FLOKI Burns 15 Billion Tokens š„š„ ā Impact for Investors Explained
5% drop in FLOKIās price over the last 24 hours, market sentiment remained bullish as its Altrank surged to #1. Indicators are now suggesting a potential trend reversal
A few days ago, FLOKI surged above a bullish pattern, suggesting potential for continued price increases. Recent data shows the memecoin is progressing well toward its targets. Additionally, a significant proposal was approved recently, expected to contribute to further growth in its market performance.
FLOKI Breaks Bullish Pattern with Potential for Price Surge
Recently, World Of Chart, a popular crypto-analyst, highlighted FLOKIās breakout above a bullish symmetrical triangle pattern. This pattern emerged in March, and FLOKI successfully surpassed it just a few days ago, potentially setting the stage for a significant price increase of up to +100%. Since the breakout, FLOKI has appreciated by over 15%, indicating positive momentum for the memecoin.
Additionally, FLOKI announced the passing of a major proposal. According to its official communication on X handle, FLOKI DAO voted overwhelmingly in favor of burning 15,246,000,000 FLOKI tokens, with 99.84% of the votes supporting the burn. This deflationary measure could positively impact FLOKIās future price performance by reducing circulating supply, a factor known to potentially drive asset prices higher.
Mixed Signals for FLOKI Amidst Optimistic Developments
Despite optimistic developments, FLOKI faced a different reality on the ground, with its price declining nearly 5% in just 24 hours, according to CoinMarketCap. Currently trading at $0.0002121 with a market capitalization exceeding $2 billion, the memecoinās trajectory may soon shift. (By cryptoheadles)
