Memecoin Wallet Wakes Up After 2.5 Years, Deposits to Binance Just in Time

Floki Inu (FLOKI) has lost 18.5 percent in the last 24 hours, dropping its price to $0.0001277. This drop reversed some of the token’s recent rise.

FLOKI’s value briefly increased after Binance announced the Simon’s Cat (CAT) token airdrop to FLOKI holders.

However, according to blockchain analysis firm SpotOnChain, this has unexpectedly reversed.

2.5-year-old FLOKI tokens are moving

The company has determined that a wallet associated with Floki Inu has become active again after 2.5 years of inactivity. This wallet transferred 15.22 billion FLOKI (approximately $2.27 million) to Binance just hours before the memecoin price started to fall.

This major token transaction caused concern and speculation within the community and coincided with a significant drop in the value of FLOKI.

It is worth noting that these tokens were first moved from the Floki deployer to this wallet in early 2022, when the price of FLOKI was just $0.0000307.

While FLOKI is experiencing volatility, other memecoins like Dogwifhat (WIF) are gaining traction. According to a recent post by CNF, a whale investor purchased a large amount of WIF tokens. The whale borrowed 1.4 million USDC from Kamino and used the 1 million USDC to purchase 643,832 WIF tokens.

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