FLOKI Completes 190 Billion Token Burn

FLOKI Completes 190 Billion Token Burn

FLOKI Completes 190 Billion Token Burn

The value of the burned tokens exceeded $47 million, with FLOKI’s price increasing by over 600% in the past week.

FLOKI has declared the practical completion of the 190 billion token burn that was initially planned.

The Floki DAO sanction for the burn stipulated, as was recently disclosed, that the incineration was to occur this week, according to the project outline.

The team declared the irrevocable removal of 190.91 billion of the token, which represented 2% of the circulating supply of the token, on March 9, 2024.

“190,918,585,431.84 $FLOKI tokens have been burned effectively across the ETH and BNB chains following the decision of the #Floki DAO,” the team announced on X.

The particulars indicate that the burned tokens had a cumulative value above $47 million. At its inception, the 190 billion the token were worth $11 million.

FLOKI’s Surging Value

In contrast, the price of the token has increased by over twofold over the last week, fluctuating between $0.0001072 and $0.0002711.

The price of the meme coin increased by over 600% over the previous week and was approximately $0.0002488 at the time of writing. Its value has increased by 21% over the last twenty-four hours.

“Although this is a sizeable quantity of tokens consumed, we want to emphasize that a great deal more tokens will be burned via the Floki utility in the long run,” the team stated.

The token was not the only one to soar during the past week, as the cryptocurrency market rallied in tandem with Bitcoin’s ascent to a record high of over $70,000.

Additional meme tokens to eliminate bears include dogwifhat, based in Solana, aided by its Binance listing; Shiba Inu; Bonk; and Pepe. Dogecoin also peaked at over $0.2 before retracing its gains.

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