$FLOCK took a hit from $0.09 to $0.07—down 20.39% in 24 hours—yet trading volume is still $34M. This doesn’t look like pure panic selling; it looks more like someone is distributing in a controlled rhythm. I’ve been watching a few on-chain signals, and found two that others didn’t seem to pay much attention to.
First, I noticed that two hours before the crash, FLOCK saw three brand-new addresses—addresses that previously only made small transfers—almost at the same time withdraw about 1.8 million tokens from an exchange, then in batches deposited them into two liquidity pools. This “withdraw—add liquidity—remove liquidity” route is too clean; it doesn’t look like something retail traders would do.
More importantly, the Gas sources for all three addresses point to the same relay address. Over the past 30 days, that relay address has only been active four times—and each time it appeared right before FLOCK’s abnormal movement.
Second, the exchange deposit side showed an abnormal “reverse signal.” Usually, when prices are hit, tokens are deposited into exchanges. But during this drop in FLOCK, a major exchange’s net deposits are actually negative—meaning withdrawals exceed deposits. In other words, someone took coins out while the price was falling.
There are only two explanations: either the retail buyers who are “catching the dip” are withdrawing, or a large holder is coordinating the sell-off while simultaneously accumulating at lower levels.
Given the $34M trading volume and the -20% move, I lean toward the latter—someone is manufacturing fear, then quietly picking up near $0.07.
My view is that FLOCK may still see one more dip in the short term, but in the $0.065 to $0.068 range, there’s a high chance of a quick rebound, because clear accumulation traces have already appeared on-chain.
If, over the next 48 hours, exchange net outflows continue to expand while the price doesn’t make new lows, that would confirm the signal. On the other hand, if that relay address moves again, it suggests the second wave of dumping is coming. Let’s wait and verify. See you in the comments��
First, I noticed that two hours before the crash, FLOCK saw three brand-new addresses—addresses that previously only made small transfers—almost at the same time withdraw about 1.8 million tokens from an exchange, then in batches deposited them into two liquidity pools. This “withdraw—add liquidity—remove liquidity” route is too clean; it doesn’t look like something retail traders would do.
More importantly, the Gas sources for all three addresses point to the same relay address. Over the past 30 days, that relay address has only been active four times—and each time it appeared right before FLOCK’s abnormal movement.
Second, the exchange deposit side showed an abnormal “reverse signal.” Usually, when prices are hit, tokens are deposited into exchanges. But during this drop in FLOCK, a major exchange’s net deposits are actually negative—meaning withdrawals exceed deposits. In other words, someone took coins out while the price was falling.
There are only two explanations: either the retail buyers who are “catching the dip” are withdrawing, or a large holder is coordinating the sell-off while simultaneously accumulating at lower levels.
Given the $34M trading volume and the -20% move, I lean toward the latter—someone is manufacturing fear, then quietly picking up near $0.07.
My view is that FLOCK may still see one more dip in the short term, but in the $0.065 to $0.068 range, there’s a high chance of a quick rebound, because clear accumulation traces have already appeared on-chain.
If, over the next 48 hours, exchange net outflows continue to expand while the price doesn’t make new lows, that would confirm the signal. On the other hand, if that relay address moves again, it suggests the second wave of dumping is coming. Let’s wait and verify. See you in the comments��
