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Monero [XMR] rallies 50% after hacker induces $330M inflows – Good time to buy?
In a sudden and unexpected turn of events, Monero (XMR) has experienced a 50% price surge within the past day. This impressive rally can be attributed to a hacker who induced massive liquidity inflows totaling $330 million on-chain. However, it is essential for investors to understand that this significant price increase may not be sustainable in the long run.
As the market sentiment shifts against XMR, fundamental analysis suggests that the asset’s price could potentially drop further. Market indicators reveal that sellers have been more dominant, indicating a decline in buying pressure.
Source: https://ambcrypto.com/monero-xmr-rallies-50-after-330m-inflows-is-it-a-good-time-to-buy-in/
