Floki Inu's Burn Rate Skyrockets by 600%, Over 218 Million Tokens Torched

Dogecoin (DOGE) and Shiba Inu (SHIB) rival Floki Inu, a popular meme-inspired cryptocurrency, has seen its burn rate soar by over 600% over the last 24-hour period after more than 218 million FLOKI tokens were permanently removed from circulation.

Timeline of Floki-inu

On October 27, 2023, Bitget announced that it was adding TokenFi (TOKEN) to its Spot market's Innovation Zone. However, shortly after TokenFi started trading, there were significant price swings that raised suspicions of market manipulation.

Generally, the entire crypto market is experiencing a bull trajectory, being led by major assets like Bitcoin and minor currencies, including memecoins. In a 24-hour timeframe, currencies, including PEPE and FLOKI, experienced impressive gains since the weekend ending on October 29.

Floki announces the launch of TokenFi, a platform designed to simplify the tokenization process in the expanding tokenization industry, projected to hit $16 trillion by 2030. The platform, backed by significant partnerships and with a strategic plan to ensure a smooth launch, reveals a larger roadmap set for October 27, 2023, with trading beginning at 3 PM UTC.

Floki initiates a transfer of 15.8 billion tokens to a Binance wallet associated with DWF Labs, with the motive behind the transfer remaining undisclosed. This move has triggered conjecture among cryptocurrency enthusiasts and market experts.

FLOKI recently took to X to address allegations and suspicions circulating in the crypto world, as well as to caution its users against scams leveraging on its brand name and reputation.

As a part of a periodic adjustment of the list of tokens available for liquidity operations on Binance Liquid Swap, an AMM-powered DeFi by Binance, the team of the world's largest exchange decided to remove the pool associated with a top-tier meme coin. What tokens are also unavailable on Binance's DeFi?

A closely followed crypto analyst is unveiling his forecast for a handful of altcoins including Chainlink (LINK), Polygon (MATIC) and Floki (FLOKI). Trader Michaël van de Poppe tells his 659,400 Twitter followers that he's bullish on the decentralized oracle network Chainlink.

Floki Inu (FLOKI), the popular meme coin, has been on a steady rise in the past few days both in price performance and general adoption. Exactly a week ago, crypto giant Binance added the cryptocurrency to the Metaverse and Gaming sections on its exchange.

The official FLOKI account has shared that they are “very close to delivering on several key promises on the FLOKI 2023 roadmap” and therefore they shared an update to show where things stand now.

Binance, the global crypto exchange renowned for its vast scale and influence, has taken a step towards promoting the widespread acceptance and usage of Floki Inu, the popular memecoin that has captured the attention of crypto enthusiasts worldwide. Embarking on a strategic initiative, Binance has ingeniously incorporated Floki Inu into two exceptional categories within its expansive ecosystem, namely the Metaverse and Gaming sections.