From the start of the year, $FLOKI has increased by 520% and is now listed on Kucoin
After being listed on a significant exchange, FLOKI, a possible rival to Shiba Inu and Dogecoin, has continued to grow.
On February 15, 2023, FLOKI, a meme coin project that is thought to compete with Shiba Inu and Dogecoin, stated that this token would be listed by Kucoin with trading pairs USDT and USDC.
In a tweet two days ago, Elon Musk attracted attention once more when he posted a picture of his dog dressed in a black shirt that read “CEO” and made the jest that the dog makes a fantastic CEO. Prices for Twitter, “better than some,” Shiba Inu, and Floki all increased dramatically.
The price of this meme coin previously rose by more than 100% at the end of January following the approval of a proposal to burn more than $100 million worth of this tokens on a cross-chain bridge to lower transaction costs.
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A governance proposal to burn 4.97 trillion tokens on a cross-chain bridge in order to lower transaction costs was previously approved by the Floki Inu community. The proposal to burn tokens on the cross-chain bridge received a vote of 99.97% in favor and 0.03% against, according to the developers. By the time the DAO vote was over, 4.97 trillion tokens had been burned, which had been worth $55 million when the proposition had first been proposed.
Because the cross-chain bridge presently accounts for 55.7% of the entire circulating supply of this token, hackers will have a major negative influence on the project, according to the project’s developers. If compromised, this might drain the project’s cash reserves and ultimately lead to its demise. The action is a part of a bigger strategy, say the developers of Floki Inu, to make this initiative a respectable DeFi project.
The group has recently made projects available, including the metaverse game Valhalla and Floki Locker. At $0.000053, the token price is up almost 155% in the previous week and 520% since the year 2023 began.