A Dormant Wallet Sends $Floki Worth $2.27 Million to Binance

A dormant wallet associated with the Floki project was reactivated after 2.5 years of inactivity after 15.22 billion $FLOKI tokens worth US $2.27 million was deposited into the crypto exchange, Binance 10 hours ago, as reported by spotonchain.

These FLOKI were first transferred to the wallet by FLOKI deployers in early 2022, when the token price was only $0.0000307.

In this week, FLOKI price broke above the descending trendline and rallied 10%. On Thursday, FLOKI continued its rally and traded at $0.0001582 before dropping by 14.66% to $0.0001288, at the time of writing . However, even with a slight dump, a sustained trend could be expected considering the surge of active, dormant wallets dealing with FLOKI.

Additionally, the fact that FLOKI price recently broke to the north of a downtrend in play since July, implies a possible surge for FLOKI. FLOKI’s community game is already strong and shows positive market sentiment with 76% and negative market sentiment of 24%.

Moreover, the wallet holder’s decision to transfer such a whopping amount of FLOKI tokens comes after Binance announcing that it support the airdrop for Simon’s Cat (CAT) for a better airdrop distribution , which in turn, has led to buying pressure. And, not to forget, with its growing expansion in Vietnam  and scoring a Premier League Partnership with Nottingham Forest, FLOKI certainly is set for a promising movement.

Also Read: Floki Nears $0.0001441 Key Resistance; Breakout Ahead?