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Bitcoin price is near the $66,000 threshold while altcoins are making various moves to stand out positively. Token burns are extremely important for meme coins. Projects with massive supplies boost unit prices by conducting large burns once they become popular enough. The Floki Coin team did exactly this.
Floki Coin Burn
According to a recent announcement on their official X account, Floki Coin’s DAO voted yes to burn over 15 billion tokens. The tokens will be burned within a week and permanently removed from the circulating supply. This was not a very surprising development, and since the vote progressed with over 90% in favor, the price already increased by more than 10% today.
After the burn, if BTC does not suffer a major loss, FLOKI Coin may attempt new rises. If it can close above $0.00023, the environment for a larger ATH peak beyond $0.000313 could be created.
The team wrote in their announcement:
“OFFICIAL: FLOKI DAO VOTED TO BURN 15,246,000,000 FLOKI TOKENS.
Floki DAO voted in favor of burning 15,246,000,000 $FLOKI tokens, and the proposal was accepted with an overwhelming majority of 99.84%.
In accordance with Floki DAO’s decision, the tokens will be burned within a week.”
