Velvet Dives 37 Percent As Short Sellers Take Control

Velvet faced intense selling pressure recently, sending its price tumbling by 37 percent. Traders watched short sellers seize control of the market while large holders, often called whales, stepped up their activity during the sharp downturn.

Despite the sudden spike in whale transactions, blockchain data does not yet confirm whether these large holders were dumping their tokens or simply moving funds. Market participants are monitoring the charts closely to see if the downward trend will continue or if support levels will hold.

Traders should keep an eye on volume changes and whale wallet movements over the next few days. These metrics will likely signal whether the token is facing a longer correction or preparing for a potential recovery.