Summary
TLDR: Meme coins faced a correction as whales booked profits, but Floki stood out with resilience. A crypto whale deposited PEPE tokens on Binance, making a profit. However, the broader meme coin market saw a downturn. Floki maintained its value, achieving a record TVL and burning tokens for deflation. Institutional support has also been crucial for Floki.
Key Points
1. Floki has emerged as an outlier among meme coins, demonstrating remarkable resilience and maintaining its value even in the face of a market downturn.
2. The crypto whale with the wallet address 0xe58 strategically deposited 196.19 billion Pepe (PEPE) tokens, realizing a profit of $1.40 million, while still holding 1 trillion PEPE meme coins.
3. Floki has achieved a new record in total value locked (TVL) at $756 million and has burned $3.2 million worth of tokens, aiming towards a deflationary model and utility-focused growth.