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Can Altcoin Hit $6 Despite Whale Profit-Taking?
Virtuals Protocol (VIRTUAL) recently witnessed a staggering 10.57% hike within just one day, with its market cap reaching a whopping $3.22 billion. This sudden surge can be attributed to investor optimism and the project’s strong fundamentals.
Despite this impressive growth, many analysts are questioning whether VIRTUAL can continue its uptrend and potentially hit the $6 mark in the near future. A closer look at the charts reveals that the asset is poised for further growth, especially considering recent whale activity.
Whale profit-taking did not deter investors from pouring funds into VIRTUAL, as seen in a significant sale of 1.026 million tokens for approximately $2.7 million. This massive sale was followed by a substantial gain realized at around $1.8 million. The whale now holds an impressive 887,000 VIRTUAL tokens valued at around $2.75 million.
It is important to note that this whale’s trading activity did not deter investors from entering the market. In fact, despite the profit-taking, the altcoin witnessed a substantial hike in price, further solidifying its fundamentals and technical strength.
VIRTUAL’s recent ATH (All-Time High) of $3.33 serves as a testament to its strong performance throughout the year. The asset is now eyeing new heights as investors continue to flock into the market, driven by the asset’s robust trading volume of 9.05%, which remains healthy despite a slight drop in daily trading volume.
As we dive deeper into the chart analysis, it becomes clear that VIRTUAL has been trending upwards consistently since May 2024, with no signs of slowing down. In fact, the asset seems to be testing its ATH once more, this time with the possibility of breaking through this critical level and potentially reaching new heights.
Based on these charts and trading activity, we believe it is highly likely that VIRTUAL will continue its uptrend and hit the $6 mark in the near future.
Source: ambcrypto.com
