VEE Crypto: The Rollercoaster Ride You Didn’t Sign Up For! 🎢💰

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  • VEE’s price has doubled over the last seven days, thanks to some rather enthusiastic whale activities. 🐋💸
  • But hold your horses! Intense profit-taking has sent the price charts into a bit of a tailspin. 📉

In a stunning display of financial gymnastics, VEE crypto, the native token of the SmartNFT analytics platform BLOCKv, has soared by a whopping 100% in just seven days! It even managed to outshine the big boys like Bitcoin [BTC]. Who knew crypto could be this exciting? 🎉

But, as is often the case with such dizzying heights, speculators have started cashing in their chips. At the time of writing, this altcoin has retraced by nearly 40%. It seems to be playing a game of limbo above the crucial 50% Fibonacci retracement level. Will it keep dancing, or is it time to sit down? 🤔

VEE Crypto Under Profit-Taking

Now, in the world of crypto, strong uptrends are often followed by pullbacks, like a dog chasing its tail. Typically, these pullbacks ease and bounce back at the 50% or 61.8% Fibonacci levels. In VEE’s case, the 50% Fib level is like a cozy blanket, coinciding with a bullish order block (support) on the 6-hour chart. So, it’s expected to act as a sturdy support. 🛡️

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The lower candlestick wick suggests that this theory is holding up—at least for now. There’s considerable demand at the 50% Fib level, but alas, capital inflows are as average as a lukewarm cup of tea, as shown by the CMF (Chaikin Money Flow) hovering around neutral levels. ☕

Additionally, the RSI is at a pivotal level, and only a rebound could signal a potential recovery. If the key technical indicators get their act together, VEE might just aim for $0.053 or even a recent high of $0.067. But, if profit-taking continues, we could see VEE tumble down to $0.03 or even $0.02. Yikes! 😱

Whales Behind the Rally

Now, let’s take a closer look at the whale-sized factors behind this latest rally. It turns out that whale movements were the secret sauce behind the wild 100% pump. On February 1, VEE saw a massive transaction worth $130k. Talk about a splash! 💦

As indicated by the blue spikes, another whale transaction of nearly $150k was recorded on February 5. This hefty whale clip triggered the second leg of the rally, with VEE pumping by 64% in a single day and extending it to a staggering 160% by February 10. Who knew whales could be so generous? 🐋💰

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And let’s not forget the surge in market interest during this rally, which provided the much-needed fuel for VEE to climb higher. According to Santiment, social volume spiked, indicating increased market chatter. However, the weighted sentiment flipped negative, which could put a damper on any strong rebound for VEE in the short term. Oh, the irony! 😅

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2025-02-11 20:10