In 2012, Bitcoin experienced its first halving. Just 11 months later, it climbed to an unprecedented peak, with a 262-fold increase. At this moment, the charm of digital currency was recognized by the world.
In 2016, Bitcoin's second halving came as expected. After 16 months of trials and tribulations, it once again emerged with a 53-fold increase. This time, the legendary story of Bitcoin has become even more popular.
In 2020, Bitcoin's third halving came as expected. After 17 months of precipitation and accumulation, it once again reached its peak, with an increase of 18 times. This time, the legend of Bitcoin was once again praised by the world.
In 2024, Bitcoin will be halved for the fourth time. We can't help but ask: How long will it take for Bitcoin to reach a new peak this time? How many times will the increase be? This is an unknown number, and a mystery that everyone in the cryptocurrency circle is looking forward to. But no matter what the result is, Bitcoin will continue to write its own legend.
Let us look forward to the glorious moment brought by the fourth Bitcoin halving! Recently, the altcoin market has fallen across the board. Many pessimists believe that there will be no altcoin bull market. Here, I can tell you for sure that the altcoin bull market will definitely come. At the same time, FLOKI is also releasing bullish sentiment. It was recently discovered that a savvy trader named 0x403 recently invested 14 billion Floki Inu (FLOKI) tokens into the Floki ecosystem, worth about $2.36 million. This strategic move was made after 0x403 accumulated these tokens two years ago at an average entry price of $0.00001207.
Unrealized profits were $2.19 million, reflecting a respectable return on investment (ROI) of approximately 1,293%. This massive staking activity highlights the confidence of long-term FLOKI holders in the Floki Inu market and may indicate bullish sentiment within the FLOKI community.
FLOKI price and trading volume surge after staking
0x403's decision to stake such a large number of FLOKI tokens could have a significant impact on the price and stability of the cryptocurrency. Staking typically reduces the supply of tokens in circulation, which puts upward pressure on prices due to increased scarcity. The move demonstrates strong confidence in the future of the Floki ecosystem, which could attract other investors.
FLOKI is experiencing bullish sentiment with a 5.52% price increase to trade at $0.0001781. The market cap has also risen by 5.14% to $1.69 billion. Meanwhile, FLOKI’s trading volume has increased by 9.34% to $300.15 million, suggesting that the bullish sentiment in the Floki Inu market is likely to continue in the coming hours. The 24-hour intraday low and high were $0.0001661 and $0.0001906 respectively.
Whale Holdings enhances Floki Inu's stability
According to the latest data, Floki Inu whales hold 64.86% of the total supply. Large whale holdings can lead to greater market stability and reduced volatility, as these investors are generally more committed and less likely to sell large amounts of tokens quickly.
Large whale holdings indicate that important investors are confident in the long-term potential of Floki Inu, which can attract more retail investors and further drive the adoption and value of the token. Large whale holdings can create a scarcity effect, and the price of the token may rise as demand grows.
The large number of tokens held by whales in the FLOKI market indicates that these large investors are confident in the future of the token. This confidence is contagious, attracting smaller investors who see whale activity as a positive sign. As more investors join the market, increased demand can push up token prices, forming a positive feedback loop that further increases investor confidence.
Floki Inu aims for higher level after receiving support
In the 24-hour technical analysis, the Fibonacci indicator price on Floki Inu shows that the recent uptrend encountered resistance near the 0.5 Fibonacci level of $0.00022945. The price has since retreated to find support at the 0.786 level, or $0.00016106, indicating a key area where buyers previously stepped in. The current price rebound to $0.00017883 indicates the start of a recovery as it attempts to move back above higher retracement levels.
The relative strength index (RSI) is also indicating a possible shift in momentum, recovering from lows of 36.70, suggesting that selling pressure may be easing. If the price continues on this upward trajectory, the next significant resistance levels could be located at the 0.5 and 0.382 retracement levels, which could act as key barriers to further price gains.
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