The post Floki whales are actively buying signaling a potential recovery appeared on BitcoinEthereumNews.com.

Floki whales were actively buying as the large holders’ inflow surged by 1451%. Floki has declined over the past 4.29% over the past 24 hours. Since hitting a high of $0.000206 three days ago, Floki [FLOKI]  has experienced a sharp decline. Over this period, the memecoin has dipped to a low of $0.00016. With the crypto market experiencing a massive dip, memecoins have been the most hit. However, this dip has created a buying opportunity for most investors, especially whales. As such, large holders have turned to a buying spree as they buy the dip. Can Floki see a whale-driven rally? According to AMBCrypto’s analysis, whales have been actively buying Floki. When whales turn to buying spree, it reflects positive sentiments as they expect prices to rebound in the near term. Source: IntoTheBlock This trend is evidenced by the fact that the capital inflow from whales has skyrocketed. As such, large holders’ inflow has surged by 1451% rising from 12.8 billion to 199.6 billion. This shows that whales are buying Floki in droves. Source: IntoTheBlock As such, the large holder’s netflow has surged from -2.42 billion to 164.7 billion. This shows that there’s more capital inflow into the asset than outflow. Source: IntoTheBlock This movement among whales is further supported by an increase in the number of large transactions. According to IntoTheBlock, this has surged by 62.5% over the past day. Such a rise in transactions shows that whales are actively engaged with the network. Source: Santiment Additionally, Floki’s supply held by whales has surged from 7.47 trillion to 7.79 trillion over the past two weeks. This reflects accumulation behavior from whales, as they buy when prices are low and sell when prices rise. Source: Santiment Finally, Floki’s MVRV Ratio has dropped to 2.51, signaling undervaluation concerns. When the MVRV…

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Filed under: News - @ January 9, 2025 8:19 pm