Despite a recent decline in the price of Floki, whales have been actively accumulating the memecoin, signaling a potential rebound in the near term. AMBCrypto's analysis reveals a surge in capital inflow from large holders, increasing large transactions, and an overall positive sentiment. While the price has yet to reflect this accumulation, Floki's MVRV ratio suggests undervaluation and a possible trend reversal.
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.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.This trend is evidenced by the fact that the capital inflow from whales has skyrocketed.
Historically, Floki has reversed to the upside when the MVRV drops below 2.5 and peaks when it hits 4.2. This suggests that the memecoin could see a trend reversal to an uptrend.Even though whales were actively buying the memecoin, its price has continued to decline. At the time of writing, Floki was trading at $0.0001646, marking a 4.29% drop on daily charts and extending a month-long bearish trend.
Although whale accumulation is yet to reflect on Floki’s price charts, it positions the memecoin for a potential recovery. If whales hold and continue buying, Floki could recover and reclaim $0.00018. However, if the current trend persists, the memecoin could dip to $0.00015.Gladys is a passionate crypto-enthusiast and price analyst. With 3 years of experience in the blockchain space, she's well aware of the prevailing market trends. Gladys is uniquely committed to providing insightful and real-time content to the larger crypto-community.Subscribe to get it daily in your inbox.
CRYPTOCURRENCY WHALE ACCUMULATION MEMECOINS FLOKI MARKET TRENDS
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