570 billion FLOKI at risk of sell-offs – Here’s the ONE move that can save it!
The post 570 billion FLOKI at risk of sell-offs – Here’s the ONE move that can save it! appeared on BitcoinEthereumNews.com.
FLOKI is hitting weekly lows, making it tough to keep HODLers holding strong So, what does it need to finally break out? FLOKI has seen steady declines over the past two months, with the crypto now sitting just 12% above its election day opening price. With more than 80% of its gains wiped out, only 6.98K addresses remain in profit since the “Trump pump” began. Clearly, investors are turning away from HODLing. However, with the market shifting back into the green, is it time to reconsider holding on? A need for an incentive FLOKI’s address count has hit a new high of 88.08k, up just 8% from 80.9k two months ago. And yet, the memecoin soared by a massive 124% from its Election Day opening price of $0.000125, all thanks to the Trump pump. Source: IntoTheBlock Over the same period, billions of FLOKI tokens flew off the shelves daily, with whales clearly driving the surge. Now, 72% of FLOKI’s supply is held by just 10 big players. With these whales going quiet in recent days, it’s no wonder FLOKI has taken a sharp nosedive. As a memecoin, FLOKI thrives on “hype.” And, it’s working overtime to generate it. From its recent listing on Arkham (trading platform) to its own debit card, strategic partnerships, and real-world use cases, it’s clear FLOKI is aiming for the spotlight. However, here’s the catch – The impact on HODLer sentiment has been surprisingly weak. Despite all this buzz, FLOKI’s trading volume has fallen by 31.99%, dropping to $138.02 million in just the last 24 hours. Even with its RSI deeply oversold, there’s been little “dip” buying, leaving FLOKI well below its Election Day peak of $0.000280. If this trend continues, those 6.98K addresses holding 565.89 billion FLOKI tokens – purchased at a maximum price of…
Filed under: News - @ January 16, 2025 5:13 am