• Trading bot that will burn FLOKI tokens announcement fails to impact its price.
  • FLOKI's In-the-Money Addresses reveal a sharper correction may occur if the market continues its downward movement.
  • FLOKI's Token Age Consumed shows long-term holders may have been taking profits.

FLOKI is down nearly 6% on Wednesday, as key on-chain metrics and speculations suggest that investors may enter a profit-taking spree if its price encounters a steep decline.

FLOKI holders are likely to take profit if price declines further

The FLOKI team recently launched a Telegram trading bot that will buy and burn FLOKI tokens with 50% of its generated fees. The aim is to make FLOKI deflationary over time. While the move should have signaled a bullish sentiment, FLOKI is down by almost 6% in the past 24 hours as its on-chain metrics reveal a potential further plunge.

FLOKI's In/Out of the Money data reveals investors may have been shedding their holdings gradually.

In/Out the Money measures the average purchase cost of an asset against its current price. An address/coin is in the money if the current price exceeds its average purchase cost and out of the money if vice versa.

According to data from IntoTheBlock, after FLOKI reached an all-time high of $0.0003449 on June 5, 99% of its holders were in the money. This is similar to its rally on March 1, when 99.3% of holders were also in the money. Although the percentage was the same, the number of in-the-money wallets at the March high was 74K, while that of June increased to 78K.

Additionally, only 76.8% of FLOKI holders are currently in profit. Combining the above data points indicates that FLOKI holders may have gradually been taking profits. Also, with the rise in addresses following its last rally, a sharper correction may ensue if the market downturn persists.

FLOKI Global In/Out of the Money

FLOKI Global In/Out of the Money

FLOKI's Token Age Consumed (TAC) metric in the last two weeks also aligns with this view.

Token Age Consumed tracks the movement of previously dormant coins. A spike in the TAC chart indicates that long-term holders are moving their tokens.

According to data from Santiment, between June 5 and 19, FLOKI's TAC hovered around 20 trillion while its price declined by almost 50%, indicating that long-term holders may have been taking profits.

With several crypto community members speculating that the meme coin cycle has ended, FLOKI could see more profit-taking if its price declines further.

Meanwhile, a recently launched Solana meme coin, DORAE, crashed 99% after an insider — potentially the coin's developer — dumped 2.5M of its supply for $1.45 million worth of Solana, according to Lookonchain.


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended Content

Editors’ Picks

XRP Price Prediction: Bearish technicals, on-chain indicators signal 68% potential crash

XRP Price Prediction: Bearish technicals, on-chain indicators signal 68% potential crash

XRP faces increasing bearish sentiment from macro, micro and fundamental factors in April. Weak on-chain indicators ranging from network growth, total supply and active addresses reinforce an impending crash.

More Ripple News
Bitcoin Price Forecast: Tariff volatility sweeps over $200 billion from crypto markets

Bitcoin Price Forecast: Tariff volatility sweeps over $200 billion from crypto markets

Bitcoin price hovers around $83,000 on Thursday after it failed to close above the $85,000 resistance level the previous day. Volatility fueled by Trump’s tariffs swept $200 billion from total market capitalization, liquidating over $178 million in BTC.

More Bitcoin News
SOL is the winner as Solana chain turns into battleground for meme coin launchpad and DEX

SOL is the winner as Solana chain turns into battleground for meme coin launchpad and DEX

Solana (SOL) gains nearly 2% in the last 24 hours and trades at 118.28 at the time of writing on Thursday. A Decentralized Exchange (DEX) and a meme coin launchpad built on the Solana blockchain have waged a war for users and compete for the trade volume on the chain. 

More Solana News
Shibarium, built for the Shiba Inu blockchain, reaches 1 billion in transactions in 18 months after its launch

Shibarium, built for the Shiba Inu blockchain, reaches 1 billion in transactions in 18 months after its launch

Shibarium, a Layer-2 blockchain for the Shiba Inu ecosystem, reaches 1 billion transactions 18 months after its launch. This milestone reflects growing adoption and Shibarium’s robust performance.

More Shiba Inu News
Bitcoin: BTC remains calm before a storm

Bitcoin: BTC remains calm before a storm

Bitcoin's price has been consolidating between $85,000 and $88,000 this week. A K33 report explains how the markets are relatively calm and shaping up for volatility as traders absorb the tariff announcements. PlanB’s S2F model shows that Bitcoin looks extremely undervalued compared to Gold and the housing market.

Read full analysis
The Best brokers to trade EUR/USD

The Best brokers to trade EUR/USD

SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.

Read More

BTC

ETH

XRP