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$$VELVET 34% Drop then rebound by 108%! The data doesn't add up
In 24 hours, it surged from 0.7655 to 1.9220 and back down to 1.6777, with a trading volume of a crazy 1.5 billion USD. Anomaly: During the rally, the 15-minute chart showed 3 instances of "no trading volume orders" gaps, which isn't something retail investors can create.
Three possible meanings: 1. The whales are manipulating the market with wash trading, with fake pressure around 1.9 and the real target above 2.5; 2. Quantitative institutions are self-trading to boost trading volume rankings and attract follow-up traders to dump; 3. Cross-exchange arbitrage bots triggered strategies in the 0.8-1.0 range, passively pushing prices higher, now approaching the program settlement point.
Operational advice: For those holding positions, set a stop-loss at 1.3, and exit immediately if it drops below; those wanting to enter can wait for a retracement to the 1.4-1.5 range for light long positions, with a stop-loss below 1.25. Do not chase above 1.7.
Signals like this don't come around often in a year. I am Gate data detective Xiao Mo, specializing in uncovering on-chain whales swimming naked. Like and follow, so you won't get lost next time.