570 billion FLOKI in danger of liquidation – Discover the crucial strategy to safeguard it!
Over the last couple of months, FLOKI has been witnessing gradual downturns, currently hovering just 12% above its initial price on election day. With a staggering 80% of its profits vanishing, only 6.98K wallets are still in profit since the onset of the “Trump pump.”
Evidently, investors are steering clear of long-term holding. Nevertheless, with the market trending positively again, could now be the time to reassess the stance on holding?
The necessity for a motivator
FLOKI has hit a fresh milestone with its address count peaking at 88.08k, registering a modest 8% surge from 80.9k two months back. Despite this, the meme coin skyrocketed by an impressive 124% from its inauguration price of $0.000125, courtesy of the Trump pump.
During this period, billions of FLOKI tokens were rapidly transacted, indicating significant activity by large investors. Presently, just 10 major players hold a substantial 72% of FLOKI’s supply. The recent quietness observed from these major stakeholders explains the sudden nosedive FLOKI has experienced.
Operating as a meme coin, FLOKI thrives on generating “hype” and is actively engaged in doing so. From its listing on Arkham exchange to offering a debit card and establishing strategic partnerships with real-world applications, FLOKI is clearly striving for prominence. However, the impact on investor sentiment has been less pronounced than expected.
Despite the vigorous marketing efforts, FLOKI’s trading volume encountered a considerable decline of 31.99%, settling at $138.02 million in the past 24 hours. Even with a deeply oversold RSI, there has been minimal buying interest in the dips, causing FLOKI to remain significantly below its launch price of $0.000280.
If this trend persists, the 6.98K wallets holding 565.89 billion FLOKI tokens – secured at a maximum value of $0.000153 per token – might soon face a loss. With little motivation to retain their holdings, selling off might emerge as the more appealing alternative.
What lies ahead for FLOKI?
The solution rests within its network – It is imperative for major holders to re-enter the market. Despite the broader market recovery, meme coins have not encountered the same upward trajectory. In fact, several top meme coins are either consolidating or trading well below their previous benchmarks, with FLOKI falling in the latter category.
Nonetheless, there is a silver lining – The ongoing consolidation of Dogecoin could bode well for other meme coins. As the leading meme coin globally, DOGE still possesses the ability to draw investors back into the market.
Having said that, this serves as merely a provisional solution. For a genuine resurgence, those top 10 addresses need to capitalize on the market dip – a factor warranting close monitoring in the days to come.
If they take action, it could potentially initiate a substantial “hype” episode. Conversely, failing to act could make holding onto the meme coin arduous, with roughly 570 billion FLOKI at risk of substantial liquidation.