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Reading: Investor Stakes 14 Billion Floki Inu Tokens
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COINTURK NEWS > Meme Token > Investor Stakes 14 Billion Floki Inu Tokens
Meme Token

Investor Stakes 14 Billion Floki Inu Tokens

In Brief

  • An investor staked 14 billion FLOKI tokens worth $2.36 million.

  • FLOKI price increased by 3.52% in the last 24 hours.

  • Whales hold 64.86% of the total FLOKI supply.

COINTURK NEWS
COINTURK NEWS 12 months ago
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A wallet with the extension 0x403 recently staked 14 billion Floki Inu (FLOKI) tokens worth $2.36 million in the Floki ecosystem. This move by the wallet owner follows a period of accumulation that began about two years ago when the price was at $0.00001207. The current profit for this individual is calculated to be $2.19 million, reflecting a significant gain of 1,293%.

Contents
FLOKI Price and Volume IncreaseCurrent Floki Coin PriceWhales and Floki Inu

FLOKI Price and Volume Increase

The staking of such a large amount of FLOKI tokens by the mentioned investor could have a noticeable impact on the price. The reduction in circulating supply due to the staked tokens could create scarcity and potentially drive the price up.

Such a significant staking action could also positively influence other investors and contribute to a price increase.

Current Floki Coin Price

Following the recent news, FLOKI has seen a 3.52% increase in the last 24 hours, reaching $0.0001811. FLOKI’s market cap has similarly increased, now standing at $1.73 billion.

Additionally, FLOKI’s trading volume has risen by 12%, reaching $307.15 million. The lowest and highest prices of FLOKI in the past 24 hours were $0.0001661 and $0.0001906, respectively.

Whales and Floki Inu

Another piece of data reveals that whales hold 64.86% of the total FLOKI supply. Considering that whales tend to buy and hold cryptocurrencies for long-term investments, their large holdings could provide significant price stability for FLOKI.

Moreover, this behavior by whales could encourage smaller investors, creating a bullish sentiment and contributing to a potential price increase due to the growing scarcity.

Considering all these factors, despite the declining market conditions, FLOKI currently shows a strong outlook, with whales seemingly controlling the market and attempting to push the price upwards.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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COINTURK NEWS 20 June, 2024 - 10:11 pm 20 June, 2024 - 10:11 pm
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