$FLOKI $PEPE

Floki DAO burns 15 billion FLOKI, will price rise back to ATH?

Floki DAo, the decentralized organization (DAO) of the meme coin FLOKI has announced the burn of 15,246,000,000 tokens. This move was approved by the meme coin project after DA0 approval.

Burning 15,246,000,000 FLOKI by depositing them into inactive wallets is a rather unique measure, with 99.84% of the 460 billion FLOKI tokens supporting the move. The number of FLOKI voting NO on the proposal as of May 15 accounted for only 0.16% worth 723 million FLOKI.

This latest token burn proposal started on May 13 when the protocol announced that votes were taking place. FLOKI DAO has previously requested the burning of blacklisted accounts in its ecosystem. This requires these wallets to deposit their current amount of FLOKI into the Floki multisig wallet, saying they will be burned forever.

Token burning can help increase the value of FLOKI in the long term. As some competitors like PEPE have recently retested their ATH, FLOKI could use this token burn move to reach a similar record. FLOKI's ATH reached in early November 2021 was 0.0003437 USD.2 USD. This increase comes at a time when the market is experiencing strong consolidation with several meme coin tokens losing accumulated gains.

Token burning could help increase the value of FLOKI in the long term. As some competitors like PEPE have recently retested their ATH, FLOKI could use this token burn move to reach a similar record. FLOKI's ATH reached in early November 2021 was 0.0003437 USD.

#FLOKI🔥 #PEPE❤