Crypto Whale’s Massive Gains: $MAGA And $FLOKI Prices Skyrocket

The crypto whales are again in the news with theunipcs.eth gaining massive profits by investing in $MAGA and $FLOKI.

theunipcs.eth has invested 276.4 $ETH ($863K) on 4.56B $FLOKI (which has now risen to a value of $1.1M) and 18.45 $ETH ($57K) on 6.27B $MAGA (which has now risen to a value of $3.48M).

He started investments on April 8 2024 and in less than two months, he earned $3.4M (+6005%) on $MAGA and $245K (+28%) on $FLOKI. The prices of $FLOKI rose 55% in six weeks and $MAGA soared 175% in three weeks.

The current price of $FLOKI is $0.0002527 and the price of $MAGA is at an all-time high of $12.61.

Before going into further details, here are the tokenomics of $FLOKI and $MAGA, which show the price performance of tokens.

$FLOKI Tokenomics

The current tokenomics of $FLOKI is given below.

The current prices of $FLOKI are above the 50-day SMA and the 200-day SMA of $ 0.000183 and $ 0.000102, respectively, which shows its medium-term as well as long-term profitability.

$MAGA Tokenomics

The current price of $MAGA and other information about the market are given below.

$MAGA is currently trading way above the 50-day SMA and the 200-day SMA of $ 6.03 and $ 3.25, respectively, which is a testimonial to the huge price rise of the token.

How will this Phenomenal Price Rise Affect the Market?

theunipcs.eth has made this huge gain after investing after a thorough analysis of the market.

Both these coins were showing high performance in the bullish market and were prospective profitable investments.

While the crypto whale has made immensely high profits by investing in $FLOKI and $MAGA, the effect of this event on the market can vary according to various factors.

Now theunipcs.eth holds a significant number of $FLOKI and $MAGA, with 4.56B $FLOKI and 6.27B $MAGA tokens with them.

This means that theunipcs.eth currently holds a significantly high amount of the coins to influence the governance decisions of the respective platforms.

The whole crypto market can be influenced by these governance decisions.

Another major effect is the liquidity shortage of these coins in the market. This is because a large portion of the coins are held by theunipcs.eth and only a smaller number of coins are available for circulation in the market.

There can be probable inflation in the market if theunipcs.eth decides to suddenly sell a large amount of the coins they have with them.

This may increase the price volatility of the coins and may create instability in the market.

Are Crypto Whales the Ultimate Determiners of the Market Price of Various Crypto Coins?

Crypto whales are individuals or business entities holding a large amount of a particular crypto coin so that they alone can determine the currency’s market trends.

Cryptowhales do have a significant say in the price of a particular currency. The fact that whales hold a significant amount of a certain coin reduces the liquidity of the coin in the market if the coin is kept unmoved by the whale.

Crypto whales can also affect the price volatility of the coin if they try to sell a large amount of the coin in a single go.

This will create an influx of the coin in the market that other investors may not be able to handle.

Though crypto whales cannot have an ultimate say in the cryptocurrency price, they can put pressure on the market and create a certain amount of instability.

The Bottom Line

The phenomenal profit that the crypto whale has made by investing in $FLOKI and $MAGA is indeed a major development in the crypto market with far-fetched ramifications.

The market sentiments can change in any direction, so it is important that all investors keep a close watch over these developments.