Floki Inu experienced a significant increase in interest today, with its price increasing by 10%. Floki, one of the pioneers of the meme coin industry, is showing signs of improvement in the industry.
Floki DAO, the decentralized autonomous organization behind Floki Inu, recently gained attention with a proposal that aims to permanently remove over 15 billion tokens in circulation. This announcement increased optimistic market sentiments for the future price movements of the meme coin.
According to a published statement, the DAO's proposal aims to burn 15.24 billion FLOKI tokens. Additionally, the DAO recommended burning all tokens, except for refunding 1% of tokens recovered from a blacklisted wallet.
Accordingly, 15.40 billion FLOKI tokens worth $2.8 million were transferred to multisig and a 1% token refund was recommended to the affected wallet. At the same time, the proposal aimed to burn 15.24 billion FLOKI and return 154 million tokens.
The proposal has received 99.84% votes in favor so far, while the total number of 'no' votes was recorded as 0.16%. This means that the proposal will probably be accepted.
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I EXPLAIN IN DETAIL.
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