#FLOKI Frenzy: Whale’s 19 Billion Buyout Ignites Price Surge, But Will It Last?
Story Highlights
Whale investor buying a massive amount of FLOKI coins caused the price to jump despite a bearish market.
whale's potential profit-taking and FLOKI's oversold indicator suggest there could be short-term volatility.
Despite the challenges, analysts predict FLOKI's price could reach $0.00020 by summer and $0.00030 by year-end.
In the rollercoaster world of cryptocurrency, Floki Inu, a leading meme coin, has defied the odds by skyrocketing in value amidst a downturn in the market. This surprising surge, climbing over 2%, has caught the eye of investors and analysts alike, providing a glimmer of optimism during a bearish period.
What could this mean? Read on.
What Are the Whales Upto?
The recent spike in FLOKI’s price can be attributed to a strategic move by a whale investor, who made a substantial purchase of FLOKI coins totaling an impressive 19 billion. Identified by the wallet address “0x864…9e814”, this whale’s actions, closely monitored by Scopescan, have sparked discussions about its intentions and the potential impact on FLOKI’s trajectory in the days ahead.
The whale’s strategy involved withdrawing a considerable amount of FLOKI coins from three major crypto exchanges: KuCoin, and Gate.io. The total withdrawal amounted to a staggering 18.76 billion coins, valued at approximately $3.28 million.