FLOKI Reached New All-time High After Surging by 17%

A large wallet investor has invested $863,000 in CRYPTOCAP:FLOKI and MAGA tokens since April 8, resulting in an unrealized gain of over $3.5 million in just two months. The two tokens have been consistently rallying in the ongoing meme coin supercycle, with CRYPTOCAP:FLOKI adding nearly 17% to its value and MAGA TRUMP sustaining over 36% gains in the last seven days.

Lookonchain tracked a wallet theunipcs.eth, where the investor spent 276.4 Ether (863K) to buy 4.56 billion CRYPTOCAP:FLOKI (currently worth $1.1 million) and 18.45 Ether (57K) to buy 6.27 billion MAGA (currently worth $3.48 million). Since the investor's purchase, they are currently sitting on unrealized gains of $3.4 million on MAGA and $245,000 on FLOKI holdings.

CRYPTOCAP:FLOKI added nearly 17% to its value on Monday and sustained over 36% gains in the last seven days, as seen on Binance. Santiment, a crypto on-chain metrics tracker, shows a spike in active addresses and social dominance in CRYPTOCAP:FLOKI, with the active address count increasing by 10% and social dominance at 0.50%.

In the case of MAGA, the active addresses increased nearly 300% from 626 on Saturday to 2,498 on Monday, supporting a bullish narrative for the meme coin. At the time of writing, MAGA price is $0.000614, up nearly 24% on the day, sustaining over 770% gains on the week.

From a technical standpoint, Floki Inu (CRYPTOCAP:FLOKI) is trading in the overbought region with the asset having a Relative Strength Index (RSI) of 74.23. The Moving Average Convergence Divergence (MACD) depicts a rising wedge in the daily price chart which is a bullish pattern.