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From the start of the year, $FLOKI has increased by 520% and is now listed on Kucoin

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From the start of the year, $FLOKI has increased by 520% and is now listed on Kucoin

floki

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.

Shiba Inu

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.

floki chart

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.

 

 

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