Smart Money Wallets Buy Back VIRTUAL After 9% Decline

In a recent development, the cryptocurrency market witnessed a significant transaction involving the token VIRTUAL. Over the past seven days, smart money wallets sold approximately $1.2 million worth of VIRTUAL. However, within the last 24 hours, these same investors re-entered the market, purchasing $76,000 worth of the token. This sudden shift in investment strategy has raised questions about the underlying motivations and potential future movements of VIRTUAL.

The sell-off, which occurred over the past 24 hours, resulted in a 9% decline in the altcoin's value, reducing its weekly gain by 25%. Despite this setback, the token remains the fourth-best performer over the last 90 days, with a notable increase of 139.78%. This performance places VIRTUAL ahead of other memecoins and AI tokens, indicating a strong market presence and investor interest.

The recent activity of smart money investors in VIRTUAL is particularly noteworthy. These investors, known for their early entry into tokens and subsequent price gains, have shown a pattern of selling and then buying back the token. Over the past 30 days, they sold $424,000 worth of VIRTUAL, and within the last seven days, this amount increased to $1.2 million. However, the recent $76,000 buyback suggests a strategic move to potentially drive the token's price upward.

According to a report, VIRTUAL currently has the highest number of smart money holders compared to any other memecoin or AI token in the market. This large cohort of investors holding the token often indicates a higher potential for the asset to outperform. The recent buyback by smart money comes at a time when VIRTUAL is trading along a major ascending support level, which has historically sparked rallies. If the rally materializes, the asset has a high probability of gaining up to 45%, potentially reaching $2.5. However, if the rally fails, VIRTUAL faces the risk of declining to $1.17.

The recent weakness in VIRTUAL's performance has not deterred investor interest. The token remains the fourth-best performing token over the last 90 days, ranking just below other memecoins and SocialFi leaders. Additionally, AI tokens, which include VIRTUAL, ranked fifth in the market last month, posting a 10.8% gain. This alignment between VIRTUAL's performance and the AI token segment ranking suggests continued trader interest in the asset, reinforcing the potential for another rally.