POPCAT’s Recovery, FLOKI’s Decline, and Dogwifhat’s $65.6M Profit: What’s Next?

• WIF’s $1M buy boosts whale’s profit to $65.6M amid a 3.98% price drop.
• FLOKI’s 17.7% drop follows a major wallet reactivation before the decline.
• POPCAT’s price recovery shows EMA support, with resistance at $0.75 and $0.80.

Major price swings emerged in the crypto market recently, with Dogwifhat (WIF), FLOKI, and POPCAT (POPCAT) experiencing significant movements.

Lookonchain data reveals a noteworthy event involving the largest WIF holder, who recently borrowed $1.4 million USDC from Kamino. The individual used $1 million of this to acquire 643,832 $WIF at $1.55 per token. This strategic purchase now brings their total holding to 28.66 million $WIF, valued at approximately $44.13 million. Remarkably, their profit on $WIF stands around $65.6 million, highlighting a substantial gain in this volatile market.

The current price of $WIF is $1.53, which was down by 3.99% over the last one day. This decrease in the value happens hand in hand with a reduction in trading volume by 24.58% to $300,745,950.

The market capitalization of $WIF is estimated at $1.53 billion, underscoring its substantial market presence. Key support and resistance levels are critical for understanding future price movements. 

The immediate support level is at $1.53, which, if breached, could lead to further declines. Conversely, resistance levels are noted around $1.60 and $1.67. Breaking through these levels could signal a bullish reversal.

Spot On Chain data shows the price of FLOKI has plummeted 17.7% over the past 24 hours. A wallet linked to @RealFlokiInu, inactive for 2.5 years, reactivated and transferred 15.22 billion FLOKI ($2.27 million) to Binance just before the decline. These tokens were released from the Floki deployer when the price was only $0.0000307.

FLOKI is priced at $0.0001283, showing an 18.36% decrease over the same period. The market cap has dropped to $1.21 billion, and the trading volume has declined by 3.85%. The level of support for $FLOKI is expected at $0.00013, specific resistances are at $0.00015 and $0.00016. If the price moves above these levels, then there may be a sign of reversal in the price action.

Turning to POPCAT (SOL), the price currently sits at $0.615977, with a trading volume of $115,768,834. This marks a 12.48% decline over the past 24 hours. The price action suggests a potential recovery following a sharp decline.

Altcoin Sherpa’s  analysis on POPCAT highlights the 200-period Exponential Moving Average (EMA) acting as support, indicating a bullish signal. Immediate support is noted around $0.6453, with secondary support at $0.60. Resistance levels are observed at $0.75 and $0.80. A move above $0.75 could signal a continuation of the upward trend, potentially driving prices higher.