In recent trading sessions, the Floki (FLOKI) cryptocurrency has experienced a remarkable surge in value, marking a significant milestone in its trading history. The coin witnessed a notable increase of over 15% within the last 24 hours, breaking out from the $0.0002215 region to reach $0.0002791. This surge was accompanied by a noteworthy increase in trade volume, up by 44% to $1,897,080,395, indicating strong market participation.

After trading sideways for a brief period, Floki displayed a neutral trend before the bulls recorded a significant jump of over 20%, breaking above the $0.00022 level. Since then, the price has been trading positively, adding over 112%. The Cross EMA 50/200-day acts as a support to the price chart, suggesting a bullish sentiment in the industry.

The technical indicator MACD displays a constant green histogram, highlighting an increased buying-over-selling pressure in the crypto industry. Additionally, the averages show a rising pattern, suggesting a positive price action. If the market holds the price above the support level of $0.000232, the bulls will regain momentum and prepare to test its upper resistance level of $0.000400.

Whales Unstake Amidst Floki's Surge

However, amidst the bullish momentum, on-chain data reveals a noteworthy trend of profit-taking among whales. Several large investors have begun unstaking their Floki holdings and selling them for profits. In the past six hours alone, six wallets have unstaked a total of 30 billion $FLOKI tokens, amounting to $7.14 million, and have initiated selling activities.

One standout whale, smart whale 0xf63, deposited a staggering 200.9 billion $FLOKI tokens, valued at $50.3 million, into Gate.io. Should the whale proceed with selling now, the estimated profit would soar to $44.25 million, marking a substantial 731% increase in just 1.5 months.

It's important to note that this whale still retains substantial holdings of 1.24 trillion SHIB tokens, valued at $45.1 million, and 11.4 million BIGTIME tokens, worth $5.82 million. The total unrealized profits from these holdings amount to $34.5 million, underscoring the significant gains realized by the whale across multiple cryptocurrency investments.

trajectory in the short term. As the market evolves, maintaining a close eye on both technical indicators and on-chain data will be crucial for informed decision-making in Floki trading.