is $VELVET preparing for sell pressure after this spike? 📉
VELVET dropped hard to 0.52 and then spiked straight up past 0.91.
the move looks strong on the 5m chart, but onchain data is showing a major warning sign.
Over the last 20 minutes, 1.4 million VELVET tokens were moved from Bitget cold storage straight into hot wallets.
that is over $1 million worth of VELVET sitting ready on the exchange.
when massive supply moves out of cold wallets right after a pump, sell pressure usually follows fast.
And just like that, $VELVET collapsed in less than an hour 📉
Just 1 hour ago I warned you about those 1.4M tokens ($1M+) moving straight into hot wallets right at the top.
Price was pumping near 0.89 and now it just nuked all the way down to 0.56.
onchain data always shows the move before the chart does.
this is why we track whale wallets instead of chasing green candles.
Did you avoid this dump or catch the drop down with us? 💭
VELVET dropped hard to 0.52 and then spiked straight up past 0.91.
the move looks strong on the 5m chart, but onchain data is showing a major warning sign.
Over the last 20 minutes, 1.4 million VELVET tokens were moved from Bitget cold storage straight into hot wallets.
that is over $1 million worth of VELVET sitting ready on the exchange.
when massive supply moves out of cold wallets right after a pump, sell pressure usually follows fast.
And just like that, $VELVET collapsed in less than an hour 📉
Just 1 hour ago I warned you about those 1.4M tokens ($1M+) moving straight into hot wallets right at the top.
Price was pumping near 0.89 and now it just nuked all the way down to 0.56.
onchain data always shows the move before the chart does.
this is why we track whale wallets instead of chasing green candles.
Did you avoid this dump or catch the drop down with us? 💭
