In the past few hours, Floki, a meme coin with dogs as its core, is facing a roller coaster ride after the DAO of the operation issued an important proposal. This token is generally called Shiba Inu murderer. After a community proposal, the price of this token soared by 25%, which will damage many of its current tokens.

4.97 trillion yuan Floki burn

The developer of Floki Inu presented a renovation and reform innovation, including the cancellation of the use of Floki tokens with the same name of a new project worth nearly $55 million, and the reduction of tax on each transaction. As another logical reasoning, the proposal lists the potential safety risks related to bridges. It is reported that in the past year alone, more than $2 billion will be used in the wrong area or stolen from the cross-chain bridge.

Tokens can be destroyed through a process called "ignition", which reduces the overall supply of tokens in circulation. On the contrary, we only need to maintain consistency, and at this time we can improve the value of each dynamic password.

The proposal emphasizes:

More system loopholes and information appear to show that cross-chain bridges are likely to form a multi-way alliance, especially if they have a large supply of tokens.

Floki's price soared

They then showed that, taking Floki as an example, the attack on their key cross-chain bridge would cause destructive damage to the new project. Because the bridge currently bears 55.7% of the total circulation supply of Floki, the project reached the limit value.

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Frochi's tokens were first forged in Ether, with a total of 10 trillion yuan, and finally expanded to BNB franchise stores in 2021, touting its speed and lower price. This expansion should be a response to the community regulations.

As an immediate conclusion of the rising sentiment closely around the token, the total market value and 24-hour trading volume soared by 20% to $118 million and 37% to $4 million respectively; This shows that the enthusiasm of the sales market is also growing. At this stage, the price of Floki is US $0.00001316. According to the information of CoinMarketCap, the encryption market tracking organization, this means that it has increased by 25% in the past 24 hours and 30% in the past 7 days.