According to the Blockchain Reporter Analytics:

$FLOKI Down 17% After Dormant Holder Dumps 15B Coins

The prominent meme token $FLOKI’s price has dipped by 17.7% during the recent twenty-four hours. Spot On Chain, a popular on-chain analytics company, has disclosed that the 17.7% decline of Floki takes place simultaneous to a formerly dormant wallet’s reactivation as it has transferred $2.27M to Binance. The analytics provider took to its official social media account to provide the details of the respective development.

In its new X post, Spot On Chain has revealed that the wallet associated with the Floki Inu project has recently awakened. This occurs following its inactive status for almost 2.5 years. The respective coins accounted for $2.27M in total. Such a big transaction occurred just before a massive price decline. This has raised speculations and concerns about the likely reasons behind the incident.

The 15.22B $F$FLOKI ins originally emerged from the deployer contract of Floki to the respective wallet in 2022. That was the time when $FLO$FLOKI reportedly changing hands at a substantially decreased price of almost $0.0000307. This makes the present transfer even more noteworthy in the case of value and volume. This token shift’s timing has paved the way for broad-level speculation among traders and investors.