$VELVET 🚨 VELVET Price Alert - Up 2.02% - Cause:
- Rapid price surge: VELVET experienced strong gains, with reports of +71% in 24h, +200-460% from recent levels, surging 280%+ from lows and testing all-time highs around 1.8-1.9.
- Low-float and on-chain dynamics: Low circulating supply (around 19% of max) driving volatility, with concentrated buys and earlier smart money accumulation noted.
- Distribution and selling pressure: Heavy exchange inflows, top holders and profitable wallets exiting, more sellers than buyers, raising dump risks similar to prior cycles.
- Protocol change accusations: Claims that the team quietly updated the protocol to enable blacklisting of token-holding wallets, preventing sales, labeled as manipulation and fraud.
- Caution and watch signals: Traders advising to monitor for breakouts above ATH or potential retraces to key support zones; history of sharp pumps followed by heavy dumps noted.
#VELVET