TL; DR
Full story
Meme coins are exactly what they sound like:
Tokens created from memes.
People usually buy them for fun, but a lot of these tokens have created some pretty strong communities around them.
(Uhhh, hello Doge father).
Which brings us here:
FLOKIa dog-related meme coin, recently approved a proposal to burn 2% of the token’s supply (worth $11 million at the time).
“Cool, cool, so what does that mean?”
Burning coins removes tokens from circulation forever usual causes the price to go up.
(The less supply we have of something, the more we tend to value it).
That means for healthier tokenomics.
And that certainly seems to be the case right now. The FLOKI token saw a rapid price increase of 100% over 24 hours.
Not bad!