https://bitcoinworld.co.in/wp-content/uploads/Floki-Price-Chart-4-483x300.png" alt="" width="570" height="354" srcset="https://bitcoinworld.co.in/wp-content/uploads/Floki-Price-Chart-4-483x300.png 483w, https://bitcoinworld.co.in/wp-content/uploads/Floki-Price-Chart-4.png 760w" sizes="(max-width: 570px) 100vw, 570px">
 <figcaption id="caption-attachment-67487" class="wp-caption-text">
 Floki Price Chart | Source: Coinstats
 </figcaption>
</figure> 
&nbsp; 
Dogecoin (DOGE), Shiba Inu (SHIB), Dogwifhat (WIF) and Bonk (BONK) have all witnessed staggering rallies in the past week. 
<blockquote>
 Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
</blockquote> 
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The post <a href="https://bitcoinworld.co.in/floki-gains-300-over-the-past-week-after-community-approves-token-burn-proposal/">FLOKI Gains 300% Over the Past Week After Community Approves Token Burn Proposal</a> appeared first on <a href="https://bitcoinworld.co.in">BitcoinWorld</a>.

FLOKI Gains 300% Over the Past Week After Community Approves Token Burn Proposal

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