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FLOKI, has been showing quite an impressive performance in the crypto market lately. On Saturday, its price reached $0.000281, marking an increase of over 200% on a weekly basis and also securing a 13% gain on a daily basis. This is particularly significant for large investors as one wallet owner deposited 200.9 billion FLOKI tokens into an exchange, potentially earning around 45 million dollars.
FLOKI Meme Coin’s Upward Trend Continues
The upward trend of the meme coin FLOKI is supported by the burning of more than 190.9 billion tokens on Saturday, likely forecasting further gains in the meme coin sector. FLOKI, known particularly as a meme coin, has seen a significant increase in market value, capturing the attention of investors.
An important indicator for many investors is the increase in FLOKI’s trading volume. The 24-hour trading volume on Turkish exchanges Paribu and BTCTurk, as well as South Korea’s Bithumb, indicates a rising demand for FLOKI. It is also noted that FLOKI has a higher 24-hour trading volume than other popular cryptocurrencies. In total, FLOKI’s trading volume has exceeded 2.7 billion dollars in the last 24 hours.
A Major Wallet Holder’s $45 Million Profit
For FLOKI holders, the rise is not limited to just a price increase. There is also the potential for gains within the meme coin itself. In particular, a large investment made by a major wallet holder into the exchange Gate.io demonstrates FLOKI’s potential. This investment carries the potential for a profit of approximately 44.3 million dollars if the wallet owner sells their assets and realizes their gains.
According to on-chain metrics, FLOKI’s price is on an uptrend despite collective profit-taking by FLOKI holders. This situation can be understood from the graph above, which shows Santiment’s Network Realized Profit/Loss metric.
The future of meme coins will depend on the direction of the crypto market. If Bitcoin‘s price movement remains sideways, this will support the continuation of altcoins’ rise. However, if BTC trends downward, this will mean a price drop for altcoins. Let’s note that the optimistic atmosphere in the crypto market continues.
