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Massive Quantity of Virtual Whale Tokens Controls 93% of the Market: Potential for Significant Market Disruption?

Whales dominate over 93% of VIRTUAL's token supply, yet purchase activity persists among spot traders. Is this investment strategic or reckless?

Large-scale whale investors have amassed approximately 93% of the available VIRTUAL tokens,...
Large-scale whale investors have amassed approximately 93% of the available VIRTUAL tokens, continuing to trade in the market while smaller investors persistently buy. The question remains: Smart investment or perilous gamble?

Massive Quantity of Virtual Whale Tokens Controls 93% of the Market: Potential for Significant Market Disruption?

Headline: VIRTUAL's 13.95% Plunge: Whales in Control, But Spot Traders Still Buying

Shot and a Chaser- VIRTUAL plummeted by a staggering 13.95% in a single day, fueling market losses.- Whales now control an astounding 93% of the VIRTUAL supply, posing a serious threat.

Called the ShotsIn the past 24 hours, VIRTUAL took a hit, losing a significant 13.95%. Market analysts predict that this downward trend might continue, but a brief rally is still possible.

At the moment, VIRTUAL is staring at a much grimmer future as large holders have increased their dominance over the supply. The top 100 addresses hold an alarming 93% of VIRTUAL. This high concentration raises concerns about instability, as selling by these whales could trigger a chain reaction of liquidations, potentially pushing prices even lower.

Whales in ChargeNansen, a reliable source, reported this troubling trend. Moreover, smart money wallets, known for their strategic and profitable asset movements, have managed to rake in gains of 14.35% over the last 24 hours. If these wallets decide to sell, it could add more downward pressure to the already struggling VIRTUAL.

Spot Traders Not Backing DownInterestingly, despite the market turmoil and the possibility of a liquidation cascade, spot traders have shown unwavering support. In the last 24 hours, they have bought an impressive $1.42 million worth of VIRTUAL, a part of a broader accumulation trend. Over the past week, traders have amassed a total of $10.80 million worth of VIRTUAL.

The Path AheadThe 4-hour chart offers little respite, suggesting that VIRTUAL could be in for a deeper price drop. The altcoin has already broken below two crucial support levels, at $1.62 and then $1.46, as selling pressure intensifies. If this pressure persists, VIRTUAL could tumble to $1.27, with the next potential support level at $1.064.

However, there's a glimmer of hope. The Relative Strength Index (RSI), which measures momentum speed and change, indicates a potential reversal. If the RSI drops below the oversold level of 30, VIRTUAL could experience a technical rebound, paving the way for a short-term rally.

VIRTUAL is facing a severe downside risk due to the majority of the supply being in the hands of a few whales and increasing selling pressure. At the same time, it still holds the potential for a rebound if technical indicators shift and spot buyers keep buying.

Slugs and Mulligans- Cautiously Optimistic: VIRTUAL's price might see moderate gains in the short-term, but the market concentration in whale wallets and recent declines indicate risks of volatility and price suppression. Longer-term forecasts vary widely.- Predictions Galore: Short-term predictions predict around a 30.5% price rise within days, with an estimated price of approximately $2.67 by mid-May 2025. Longer-term estimates, however, vary widely, with some predicting multi-fold increases by 2030 and beyond.

large holders own an astounding 93% of the VIRTUAL supply, raising concerns about potential crypto market manipulation or price pressuredespite the dominance of whales, spot traders have been active accumulators of VIRTUAL, purchasing $1.42 million worth in the past 24 hoursmarket sentiment towards VIRTUAL remains uncertain, with some analysts predicting a short-term rally in the crypto market, while others forecast a deeper price drop*investors considering Ethereum (ETH) might find it essential to keep an eye on VIRTUAL market dynamics and sentiments, given their interwoven roles in the digital finance ecosystem.

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