The digital currency market recently witnessed a significant surge in the value of FLOKI, a meme-based cryptocurrency that has garnered considerable attention from investors.

This upswing in FLOKI’s value has translated into substantial profits for large investors, signaling a positive sentiment among market participants.

Yesterday, the price of $FLOKI experienced a remarkable increase of approximately 75%, reflecting the growing enthusiasm surrounding the cryptocurrency.

However, on-chain data has revealed a noteworthy trend of profit-taking among whales, as several large investors have begun unstaking their FLOKI holdings and selling them for profits.

In the past six hours alone, six wallets have unstaked a total of 30 billion $FLOKI tokens, amounting to $7.14 million, and have initiated selling activities.

Among these transactions, smart whale 0xf63 stands out, having deposited a staggering 200.9 billion $FLOKI tokens, valued at $50.3 million, into Gate.io.

If indeed selling, this move would result in a remarkable profit of $44.3 million, marking a substantial 731% increase in just 1.5 months.

Smart whale 0xf63 deposited all 200.9B $FLOKI ($50.3M) to #Gate.io ~1hr ago, realizing a $44.3M (+731%) profit after just 1.5 months if truly selling.

Currently, the whale still holds 1.24T $SHIB ($45.1M) and 11.4M #BIGTIME ($5.82M) with a total unrealized profits of $34.5M!… pic.twitter.com/54CCfv3QJK

— Spot On Chain (@spotonchain) March 9, 2024

Interestingly, the whale had initially withdrawn these FLOKI tokens from Gate.io and Binance at an estimated cost of $6.05 million on January 18, 2024.

Should the whale proceed with selling now, the estimated profit would soar to $44.25 million, further highlighting the lucrative nature of FLOKI investments in recent months.

Additionally, it is worth noting that the whale still retains substantial holdings of 1.24 trillion SHIB tokens, valued at $45.1 million, and 11.4 million BIGTIME tokens, worth $5.82 million.

The total unrealized profits from these holdings amount to $34.5 million, underscoring the significant gains realized by the whale across multiple cryptocurrency investments.

As whales engage in profit-taking activities, the FLOKI market continues to evolve, with investors closely monitoring developments to gauge future market dynamics and investment opportunities.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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Image Source: anaki2405/123RF // Image Effects by Colorcinch

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