- Floki Price Decline: Floki has dropped 9.12% in the last 24 hours and 29.35% over the past few months, hitting a yearly low of $0.000057, creating a potential buying opportunity.
- Whale Activity Surge: Whale transactions have surged by 900%, with a massive 277% increase in capital inflow, suggesting that whales are actively accumulating Floki, reflecting strong bullish sentiment.
- Potential for Recovery: With increasing demand and more buy orders being executed than sell orders, Floki could rise back to $0.000073, but if selling pressure returns, it may drop back to $0.000057.
Over the past 24 hours, Floki (FLOKI) has been under significant downward pressure, hitting a yearly low of $0.000057. At the time of writing, it’s trading at $0.000060, reflecting a 9.12% decline in just one day. To add to the woes, the memecoin has seen a 29.35% drop over the past few months.
But, here’s the thing: This price decline could actually be setting up a buying opportunity, particularly for the whales, who seem to be rushing in to scoop up the dip.
Whale Activity Sees a Surge
According to IntoTheBlock data, whale activity has bounced back dramatically after this recent dip. Whale transactions, which had almost fallen to zero, have skyrocketed by 900% in the past day. This indicates that big investors and entities are showing renewed interest in Floki.
When whale activity spikes, it could mean one of two things: they’re either selling off or buying more. To figure out which way the capital is flowing, we look at the inflow and netflow of large holders.
Looking at the inflow of large holders, it’s clear that Floki is seeing a massive surge in capital. The inflow has jumped by a staggering 277%, rising from 7.15 billion to 27.03 billion. This kind of surge strongly suggests that whales are actively accumulating the memecoin, which signals confidence.
And the netflow? It’s up 1359%, reaching 9 billion. That means there’s way more capital coming in than going out, which indicates that whales are buying more than they’re selling. It’s a clear sign of bullish sentiment from the big players.
Rising Demand and Market Sentiment
The growing buying pressure is evident in the positive delta and increasing positive order imbalance. What this means is simple: more buy orders are being executed than sell orders, a signal that the market is leaning bullish.
This surge in buy orders indicates that market participants are collectively picking up the memecoin, which could be a sign of a shift in sentiment towards the positive.
What’s Next for Floki?
With whales jumping in to buy the dip, Floki looks poised for a potential recovery. The increased demand across the markets is painting a somewhat bullish picture for the memecoin. If this momentum continues, it could push Floki back to the $0.000073 mark.
But, of course, there’s always the risk that sellers might re-enter the market, which could push the price back down to $0.000057. It’s a waiting game, but for now, the whales are driving the ship.
