A major whale has stirred up the crypto market by depositing 500,000 $AUCTION tokens into Binance over just four hours! Valued at approximately $15.28M at the time of transfer, this colossal move could yield a realized profit of around $7.88M if the tokens were liquidated at the current market price. However, the incident has already taken its toll – $AUCTION’s price has slumped by 50% since the initial deposit.
Trading activity is off the charts! ♦ The $AUCTION/BTC pair surged by 300%, with 1,500 BTC traded in the first hour. Similarly, the $AUCTION/ETH pair saw a 250% spike, with 3,000 ETH exchanging hands. The dramatic sell-off has dented market confidence, with the token’s market cap dropping by $7.64M to $15.28M. On-chain metrics reveal that active addresses have jumped from 500 to 1,200 within an hour, signaling frenzied trading activity. Technical indicators are flashing red: ★ The RSI plummeted from 70 to 35, and the MACD has crossed below its signal line, confirming bearish momentum. Trading volume for $AUCTION/USDT spiked to 50M USDT, a 400% increase compared to the usual 10M USDT. With support levels now at $25 and $20, experts warn that further price declines are possible.
Meanwhile, despite a 5% uptick in AI-related tokens driven by recent breakthroughs, $AUCTION remains largely unaffected by AI news. Investors are advised to stay cautious amid this volatility. Engage now! → Like, Share, Comment, and Repost, and follow for more insights on this unfolding market drama! $AUCTION
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