A mysterious and unidentified whale has jumped in on the Floki Inu bandwagon and purchased tokens worth $3.6 million. The anonymous whale came from the Binance Smart Chain (BSC) and picked up Floki in various different slots.
The whale first bought 218,000 Floki coins and regularly kept adding millions more in the span of 24 hours. The whale’s wallet at present owns 12 billion Floki in total.
Floki Inu Gets The ‘Whale Attention’
Meme-currencies are the rage in 2021, and both common people and whales don’t want to miss out on its phenomenal returns. Investors who missed the Dogecoin and Shiba Inu’s pump are getting into Floki in the hopes of making it big.
The coin sky-rocketed after Tesla CEO Elon Musk named his dog, a Shiba Inu breed, as Floki. Every tweet made by Musk about his dog Floki made Floki Inu reach new all-time highs.
Investors believe that as long as Musk has his back on Dogecoin and Floki, there’s potential for the coin to shoot up. In other words, Musk seems to have invisible strings and plays with its price indirectly through his tweets.
Floki To Shoot up 75%?
The coin has displayed bullish sentiments and is up +451.4% in the last 30-trading days. Floki is attracting buying pressure but is also adding selling pressure simultaneously. Investors are jumping in and out of the coin after booking profits, and the majority seem to not be in it for the long term.
Floki dipped today and is in tandem with the present conditions, as the market has slipped to red. Investors are making use of the opportunity and are buying the dip.
That said, the price looks irresistible at present, and when the market recovers, Floki is expected to propel further. It is estimated that in the next bull run, the coin can spike up to 75%.
However, if the market continues its dip in the coming days, many investors could dump their holdings. In return, its price could slip further below and could reach the mark of $0.00016 levels.
Another point to be noted is that Floki’s market cap is much lower than its other meme-currency competitors. Its market cap currently stands at $2 billion while Shiba Inu and Dogecoin are $39 billion and $34 billion respectively.
For Floki to beat its rivals, its market cap needs to grow further, but an event like this happening is not on the cards. Floki Inu, at the time of publishing, was trading at $0.0002945 and is down -12.27% in the day’s trade.