FLOKI Price Skyrockets Over 200% Weekly, Triggering Rush to Cash Out Profits
Over the past week, the price of FLOKI surged by nearly 200%, reaching a peak of $0.000281 on Saturday, marking a 13% increase in just one day.
An investor wielding significant capital deposited 200.9 billion FLOKI tokens onto an exchange, valued at over $50 million, ultimately netting profits of around $45 million.
Scheduled for Saturday, the burning of over 190.9 billion FLOKI tokens is anticipated to fuel further gains in this meme currency.
This surge propelled FLOKI's market capitalization to new heights, with the volume surging to $2.58 billion alongside the record-breaking price.
Despite profit-taking maneuvers, the upward trajectory of FLOKI's price remains intact, buoyed by increased trading volumes on exchanges like Paribu, BTCTurk, and Bithumb.
With FLOKI emerging as one of the most traded cryptocurrencies on these platforms, holders are witnessing a parallel rise in the meme currency, as illustrated by Santiment's Network Realized Profit/Loss statistic.
A substantial transfer of 200.9 billion FLOKI tokens to Gate.io, valued at $50.3 million, indicates potential profits of $44.3 million should the whale behind this move decide to sell.
As of Saturday, FLOKI's price stands at $0.000281, reflecting a staggering 200% weekly surge and a daily increase of 13%.
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