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.
Trading bot that will burn
's Token Age Consumed shows long-term holders may have been taking profits. tokens with 50% of its generated fees. The aim is to make '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
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.
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