{"id":36959,"date":"2024-08-30T14:32:46","date_gmt":"2024-08-30T14:32:46","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/floki-plummets-as-dormant-whale-moves-15b-tokens-to-binance\/"},"modified":"2024-08-30T14:32:46","modified_gmt":"2024-08-30T14:32:46","slug":"floki-plummets-as-dormant-whale-moves-15b-tokens-to-binance","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/floki-plummets-as-dormant-whale-moves-15b-tokens-to-binance\/","title":{"rendered":"Floki plummets as dormant whale moves 15B tokens to Binance"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/05\/1683291887884-495cb3a8-ab39-40ff-84b9-90ec098502f7-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/05\/1683291887884-495cb3a8-ab39-40ff-84b9-90ec098502f7-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/05\/1683291887884-495cb3a8-ab39-40ff-84b9-90ec098502f7-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/05\/1683291887884-495cb3a8-ab39-40ff-84b9-90ec098502f7-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li>FLOKI plummeted 17% as a dormant whale moved 15.22B tokens to Binance.<\/li>\n<li>The whale\u2019s reactivation after 2.5 years triggered panic and heavy sell-offs.<\/li>\n<li>FLOKI\u2019s weak technicals suggest further declines amid broader crypto market struggles.<\/li>\n<\/ul>\n<p>FLOKI, one of the largest meme coins, saw its value plummet by over 17%, reaching a low of $0.00012658, the weakest point since August 21.<\/p>\n<p>This drop marks a 64% decline from its highest point this year, underscoring the volatile nature of the meme coin market.<\/p>\n<p><img loading=\"lazy\" fetchpriority=\"high\" decoding=\"async\" class=\"alignnone size-full wp-image-225042\" src=\"https:\/\/coinjournal.net\/wp-content\/uploads\/2024\/08\/Floki-price-chart.png\" alt=\"\" width=\"1674\" height=\"619\"\/><\/p>\n<p>Floki\u2019s price decline coincides with a broader bear trend in the cryptocurrency market, as <a href=\"https:\/\/coinjournal.net\/bitcoin\/what-is-bitcoin\/\">Bitcoin<\/a> struggles to remain above the $60,000 mark. At press time, BTC price was $59,588.11, down 2.47 over the past week correlating with a drop in the global crypto market capitalization which has dropped from over $2.3 trillion earlier in the week to $2.09 trillion at press time.<\/p>\n<h2>Dormant Floki whale reactivated after 2.5 years<\/h2>\n<p>The primary catalyst for this sharp decline was the sudden activity of a dormant whale account linked to the team behind Floki. After 2.5 years of inactivity, this account moved 15.22 billion FLOKI tokens, valued at $2.27 million, to Binance.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">The <a href=\"https:\/\/twitter.com\/search?q=%24FLOKI&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$FLOKI<\/a> price is \ud83d\udd3b 17.7% in the past 24 hours.<\/p>\n<p>A wallet linked to <a href=\"https:\/\/twitter.com\/RealFlokiInu?ref_src=twsrc%5Etfw\">@RealFlokiInu<\/a> returned after 2.5 years of dormancy and deposited 15.22B <a href=\"https:\/\/twitter.com\/search?q=%24FLOKI&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$FLOKI<\/a> ($2.27M) to <a href=\"https:\/\/twitter.com\/hashtag\/Binance?src=hash&amp;ref_src=twsrc%5Etfw\">#Binance<\/a> 9 hours ago, just before the price plunged.<\/p>\n<p>These <a href=\"https:\/\/twitter.com\/search?q=%24FLOKI&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$FLOKI<\/a> were released from the Floki deployer to this\u2026 <a href=\"https:\/\/t.co\/9eDNqy3Mhr\">pic.twitter.com\/9eDNqy3Mhr<\/a><\/p>\n<p>\u2014 Spot On Chain (@spotonchain) <a href=\"https:\/\/twitter.com\/spotonchain\/status\/1829359195172515923?ref_src=twsrc%5Etfw\">August 30, 2024<\/a><\/p>\n<\/blockquote>\n<p>This dormant account had originally received the tokens from the Floki deployer in early 2022 when the token was priced at only $0.0000307.<\/p>\n<p>The transfer, which occurred just nine hours before the price plunge, created panic among investors, leading to heavy selling activity and significant outflows from both centralized and decentralized exchanges.<\/p>\n<p><a href=\"https:\/\/platform.spotonchain.ai\/en\/token?name=FLOKI\">Data from Spotonchain<\/a> revealed that net outflows of FLOKI from centralized exchanges fell to their lowest point since August 21, while outflows from decentralized exchanges hit their highest level in over a week.<\/p>\n<p>Despite its recent struggles, Floki remains a significant player in the meme coin space, with a market cap of over $1.27 billion. The developers have been working to transition Floki from a mere meme coin to an active ecosystem, launching initiatives such as TokenFi, Floki Locker, and the Valhalla NFT metaverse.<\/p>\n<p>However, with weak technical indicators, including a death cross pattern and a negative Percentage Price Oscillator, further declines for the meme coin seem possible in the near term.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/floki-plummets-as-dormant-whale-moves-15b-tokens-to-binance\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison ) FLOKI plummeted 17% as a dormant whale moved 15.22B tokens to Binance. The whale\u2019s reactivation after 2.5 years triggered panic and heavy sell-offs. FLOKI\u2019s weak technicals suggest further declines amid broader crypto market struggles. FLOKI, one of the largest meme coins, [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":36960,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/36959"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=36959"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/36959\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/36960"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=36959"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=36959"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=36959"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}