The #FLOKI community has decided to burn $3.2 million worth of FLOKI tokens. For a time, FLOKI held the title of the No. 1 altcoin by merging social and commercial engagement. Analysts are noting FLOKI's bullish pennant pattern, bolstering expectations for a new all-time high. A recent proposal from FLOKI's decentralized autonomous organization (DAO) aims to incinerate 15,246,000,000 surplus FLOKI tokens. The "Decoction of Floki" proposal quickly captured the community's interest, with nearly unanimous support for its execution.
Results showed 99.84% of voters in favor of burning 15.2B Floki coins, reviewing past incineration events initiated by the Floki DAO. In July 2022 and January 2023, significant amounts of tokens were burned, including 4.97 tons in January last year. Additionally, in February 2024, FLOKI holders agreed to destroy another 190 billion FLOKI coins from a multi-chain bridge. This latest campaign involves fewer coins than the initial three burn events by the DAO. Yet, this action aligns with FLOKI's objective to maintain its status as a deflationary cryptocurrency driven by community decisions, with incineration scheduled one week post-approval. #floki #binance #Binance $FLOKI
