VELVET: Insider Transfers Hit Exchanges After 10x Surge

VELVET surged tenfold from $0.09 to $0.93 in days while affiliated wallets shifted 22 million tokens worth $19.8 million to Bitget, Gate.io and KuCoin over the past 72 hours.

Market maker DWF Labs added another 6.68 million tokens valued at $6 million to the same venues during the last month, raising fresh questions about coordinated distribution after the rapid advance.

With price testing upper Bollinger resistance at $0.81 while RSI flashes overbought at 85.13, a healthy retracement to the 50-EMA support at $0.31 seems probable before further continuation. The 200-EMA at $0.17 remains the deeper structural floor, and the MACD golden cross at 0.14 continues to underpin the broader bullish structure on the four-hour chart.