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Arbitrum leaves 99% holders at a loss: Is ARB headed for a total crash?
The recent price action of Arbitrum (ARB) has been nothing short of catastrophic. With the altcoin’s value plummeting, it appears that 99% of its holders are now in a loss situation.
Over the past month, ARB has suffered a decline of an astonishing 38.9%. This monumental downturn has led to a complete wipeout of profits for almost all investors who held onto their ARB tokens throughout this period.
The data suggests that there is no respite in sight either. A review of Arbitrum’s recent price movement shows that it has hit a new all-time low, with a value of $0.37 recorded just three days ago. This dismal performance has been accompanied by a 20.11% decline on weekly charts and a massive 38.9% drop over the past month.
Furthermore, the data indicates that this dire situation is not limited to small-scale investors alone. Even so-called “whales” – large holders of ARB tokens – have also turned bearish. This shift in sentiment has resulted in an extraordinary sell-off, with whales selling over 550,000 ARB tokens within a single day.
The stark reality facing Arbitrum’s investors is that their losses now total nearly 40%. It is clear that the market has lost all confidence in this altcoin, and it appears that even the largest holders of ARB tokens have given up on its potential to recover.
As a result, it seems increasingly likely that the token’s value could drop further. A breach below $0.42 could lead to a new all-time low for ARB, leaving investors facing even more catastrophic losses.
On the other hand, if there is any chance of redemption for these distressed investors, it will depend on whether buyers take this opportunity to purchase the dip and prop up ARB’s value. If such a rally materializes, it could potentially see the token reclaim $0.5 – though this would be a remarkable turnaround given the current market dynamics.
Ultimately, the future trajectory of ARB’s price remains uncertain, but one thing is clear: the losses that have been suffered by its investors are nothing short of breathtaking.
Source: ambcrypto.com
