The asset recaptured the territory at $0.000026 for the first time since April 2022.

Floki Inu, the fast-growing dog-themed multi-chain token, has staged a rally which has seen it surge by 114% in the past seven days, leading to values last seen before the Terra collapse. Floki’s recent price rally was majorly triggered by the recent passing of a proposal which aims to burn 4.97 trillion tokens.

The asset’s recently-engineered rally began on January 27 when it was still consolidating at the $0.000011 price level. The rally saw Floki appreciate by 59% to $0.0000178 overnight. This uptrend spilled into January 29, as the asset attained a 10-month high of $0.00002666 after a further 49% appreciation. The last time Floki saw these levels was before the Terra implosion of May.

(By ALBERT BROWN)