A dormant wallet associated with the Floki project was reactivated after 2.5 years of inactivity, and 15.22 billion $FLOKI tokens worth US $2.27 million was deposited into Binance 9 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 ongoing rally and traded at $0.0001582 before dropping by14.66% 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.
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 expansion in VietnamBinance announced 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 a growing , and scoring a Premier League Partnership with Nottingham Forest, FLOKI certainly is set for a promising movement.
Source: https://www.cryptonewsz.com/dormant-wallet-sends-floki-2-27m-to-binance/