FLOKI, the popular memecoin, surged 12% to $0.000034, driven by significant accumulation from both whales and retail investors. The price jump from $0.00003 to $0.0000359 coincided with a broader recovery in the memecoin sector, which saw its total market value climb to $35.3 billion. On-chain data revealed robust buying pressure, with a net buy volume of 23 billion FLOKI tokens over four days.
Whale activity was particularly pronounced, with large holders purchasing 203.4 billion tokens. Data from Nansen indicated top holders increased their total supply to 9.7 trillion tokens, adding a net 23.76 billion FLOKI. This accumulation phase has strengthened bullish momentum, reflected in technical indicators like the Relative Strength Index (RSI) jumping from 31 to 47.
Concurrently, Binance witnessed a major shift in large investor behavior. On-chain analytics firm CryptoQuant reported that whale inflows to the exchange reached their highest level since 2024. This surge followed a prolonged period of stable flows, suggesting a potential sentiment shift among major market players.
"It is also noteworthy that this surge followed a period of relatively stable whale flows, reinforcing the hypothesis of a shift in major investor sentiment," noted CryptoQuant in its analysis. While increased exchange inflows can sometimes precede selling, analysts highlight they may also indicate portfolio repositioning ahead of anticipated market moves, potentially leading to higher short-term volatility.
The FLOKI rally faces near-term tests at the EMA50 resistance level near $0.000039. Analysts caution that profit-taking from recent buyers could push the price back toward $0.000030. The market is now closely watching whether the combined whale activity on specific assets like FLOKI and across major exchanges like Binance signals the start of a new, more volatile market phase.
