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A community decision to burn 2% of token supply sparked a 50% price surge for Floki Inu (FLOKI) in 24 hours, culminating a 300% weekly rally driven by excitement around future scarcity and ecosystem growth.

Floki (CRYPTO: FLOKI) has seen its value skyrocket by 326% in just a week after its community approved a plan to destroy 2% of its total tokens. The decision was made through a vote where nearly all participants were in agreement.

Yesterday, it surged by over 100%, and in the last 7 days, it soared by a remarkable 343%, according to reports. Floki DAO Votes to Burn 190 Billion Tokens Developers recently proposed a token burn aiming to remove 190 billion tokens valued at $11 million from circulation.

Last weekend, Satoshi Street witnessed a massive rally across the entire meme coin sector, With Shiba Inu (SHIB), Dogecoin (DOGE), Pepe coin (PEPE) registering gains anywhere between 30-50%. As meme coins receive a push from the broader market rally, investors need to remain cautious into taking fresh bets.

Memecoins such as Shiba Inu (CRYPTO: SHIB), PEPE (CRYPTO: PEPE), Floki (CRYPTO: FLOKI), and BONK (CRYPTO: BONK) are rallying, with prices rocketing. What Happened: The analytics platform Santiment reports that these memecoins have witnessed an average trading volume increase of over 3,000% in the last seven days.

Floki Inu (FLOKI), a canine-themed cryptocurrency, has witnessed a remarkable surge in its price, capturing the attention of investors, traders, and enthusiasts alike. The coin's value has experienced a sharp increase, with the past 24 hours alone seeing a surge of over 50%.

The price of Pepecoin has skyrocketed nearly 400% amidst a surge of interest and speculation in meme-themed cryptocurrencies,

Pepe token price has risen nearly 400% in the past week and its market cap has doubled in the past two days.

Despite FLOKI's upcoming token burn, its price might turn bearish soon.

Ethereum (CRYPTO: ETH) co-founder Vitalik Buterin has pointed out that important parts of cryptocurrency technology are not getting enough investments compared to popular meme currencies like “dogcoins.” What Happened: As Shiba Inu (CRYPTO: SHIB), Dogecoin (CRYPTO: DOGE), FLOKI (CRYPTO: FLOKI) and other meme coins rally, Buterin on Saturday responded to an X user Roko about the crypto infrastructure's deficiencies.

Floki (FLOKI), a dog-themed cryptocurrency, experienced a staggering 300% price increase in the past 7 days.

Meme coins dominate the charts this week.

FLOKI could continue to rally, but bulls should wait for better risk-to-reward conditions to buy more.

In the fast-paced realm of cryptocurrency, the recent surge in the price of the dog-themed token Floki (FLOKI) has captured the attention of investors worldwide. Over the past 24 hours, FLOKI's value has skyrocketed by more than 100%, fueled by a community-driven proposal to burn 2% of the token's supply.

While Bitcoin's price has paused and even dipped slightly below $62,000, meme coins have been making headlines this week with remarkable gains, particularly led by Dogwifhat (WIF). Although the total crypto market cap has slightly decreased over the day, it has surged by over $100 billion in the last seven days.

DOGE is among the most modest performers from the meme coin world with a mere 70% weekly surge.

Shiba Inu's price shot up to its highest point in months during early trading on March 2, likely influenced by Bitcoin's recent surge past $64,000. Shiba Inu (SHIB) Price Surge and Market Activity At the time of writing, the price of SHIB experienced a remarkable 68.5% increase to $0.00002196, representing a significant weekly surge of 122.8%.

Another week ends with phenomenal developments witnessed across the cryptocurrency landscape. Amid this flurry of developments, Bitcoin, Shiba Inu, and Floki appear to have marked a storm of breakthroughs with their cryptographic venture, fueling immense optimism among crypto market enthusiasts across the globe.

Floki was the only major memecoin with a significant portion of its supply staked.

Max Schwartzman, CEO of BecauseBitcoin, a Bitcoin-oriented news site, predicts Pepe (CRYPTO: PEPE) to outperform its bigger memecoin rivals based a on technical analysis of their trading pairs. What Happened: Schwartzman took to X, formerly Twitter, to share his analysis, saying he is "thrilled" for the Dogecoin (CRYPTO: DOGE), Shiba Inu (CRYPTO: SHIB), Bonk (CRYPTO: BONK) and Floki Inu (CRYPTO: FLOKI) communities.

The Floki project has proposed burning 190.9 billion FLOKI tokens, representing about 2% of its total circulating supply.

Shiba Inu, the dog-themed meme coin, witnessed a surge in its burn rate, with a staggering 3,0187% increase on March 1. Meanwhile, Floki is up nearly 80% from 24 hours ago.

As the price of Bitcoin remains strong, trading close to its peak from 2021, numerous altcoins are also picking up pace, with Ethereum leading this surge. Consequently, the dominance of these altcoins is on the rise, capturing the attention of investors eager for the upcoming altcoin season, which is just around the corner.

Dogecoin targets $0.18 after breaking out from a symmetrical triangle pattern, while Pepe coin tests a key level at $0.00000448. A breakout could lead to a new target of $0.00000836.