Crypto News

FLOKI Sees Surge In Value Amidst Profit-Taking By Whales

The digital currency market recently witnessed a significant surge in the value of FLOKI, a meme-based cryptocurrency that has garnered considerable attention from investors.

This upswing in FLOKI’s value has translated into substantial profits for large investors, signaling a positive sentiment among market participants.

Yesterday, the price of $FLOKI experienced a remarkable increase of approximately 75%, reflecting the growing enthusiasm surrounding the cryptocurrency.

However, on-chain data has revealed a noteworthy trend of profit-taking among whales, as several large investors have begun unstaking their FLOKI holdings and selling them for profits.

In the past six hours alone, six wallets have unstaked a total of 30 billion $FLOKI tokens, amounting to $7.14 million, and have initiated selling activities.

Among these transactions, smart whale 0xf63 stands out, having deposited a staggering 200.9 billion $FLOKI tokens, valued at $50.3 million, into

If indeed selling, this move would result in a remarkable profit of $44.3 million, marking a substantial 731% increase in just 1.5 months.

Progressive FLOKI Tokens Movements By Whale Wallet To Watch

Interestingly, the whale had initially withdrawn these FLOKI tokens from and Binance at an estimated cost of $6.05 million on January 18, 2024.

Should the whale proceed with selling now, the estimated profit would soar to $44.25 million, further highlighting the lucrative nature of FLOKI investments in recent months.

Additionally, it is worth noting that the whale still retains substantial holdings of 1.24 trillion SHIB tokens, valued at $45.1 million, and 11.4 million BIGTIME tokens, worth $5.82 million.

The total unrealized profits from these holdings amount to $34.5 million, underscoring the significant gains realized by the whale across multiple cryptocurrency investments.

As whales engage in profit-taking activities, the FLOKI market continues to evolve, with investors closely monitoring developments to gauge future market dynamics and investment opportunities.

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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Image Source: anaki2405/123RF // Image Effects by Colorcinch

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