LIVEFLOKI’s Price Soars Following Massive 190.91B Token Burn
FLOKI price soars post monumental 190.91B token burn, reducing supply and boosting market cap to $2.4B with over 17% surge.
FLOKI surges 17% post-190.91B token burn, market cap hits $2.4B.
Floki DAO's $47M token burn propels FLOKI's trading volume up 34.72%.
Valhalla game anticipation boosts FLOKI's appeal post-massive burn.
Floki (FLOKI) has seen a significant increase in its market value following a monumental token burn. The Floki DAO successfully executed the burning of 190.91 billion FLOKI tokens, valued at over $47 million, across both the Ethereum and Binance Smart Chain networks. This strategic move has not only reduced the circulating supply of the token but also spurred a notable price surge, capturing the attention of investors and traders.
In the last 24 hours, the FLOKI price has swayed between an intra-day high and low of $0.0002156 and $0.0002767, respectively. However, FLOKI was up 17% from the intra-day low at press time, trading at $0.0002518. Concurrently, its market capitalization and 24-hour trading volume surged by 17.89% and 34.72% to $2.4B and $2.26B.
Impact of the Token Burn on Market Dynamics
The choice to burn a massive amount of FLOKI tokens comes at a time when meme coins have regained the interest of the cryptocurrency market. This token burn has caused the total supply of FLOKI to decrease, and thus, investors have started buying up the token in a bullish run. Following the announcement, the price experienced a sharp rise, surging over 50% as reflected in the weekly gains of over 130% as per CoinMarketCap data.
