This Meme Coin Goes Up in Flames with Unexpected Incineration: How Did the Price React?

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Floki coin Tracking platform Burn Floki announced on X yesterday that approximately 36,285,089 FLOKI tokens were burned from the total supply in just 1 hour. announced. According to the post, the burned FLOKI was worth approximately $1,289.

Meanwhile, FLOKI’s burn tracking platform showed that approximately 44,998,414.51 tokens were burned in the last 24 hours. Yesterday’s big burn accounted for a large portion of the 116,965,689.17 FLOKI tokens removed from the offering over the past month.

So far, approximately 5,769,420,432,475.91 (57.694%) of the token’s total supply has been burned. However, it is worth noting that FLOKI coin token burns have slowed down a bit as zero burns have occurred in the last hour.

Along with the burn rate, FLOKI’s price performance also decreased. CoinMarketCap noted that FLOKI is trading at $0.00003525 after its price dropped 1.20% over the past trading day.

meme coin‘s 24-hour trading volume also decreased by more than 31%. This caused it to drop to $71.04 million. On the other hand, FLOKI’s success last week was still evident on longer time frames as its weekly performance increased by 31.57%. FLOKI’s price increased by 112.77% last month.

Floki coin

From a technical perspective, a significant bearish flag was on the verge of being triggered. At the time of writing, the daily RSI line was trying to break below the daily RSI SMA line. This indicates that buyers are losing strength. Additionally, it showed that it could lead to a drop in the price of FLOKI in the next few days.

Koinfinans.com If this technical flag is confirmed and confirmed, FLOKI’s price may be at risk of falling below the $0.00003315 support level. After that, continued selling pressure could push the price of the meme coin down to $0.00002550. However, if the bulls step in over the next 48 hours, altcoinIt can increase the price of up to $0.00004270.


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