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30 May 2024
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FLOKI DAO Approves 15.25B Token Burn Proposal With 99.84% Positive Voting

FLOKI DAO Approves 15.25B Token Burn Proposal With 99.84% Positive Voting

  • Importantly, the burn plan had the support of the majority with 99.84% of the vote.
  • The meme coin was listed on Revolut and Binance Thailand.

After the FLOKI DAO approved a major token burn proposal, the meme coin FLOKI saw a large spike of around 6% today. The FLOKI community is filled with confidence due to this event and other recent large listings and exchange integrations, which might mean that FLOKI’s rising trend will likely continue.

The FLOKI DAO had a historic vote to burn 15.24 billion FLOKI tokens, marking a turning point for the FLOKI community. Importantly, the burn plan had the support of the majority with 99.84% of the vote.

Strong Community Backing

Everyone in the community agrees that the amount of FLOKI in circulation has to be reduced, and this historic decision reflects that. The token burn is often seen as an effort to increase the market value of the cryptocurrency.

At the same time, a typical tactic used by cryptocurrency projects is the token burn procedure, which entails permanently withdrawing certain tokens from circulation. The price of the cryptocurrency might rise as a result of this decrease in supply, which makes it scarce. The FLOKI community is expecting good price movement in the days to come thanks to the unanimous support of the token burn proposal.

Not only has FLOKI’s token burn approval made headlines, but the cryptocurrency has also been listed on many major exchanges. Most significantly, FLOKI is now more accessible to traders thanks to Kraken, the major cryptocurrency exchange, which recently allowed perpetual futures trading.

At the same time, the meme coin’s listing on Revolut and the Thailand branch of Binance Exchange have both contributed to the positive market sentiment.

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