<\/p>\n
- \n
- TOKEN was up by over 50%, while FLOKI\u2019s price surged by 4% in the last 24 hours.\u00a0<\/span><\/em><\/li>\n
- On-chain metrics turned bearish on FLOKI, suggesting a trend reversal.\u00a0<\/span><\/em><\/li>\n<\/ul>\n
Floki Inu [FLOKI]<\/span><\/a> has registered an impressive performance over the last 24 hours as its price rallied. During that period, the meme coin also made an announcement related to a proposal for TokenFi.\u00a0<\/span><\/p>\n
\nRealistic or not, here\u2019s<\/span> FLOKI market cap in BTC\u2019s terms<\/span><\/a>\u00a0\u00a0<\/span><\/p>\n
\nThe newly submitted proposal, if passed, will bring a noteworthy change to Tokenfi\u2019s operations.<\/span><\/p>\n
Floki submits a new proposal for TokenFi<\/b><\/h4>\n
TokenFi, which is one of the top topics in the crypto space, has witnessed a major development in the recent past. FLOKI recently submitted a proposal asking for changes in its tax mechanism. <\/span><\/p>\n
As per the tweet, a new proposal just went live for the Floki DAO to vote on to determine whether the TokenFi transaction tax should be reduced to 0.3%.<\/span><\/p>\n
\n
A new proposal just went live for the #Floki<\/a> DAO to vote to determine whether or not the @TokenFi<\/a> transaction tax should be reduced to 0.3%.<\/p>\n
This is a critical vote that allows us to initiate the next phase of growth for #TokenFi<\/a> \/ $TOKEN<\/a>.<\/p>\n
More importantly, this vote\u2026 https:\/\/t.co\/IScPvD69OL<\/a> pic.twitter.com\/QTfDhdaahT<\/a><\/p>\n
\u2014 FLOKI (@RealFlokiInu) November 1, 2023<\/a><\/p>\n<\/blockquote>\n
This vote strengthens the utility of the FLOKI token, as it establishes the power of the Floki DAO when it comes to determining the future TokenFi. <\/span><\/p>\n
For the uninitiated, TokenFi is a leading project in the tokenization industry, with a circulating market cap of $35 million and a diluted market cap of $350 million. <\/span><\/p>\n
While this happened, TOKEN\u2019s price rallied substantially. In fact, in just the last 24 hours, TOKEN\u2019s price surged by more than 57%. According to<\/span> CoinMarketCap<\/span><\/a>, at the time of writing, it was trading at $0.04716 with a market capitalization of over $44 million.<\/span><\/p>\n
The price hike was also accompanied by a 100% rise in its 24-hour trading volume, which acted as a foundation for the surge.<\/span><\/p>\n
![\"\"](\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/11\/TOKEN_1D_graph_coinmarketcap.jpeg\")
<\/a><\/p>\nSource: CoinMarketCap<\/p>\n<\/div>\n
FLOKI\u2019s performance is also impressive<\/b><\/h4>\n
Like TOKEN,<\/span> FLOKI<\/span><\/a>\u2019s daily chart also remained green. CoinMarketCap\u2019s data revealed that the meme coin was up by more than 4% in the last 24 hours. At press time, it was trading at $0.00003228, with a market cap of more than 43056 million, making it the 108th largest crypto.<\/span><\/p>\n
Though the price action looked optimistic, the metrics told a different story.<\/span><\/p>\n
\nHow much are<\/span> 1,10,100 FLOKIs worth today<\/span><\/a>?<\/p>\n
\nAccording to data analyzed by AMBCrypto via Santiment, negative sentiment around the meme coin increased last week, as evident from the drop in its Weighted Sentiment along with a considerable decline in its Social Dominance. <\/span><\/p>\n
Its Price Volatility 1w also dropped in the recent past, which was surprising, considering its bullish price action.<\/span> Moreover, FLOKI<\/span><\/a>\u2019s uptrend might come to an end soon, as its MVRV ratio registered a downtick over the last seven days.<\/span><\/p>\n
- On-chain metrics turned bearish on FLOKI, suggesting a trend reversal.\u00a0<\/span><\/em><\/li>\n<\/ul>\n
![\"\"](\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/11\/Floki-on-Ethereum-FLOKI-16.51.45-02-Nov-2023.png\")