Will Floki price rise 40% to ATH as token burn accelerates

Will Floki price rise 40% to ATH as token burn accelerates

Floki forms numerous bullish patterns, which observers say could point to more upside— potentially to an all-time high this year.
Floki (FLOKI), the sixth-biggest meme coin, was trading at $0.000256, pushing its market cap to over $2.4 billion.
The coin could have more upside, helped by the ongoing token burn. Data by CryptoEye showed that Floki has burned over 103 billion tokens in the last 12 months.
It burned 4.9 billion tokens in the last three months, leaving the total coins in circulation at over 9.6 trillion. According to Dune Analytics, the number of these circulating tokens has continued to fall in the past few months.

These token burns will continue in the longer term, following a vote earlier this year that authorized the elimination of 15.2 billion tokens. Token burns help to boost a crypto asset’s value by making the existing ones more valuable.

The Floki price is also doing well, helped by the ongoing inflows into the Floki Locker. Data shows that the total value locked in the network rising to a record high of over $57 million. This is a strong number since it started the year at around $10 million.