The Possible Reasons (FLOKI)
Skyrocketed 300% in a Week đ€©
Check out what could stand behind FLOKIâs 400% price increase in a month.
Floki Inu (FLOKI) has been among the best-performing cryptocurrencies as of late, experiencing a 300% price increase in a week and a 430% surge on a monthly scale. It is currently the sixth biggest meme coin, with a market capitalization of almost $1.5 billion.
One factor possibly contributing to the impressive spike could be the decision of the Floki DAO to burn more than 190 billion tokens. The stash, worth approximately $28 million at ongoing rates, will be destroyed in the following seven days
The decentralized autonomous organization also claimed the move could ensure âlong-term security and stabilityâ for the Floki Inu ecosystem by eliminating the risks of these assets being exploited and dumped
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