FLOKI seems to have a large number of holders currently in deficit.
Everyone's eyes are on the whales, watching to see if they will help drive up the price.
The past week has been a turning point for the memecoin community, as it has been struggling to attract investors due to a recent preference for less volatile, more stable assets. FLOKI has particularly become a prime example of this shift.
In just seven days, FLOKI achieved an impressive 22% growth, showing signs of recovery, which aligns with the broader shift in the memecoin market. So, as the green shoots of growth begin to appear, does this signal the start of a larger-scale rebound for FLOKI?
FLOKI is taking high-risk gambles.
The mid-December shock severely impacted the cryptocurrency market, with both high-end and mid-tier assets suffering from Bitcoin's [BTC] sharp decline.
However, just a week ago, the situation was vastly different. With BTC surging to $99,000 for the first time, altcoins skyrocketed while meme tokens took a back seat.
Fast forward to the last week of the fourth quarter, and the memecoin market saw a surprising resurgence, with charts showing bullish trends and rumors of a potential 'super cycle'. However, for FLOKI, the journey is far from over.
At the time of writing, its price is $0.0001800, still a long way from the recent high of $0.000300. Despite the recent rise sparking some optimism, FLOKI needs sustained momentum to rebuild investor confidence and return to profitability.
The risk is high—around 12,000 addresses hold 30.7 billion FLOKI tokens, purchased at an average price of $0.000259, and now they are all underwater.
Clearly, these holders are watching closely. Therefore, FLOKI is under pressure for a significant rebound. In fact, analysts predict that FLOKI could rise by 50%, potentially pushing it to $0.00027, but this won't be easy.
High consistency is required.
From FLOKI's daily price chart, it's clear that the token has maintained a relatively consistent price trend. Nonetheless, market sentiment plays a significant role in the memecoin market. This space is known for its volatility, and FLOKI is no exception.
Currently, about 72% of FLOKI's total supply is held by a small group of whales, who collectively control around 71.7 trillion tokens. These whales are clearly playing a short-term game aimed at quick profits.
Therefore, while a continued rise to $0.00030 sounds enticing, it may be overly optimistic. A more achievable short-term target, if conditions are right, might be $0.000260.
That said, don’t expect memecoins to rebound overnight. Whales are known for entering the market at low prices and then selling at high prices—if this pattern continues, the $0.000260 level might face resistance, triggering potential sell-offs.
Due to the stakes involved, the coming days will be crucial for FLOKI and the broader memecoin market.