FLOKI Burn Tracker Unveils Impressive Token Burns Within a Single Hour

Crypto News- The FLOKI coin tracking platform Burn Floki, recently announced a notable burn of approximately 36,285,089 FLOKI tokens, equivalent to $1,289, all occurring within a single hour. In the last 24 hours, the platform registered the burning of about 44,998,414.51 tokens, constituting a substantial portion of the total FLOKI supply that has been removed from circulation over the past month.

FLOKI Burn Tracker Unveils Impressive Token Burns Within a Single Hour

As of now, approximately 57.694% of the token’s total supply has been burned, although it’s worth noting that there haven’t been any recent burns in the last hour, suggesting a slowdown in this process.

Concurrently, FLOKI’s price performance experienced a decline, with the token trading at $0.00003525, marking a 1.20% decrease over the previous day. The 24-hour trading volume also saw a significant drop, decreasing by more than 31% to $71.04 million.

Despite these recent developments, FLOKI’s success in the previous week remains evident in its weekly performance, which exhibited a notable 31.57% increase. Over the past month, FLOKI’s price has risen by an impressive 112.77%.

From a technical standpoint, there is a significant bearish flag formation to watch, with the daily RSI line possibly crossing below the daily RSI SMA line. This suggests a potential price decline in the coming days.

If this technical pattern confirms, FLOKI’s price might test the $0.00003315 support level, with the possibility of falling even further to $0.00002550. However, if buyers reenter the market within the next 48 hours, there is the potential for the altcoin’s price to surge as high as $0.00004270.