FLOKI successfully executes 190 billion token burn

FLOKI successfully executes 190 billion token burn

By Benson Toti - min read
Updated 22 April 2024
  • Floki has announced the 190 billion FLOKI token burn has been executed.
  • The tokens were worth over $47 million following FLOKI’s 600% price surge in the past two weeks.

FLOKI has announced that the scheduled 190 billion FLOKI token burn has successfully executed.

As revealed recently, the Floki DAO approval for the burn saw the project outline that the planned incineration was to take place this week.

On March 9, 2024, the team announced that 190.91 billion FLOKI, accounting for 2% of FLOKI’s circulating supply, had permanently been removed.

“In line with the decision of the #Floki DAO, 190,918,585,431.84 $FLOKI tokens have been successfully burnt across the ETH and BNB chains,” the Floki Inu team posted on X.

FLOKI price up 600% in 2 weeks

According to the details, the total value of the burnt tokens was over $47 million. Initially, the 190 billion FLOKI had a value of $11 million. However, FLOKI price has more than doubled in the past week, with a 7-day range of $0.0001072 – $0.0002711.

The meme coin’s price is up more than 600% in the past week and traded around $0.0002488 at the time of writing. Its value has surged 21% in the past 24 hours.

“While this is a significant number of tokens burned, we want to highlight that a lot more tokens will be burned in the long term through Floki utility,” team FLOKI noted.

Floki is not the only meme coin to fly this past week as the crypto market rallied amid Bitcoin’s ascend to its all-time high above $70,000.

Other tokens to obliterate bears in the meme space are Solana-based dogwifhat (helped by its Binance listing), Shiba Inu,Bonk and Pepe. Dogecoin also touched highs above $0.2 before paring gains.