- Floki whales were actively buying as the large holders’ inflow surged by 1451%.
- Floki has declined over the past 4.29% over the past 24 hours.
Over the past few days, I’ve noticed a significant drop in the value of my Floki [FLOKI] investment. After reaching a high of $0.000206 just three days ago, it has plummeted to a low of $0.00016.
In the face of a significant drop in the cryptocurrency market, meme-based coins have taken the brunt of the fall. Yet, this decline presents a potential purchasing chance for many investors, particularly large ones known as “whales.
As such, large holders have turned to a buying spree as they buy the dip.
Can Floki see a whale-driven rally?
Based on AMBCrypto’s examination, large investors (whales) have been consistently purchasing Floki. When these big investors start a buying frenzy, it indicates optimistic feelings because they anticipate an upturn in prices within the short term.
It’s clear that the number of whales investing in Floki has significantly increased, as we’ve seen a staggering 1451% jump in capital inflow from these large holders. The initial investment was at 12.8 billion, but it has now reached an impressive 199.6 billion, indicating a massive wave of whales purchasing Floki.
To put it simply, the amount of money flowing into this large investor’s assets has significantly increased from a net loss of 2.42 billion to a gain of 164.7 billion. In other words, more money is coming in than going out, indicating a strong inflow of capital.
The behavior of these whales is also backed up by a rise in the frequency of significant financial exchanges. As reported by IntoTheBlock, this trend has escalated by approximately 62.5% within the last 24 hours.
Such a rise in transactions shows that whales are actively engaged with the network.
Over the last fortnight, the quantity of Floki’s supply held by large investors (whales) has increased from 7.47 trillion to 7.79 trillion. This trend suggests that these investors are stockpiling when prices are relatively low and selling as prices climb, a typical behavior known as accumulation.
To put it simply, after a significant drop, Floki’s MVRV Ratio stands at 2.51, suggesting potential underpricing. This low ratio is often seen as a signal for investors to take advantage of a buying opportunity, as it indicates that the memecoin might be available at a relatively cheap price.
Historically, Floki tends to flip its direction and rise when the MVRV (Market Value to Realized Value) falls below 2.5, and reaches its peak at approximately 4.2. This pattern implies that the memecoin might experience a change in trend from downturn to an uptrend.
Realistic or not, here’s >FLOKI’s market cap in BTC’s terms
Despite whales’ ongoing purchases, the value of the memecoin has persisted in falling. At present, the coin is being traded at $0.0001646, representing a 4.29% decrease on daily graphs and furthering a downward trend that has lasted for a month.
Despite Whale accumulation not showing up on Floki’s price charts yet, it sets the stage for a possible comeback.
If whales maintain their purchasing activity, it’s possible that the price of Floki might regain its value around $0.00018. Conversely, if the existing downward trend continues, the memecoin could experience a drop to approximately $0.00015.
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2025-01-09 22:47