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😱🔥FLOKI To Burn 15.2B Coins, Solidifying Bullish Pennant Setup
The #FLOKI coin community is choosing to burn $3.2 million worth of FLOKI tokens.
FLOKI was ranked as the No. 1 altcoin for a short time by combining social and commercial activities.
Analysts are flagging FLOKI's bullish pennant, reinforcing their hopes of an all-time high.
A new proposal by the decentralized autonomous organization (DAO) of FLOKI proposes burning 15,246,000,000 excess FLOKI tokens. The proposal for Decoction of Floki quickly gained attention among the community members, who almost unanimously voted for the implementation of this proposal.
According to the results, 99.84% of voters agreed to burn 15.2B Floki coins, as the proposal reviews the previous three incineration operations initiated by the Floki DAO. July January 2022 the Floki community held a vote on whether to burn the excessive amount of tokens taken from a blacklisted wallet, while in January 2023 another 4.97 tons of Floki coins were burned by the decision of the community.
In addition, Floki owners voted to burn another 190 billion FLOKI coins taken from the multi-chain bridge in February 2024. It is noteworthy that in the latest FLOKI DAO burning campaign, there are fewer Floki coins than in the first three burning operations initiated by the DAO.
However, the deed is in line with FLOKI's goal of remaining a deflationary cryptocurrency controlled entirely by the decisions of the community. According to the description of the proposal, the incineration operations will be carried out one week after approval.
