Phoenix token is expected to achieve a significant price increase in the current bull cycle, which is expected to be up to three times, with the help of whale investors on the Kraken platform, leading the overall price increase!
During the recent market correction, whale investors adopted a savvy buying strategy, which reflected the significant financial losses suffered by retail investors who rushed into the market at the peak of prices. However, the latest data reveals that the CTK token may be about to turn around. Currently, CTK is trading steadily at $0.8991, showing an increase of 11.66%. Its market value reached $123.24 million (approximately equivalent to Rs. 10.3 billion), and its fully diluted market value also matched it, accounting for 0.0051% of the cryptocurrency market share. It is worth noting that the circulating supply and total supply of CTK remain at 135.14 million.
Looking back at history, CTK was officially issued on October 27, 2020, with an initial price of $0.77 (equivalent to 64.3412 rupees), and then reached a staggering high of $3.974 (equivalent to 332.0689 rupees) on April 7, 2021. Currently, CTK ranks 389th in the cryptocurrency rankings, and considering its strong performance in the past, the current price level indicates great potential for appreciation.
The activities of whale investors have had a significant impact on the market performance of CTK. They took advantage of the market downturn to absorb a large number of CTK tokens, which not only triggered a short-term rebound in prices, but also laid a solid foundation for the subsequent continued rise. Although some retail investors suffered losses due to entering the market at a high point, this series of operations by whales undoubtedly painted an optimistic picture for the future development of CTK.
In summary, combined with the current market dynamics of CTK and the strategic layout of whale investors, the future of this token is expected to be high. Although uncertainty in the cryptocurrency market remains, the positive trend shown by CTK indicates that its price is expected to triple in the current bull market. Of course, investors should be cautious when making decisions, conduct sufficient market research, and recognize the high risks inherent in cryptocurrency investment.
