FLEX soars 360% in 24 hours, sell signal has emerged
![FLEX soars 360% in 24 hours, sell signal has emerged](https://crypto.news/app/uploads/2023/08/AI-driven-innovation-will-fuel-more-stable-crypto-markets-_-Opinion05.png)
The FLEX token has registered significant gains in the past 24 hours while data suggests the asset might be manipulated by large whales.
FLEX is up by 360% in the past 24 hours and is trading at $2.26 at the time of writing. Following the recent rally, the asset’s market cap rose to $222 million. However, FLEX’s daily trading volume witnessed a 7% decline and is currently standing at around $81,000.
![FLEX soars 360% in 24 hours, sell signal has emerged - 1](https://crypto.news/app/uploads/2023/11/FLEX-FLEX-13.46.40-27-Nov-2023-1024x347.png)
Data shows that FLEX has been constantly moving between $2.25 and $0.45, with sudden movements, since it dropped from its all-time high (ATH) over the past four months of $8.16 set on Aug. 10.Â
According to data provided by the market intelligence platform Santiment, FLEX didn’t witness any withdrawals over the past two days. This could indicate the anticipation of a token swap on exchanges.
Santiment data also shows that FLEX’s social volume recorded a 75% decline over the past 24 hours.
Moreover, the asset’s price-daily active addresses (DAA) divergence shows a strong sell signal, currently standing at negative 160%, per Santiment. The price DAA divergence indicates that FLEX’s price movements could have been manipulated by big whales.
![FLEX soars 360% in 24 hours, sell signal has emerged - 2](https://crypto.news/app/uploads/2023/11/FLEX-FLEX-13.48.35-27-Nov-2023-1024x347.png)
According to Santiment, the number of active FLEX addresses has been consistently declining since Nov. 19 — taking a deep dive from 205 active wallets to four addresses.
When the price increases with the accumulation of big whales, sudden market movements are usually expected.