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Towns (TOWNS) price prediction: Whale concentrated selling triggered a sell-off, can it stop falling after a single-day 50% slump?
The community Token Towns (TOWNS) has encountered an epic dumping wave! The price has plunged from a historical high of $0.088 with a cliff-like fall of 50.79%, hitting a low of $0.035, a new historical low. As of the time of writing, there has been a slight rebound to $0.039 (a 29% rebound from the lowest point), but the market capitalization has significantly shrunk from $163 million to $86.3 million. On-chain data reveals the culprit of the big dump: Whales precisely dumped at high positions, triggering retail investors to follow suit in selling, with both Spot and futures markets seeing bearish trends. This article deeply analyzes whale movements, Spot selling pressure, futures short positions, and key support levels for the future market, revealing the risks in the cryptocurrency market behind the Token's flash crash.
Big dump trajectory: historical high cut in half, market capitalization evaporated nearly half
The culprit emerges: Whales precisely dump at high positions, triggering a sell-off
Retail investors panic: Spot market follows suit with dumping, selling pressure like a mountain
Contract Increase: Short Positions Dominate, Funding Rate Turns Negative
Market Outlook: Key Support Level Contest, Bull-Bear Watershed Emerges
Conclusion: Whale manipulation causes bloodshed, Towns)TOWNS( big dump warning
price rise to lure buyers