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The FLEX token has registered significant gains in the past 24 hours while data suggests the asset might be manipulated by large whales.&nbsp; 
<a href="https://crypto.news/flex-plunges-10-as-hodlnaut-opposes-opnxs-30m-offer/">FLEX</a> 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. 
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 <img loading="lazy" decoding="async" width="1024" height="347" src="https://crypto.news/app/uploads/2023/11/FLEX-FLEX-13.46.40-27-Nov-2023-1024x347.png" alt="FLEX soars 360% in 24 hours, sell signal has emerged - 23" class="wp-image-14220574">
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 FLEX price, social volume, active withdrawals and active addresses – Nov. 27 | Source: <a href="https://app.santiment.net/charts/xtMhngTN__sCl" target="_blank" rel="noopener">Santiment</a>
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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.&nbsp; 
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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. 
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 <img loading="lazy" decoding="async" width="1024" height="347" src="https://crypto.news/app/uploads/2023/11/FLEX-FLEX-13.48.35-27-Nov-2023-1024x347.png" alt="FLEX soars 360% in 24 hours, sell signal has emerged - 24" class="wp-image-14220575">
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 FLEX price DAA divergence – Nov. 27 | Source: Santiment
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According to Santiment, the number of active <a href="https://crypto.news/coinflex-crypto-exchange-and-the-flex-token/">FLEX</a> addresses has been consistently declining since Nov. 19 — taking a deep dive from 205 active wallets to four addresses.&nbsp; 
When the price increases with the accumulation of big whales, sudden market movements are usually expected. 
 Read more: <a href="https://crypto.news/binance-listing-triggers-75-price-surge-for-blur-token/"> Binance listing triggers 75% price surge for Blur token </a>

FLEX soars 360% in 24 hours, sell signal has emerged

crypto.news

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