The value of Floki Coin ($FLOKI) has experienced a remarkable surge, gaining 7% today and reaching a 24-hour high of $0.000311, edging closer to a new all-time high.
This bullish momentum has drawn considerable attention within the cryptocurrency community.
As the price of $FLOKI continues to climb, notable on-chain activities have been observed.
A trader identified by the wallet address 0x89B recently unstaked and transferred 3.72 billion $FLOKI, valued at approximately $1.03 million, to the cryptocurrency exchange Gate.io.
This move comes after the trader originally withdrew these tokens from Gate.io on February 6, 2024, at a much lower price of $0.0000274, with an estimated initial cost of $102,000.
This smart trader gains 10x (+$929K) from $FLOKI after 3.5 months!
• withdrew 3.72B $FLOKI (~$102K) from #Gateio on Feb 6;
• moved all $FLOKI (~$1.03M) to https://t.co/D7tjEBpoL0 deposit 11 hours ago, after the price soared 32% (7D).
• would make $929K if selling now.… pic.twitter.com/CRe9Ls4D0c
— Spot On Chain (@spotonchain) May 28, 2024
If the trader decides to sell at the current price of $0.000277, the realized profit would be substantial. Calculations indicate that the trader could secure an estimated profit of $929,000, representing a remarkable 911% return on investment after holding the tokens for just over three and a half months.
The significant price appreciation of $FLOKI highlights the growing interest and speculative investment in meme coins within the cryptocurrency market. Traders and investors alike are closely monitoring these trends, which often result in swift and substantial financial gains.
As $FLOKI approaches its new all-time high, market participants remain vigilant, ready to capitalize on the prevailing bullish sentiment. The recent activities of prominent traders such as 0x89B underscore the dynamic nature of the crypto market, where strategic moves can lead to impressive profits in a relatively short period.
The continued upward trajectory of $FLOKI serves as a testament to the volatile yet potentially lucrative landscape of cryptocurrency trading, particularly within the realm of meme coins.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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