DeFi-focused meme coin Floki Inu (FLOKI) has experienced a remarkable 300% price increase within a week, with a 430% surge on a monthly scale, making it the sixth largest meme coin with a market capitalization of almost $1.5 billion. This impressive spike could be attributed to the Floki DAO's decision to burn over 190 billion tokens, worth around $28 million, in the following seven days. The token burn is expected to positively impact FLOKI's price by making it scarcer and more valuable. The overall resurgence of the crypto market, particularly the booming meme coin niche, may have also contributed to FLOKI's rally.