Hello everybody!
To date, the situation with the Floki token (FLOKI) in the market shows certain positive trends, albeit with some caveats. The price of the token is approximately $0.000173 and has increased by 5.79% in the last 24 hours. The total market capitalization of FLOKI is about $1.66 billion, and the trading volume per day is $263.25 million.
One of the important events that influenced the growth of the price of FLOKI was the adoption of the proposal to burn 2% of tokens from the total volume. This decision was supported by almost 90% of voters, which led to a significant increase in the value of the token by more than 100% in recent days. Burning tokens reduces their number in circulation, which can contribute to further price increases.
Technical analysis shows that on the daily timeframe, FLOKI is in an uptrend, with the 50-day and 200-day moving averages indicating a potential continuation of the trend.
However, despite the positive news, investors should be cautious given the high volatility of the cryptocurrency market and the potential risks associated with investing in meme tokens like FLOKI.
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