In the midst of recent market turbulence, Floki, the meme coin sensation, has experienced a rollercoaster ride, capturing the attention of traders and enthusiasts alike. Over the past week, Floki has encountered significant fluctuations, with a notable downturn leading to a 38.09% decline in the last 7 days and a 19.14% drop in the past 24 hours, bringing its price to $0.0001674 as of March 19th, 2024. Despite this setback, supporters remain resolute in their belief in Floki's potential.
Market Positioning and Potential
Floki's robust trading volume solidifies its position as a prominent player in the cryptocurrency realm, boasting a market capitalization exceeding $1.5 billion. Speculation abounds regarding its future trajectory, with many eyeing the tantalizing possibility of achieving a $1 valuation.
Technical Analysis
Examining Floki's daily chart reveals a bearish trend since reaching its recent peak of $0.00031500 on March 14th. Currently, the price of $0.00016900 is testing a crucial support level. A breach of this support could pave the way for further downside towards the $0.0009250 zone. Conversely, a breakout above the $0.00031500 resistance level could trigger a rally towards the all-time high of $0.00035953 and potentially beyond.
Today's candlestick opened at $0.00019245, exhibiting significant volatility with a high of $0.00019451 and a low of $0.0001610. The Relative Strength Index (RSI) sits at 49.88, hovering near the midpoint, suggesting a balanced market sentiment. Meanwhile, the Moving Average Convergence Divergence (MACD) remains in negative territory, indicating prevailing bearish momentum.
Outlook and Conclusion
While Floki faces challenges amidst market turmoil, the resilience and growing presence of the meme coin in the cryptocurrency ecosystem cannot be overlooked. As it navigates through choppy waters, Floki finds itself in competition with rivals like Bonk. The coin's ability to hold onto crucial support levels or break above resistance could determine its short-term trajectory. Should Floki maintain its support, a potential rally towards previous highs becomes plausible. However, traders and investors must remain vigilant, keeping a close eye on market dynamics and technical indicators to make informed decisions amidst the volatility of the crypto market.
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We'll look at the field of cryptocurrency fraud today, as a significant participant has entered the market. Consider this: At least four exchanges have been set up by these crooks. These platforms can look genuine, leading someone unfamiliar with the world of cryptocurrency to believe they are trustworthy exchanges.

Carefully read this article, then forward it to your friends. Gaining knowledge can enable you to save money and defend yourself against different con artists.

The first thing regarding cryptocurrency arbitrage that you should be aware of is that it is difficult to engage in inter-exchange arbitrage with tokens that rank in the top 50 on Coinmarketcap.

Market makers concentrate their attention on large coins that have a lot of liquidity, which means that these tokens' spreads vary less between exchanges. Interestingly, scammers like the TRX token, which make inter-exchange arbitrage difficult for tokens like XRP, SOL, BNB, ADA, and TRX.

Therefore, it is a complete scam right away if you are offered big tokens from the TOP 50 according to Coinmarketcap for arbitrage.

If you are provided arbitrage exchanges, you should also be aware that the TOP tokens still have a spread and that there is no liquidity on those exchanges. Furthermore, there is too much chance that the lack of liquidity may prevent you from being able to sell a token that you bought at a good price from one exchange to another. Simply put, there won't be any liquidity—you won't be able to find a buyer at the price you want. As a result, you will get even less money when selling the token you bought. Moreover, using the services of these exchangers is unneeded. In the end, if they don't have enough liquidity for even the most well-liked coins, you should be worried.

Inter-exchange arbitrage is extinct, I reiterate! Market makers, these exchanges' arbitrage bots, etc., operate on exchanges to level prices. Furthermore, there isn't even a spread on top tokens.

Liquidity is the decisive aspect when it comes to smaller tokens, or DEX-CEX bundles (Decentralized exchanges - centralized exchanges). Of course, there's always the possibility to make money, but in general, it goes like this: you buy on DEX and ship it to CEX. As a result, before the CEX exchange credits these tokens to your balance, it will take some time and there will be significant price fluctuations.

Additionally, it is improbable that you will ultimately sell for a profit. If the token is available on the Ethereum network, there will be a significant commission that is assessed during the token purchase and transfer procedures. Since bots can complete this kind of arbitration more quickly and efficiently than humans, they handle the majority of it.

I may say that I did not have a good experience with DEX-CEX arbitration. Because in this instance, "whoever had time, got to eat" is the guiding philosophy, and the work is completed by well-written and well-tuned bots. These are not publicly available, are created and used for private benefit, are not freely offered, and are most definitely not profitable deals that are shared—especially considering how transient these kinds of offers are and how rapidly you may exhaust them once you uncover one. Furthermore, avoid simply sharing them with everyone online.

Moreover, for such software, or a bot, to operate as quickly and efficiently as possible, it needs API keys that allow for both trading and fund withdrawal from exchanges. Therefore, if you did not construct this program yourself and instead purchased it somewhere, there is a very strong likelihood that it will prove to be fraudulent and ultimately transfer all of your funds to the wallet of the scammer.

There are only P2P and international arbitration available when transferring funds via bank cards or Swift transfers between several nations and their respective currencies. But in this case, a newbie has absolutely nothing to do. Cards are blocked, funds are frozen... Numerous platforms are involved, along with a great deal of tension and danger.

Now let's examine a brief illustration of inter-exchange arbitrage:

Let's go to the Cryptorank website, pick Bitcoin, and navigate to the Arbitration tab as an example. Here, it is demonstrated that there are additional lucrative choices, such as a spread of more than 6%, between the Bitstamp and HitBTC exchanges.

Solid gaps can be seen on the asset price chart when we visit one of the exchanges listed in the arbitrage links.Those.This place has no liquidity at all! As a result, packages with favourable interest rates are undoubtedly available, especially now that specialized software is available. But these bundles won't have any volume! It's just not possible to sell what you purchased and make money. Now let's examine a brief illustration of inter-exchange arbitrage:

Let's go to the Cryptorank website, pick Bitcoin, and navigate to the Arbitration tab as an example. Here, it is demonstrated that there are additional lucrative choices, such as a spread of more than 6%, between the Bitstamp and HitBTC exchanges.

Solid gaps can be seen on the asset price chart when we visit one of the exchanges listed in the arbitrage links.Those.This place has no liquidity at all! As a result, packages with favourable interest rates are undoubtedly available, especially now that specialized software is available. But these bundles won't have any volume! It's just not possible to sell what you purchased and make money. Now let's examine a brief illustration of inter-exchange arbitrage:

Let's go to the Cryptorank website, pick Bitcoin, and navigate to the Arbitration tab as an example. Here, it is demonstrated that there are additional lucrative choices, such as a spread of more than 6%, between the Bitstamp and HitBTC exchanges.

Solid gaps can be seen on the asset price chart when we visit one of the exchanges listed in the arbitrage links.Those.This place has no liquidity at all! As a result, packages with favourable interest rates are undoubtedly available, especially now that specialized software is available. But these bundles won't have any volume! It's just not possible to sell what you purchased and make money. Now let's examine a brief illustration of inter-exchange arbitrage:

Let's go to the Cryptorank website, pick Bitcoin, and navigate to the Arbitration tab as an example. Here, it is demonstrated that there are additional lucrative choices, such as a spread of more than 6%, between the Bitstamp and HitBTC exchanges.

Solid gaps can be seen on the asset price chart when we visit one of the exchanges listed in the arbitrage links.Those.This place has no liquidity at all!As a result, packages with favourable interest rates are undoubtedly available, especially now that specialized software is available. But these bundles won't have any volume! It's just not possible to sell what you purchased and make money.

Trades

Coinmarketcap is one website where you can look for information on a variety of subjects, including cryptocurrency exchange ratings. largest to smallest in size.

For this reason, you should avoid dealing with anyone who suggests using an exchange that isn't on our list, and even more so with the exchange itself.

If the exchange is ranked 200th on Coinmarketcap, it is unlikely to have any usable assets, even if it is listed there. You then make the decision: why would you visit a market where there aren't any trades for a full day? Scam of cryptocurrency arbitration

Returning to the fraud of arbitrage. How often do con artists operate? Usually, they try to entice you to engage with phoney, dishonest, or even illicit exchangers. On several exchanger aggregators, these exchangers are frequently excluded from any reliable swaps.

The first thing to look at with these dubious exchangers is their domain age. Exchangers that commit obvious fraud usually have domain ages of no more than two or three months. Because the con artists move to a new domain after committing fraud and writing negative reviews on the network, a fraudulent exchanger's domain is usually young. In addition to confirming the domain's age, you should look for exchanger evaluations on the network. As a result, if you read unfavourable reviews, you will have to refuse the exchanger's services.

If the exchanger is unfamiliar, consider them to be a scammer. If the exchanger is out of date, read the reviews and form an opinion.

Usually, exchangers use API keys to communicate with exchanges rather than holding their bitcoins in hand. The exchanger's cryptocurrency rate will therefore precisely match the exchange rate it utilizes. This is where the exchanger extracts its crypt. On top of this, though, the exchanger receives payment by adding his portion. Therefore, using Bitcoin exchangers for arbitrage is technically impossible. Steer clear of con artists' traps.

False transactions

At some point, the con artists moved one step further and started starting whole fictitious exchanges instead of just making fake exchangers. If you come across an offer to engage with an exchange that you are unfamiliar with, use Coinmarketcap to see if it is available among the leading exchanges.

On the network, for instance, there is a phoney channel devoted to cryptocurrency arbitrage. Here, they provide us with the option to browse the links they have provided while earning money from it. Finally, give them a quarter of your net profit after the day.

You are requested, no more than four times per day, to skim through the bundles given by scammers under the guise of potential trade disappointment.

The con artists write, "scrolled, waited 12 hours, repeated until the link is relevant." Please take notice of this. Just think—these allies have ligaments that matter all day! However, as both of us are aware, the real speed at which the prices of various crypto assets fluctuate... Scammers typically write complete gibberish!

Consider for yourself: why do these individuals need you if you have access to such crucial information that makes the deals you're offered so profitable? If they can receive 100% and nobody will even know about it, why would they obtain 25%? The easy response is that it's not necessary. These links just don't exist; they never have. For a minimal fee, they only permit you to perform an artificial ligament for a single experiment. During your initial small-talk exchange, the con artist pays you out of his wallet. As a result, you fall for the deception, part with a substantial sum of money, and your money is now permanently held by the con artists.

Plan for utilizing a fake exchange:

What the con artists offer is that we utilize any regular exchange, such as Bybit, as the initial exchange. This is where our money is first deposited.

But, we are now strongly advised to participate in the second exchange. This exchange is already fraudulent. It is giobits.com in this instance.

Remarkably, this phoney exchange's domain was registered over two years ago. As they say, the con artists are ready this time around.

It is a reality that some domains are just available for purchase. Thus, after purchasing a domain name that has been around for a few years, con artists put their fake exchanges, exchangers, etc. on it. Additionally, their website appears to have some history and was not created yesterday from the outside. Scammers could have, however, already been able to place a week ago on the bought domain.

In this instance, you proceed to the second step, such as visiting Coinmarketcap to verify if this exchange is included in the list of the TOP cryptocurrency exchanges. It's a scam if it's not there.

Additionally, the con artists asked for documentation attesting to the legitimacy of the Binance account. Consequently, you may provide information to scammers such as a picture of your passport, driver's license, proof of your residential address, a picture of you holding a passport, etc. Indeed, they might begin money laundering with such a set of documents if they wanted to, utilizing your data or your documents on such shady subjects you never would have thought of. In the best scenario, you'll hear from the tax office and they might even offer you a loan.

Use only reputable, well-known exchanges as a result. Avoid looking for quick money as it's usually a hoax.

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