The price of Venice Token (VVV) significantly increased, reaching its highest level since May 12 amid active purchases from investors.
Venice Token (VVV) Price Increase
The price of Venice Token (VVV) rose to $4.25, an 80% increase from its lowest point this month. This surge has lifted its market capitalization to over $130 million.
Whale and Smart Investor Accumulation
Data shows that whales are actively accumulating VVV tokens. According to Nansen, whales now hold 80,000 tokens, up from 66,000 earlier this month. Smart money investors' holdings have surged by 306% in the last 30 days to over 127,000. The decrease in the amount of VVV tokens on exchanges also indicates active accumulation by investors.
Technical Analysis and VVV Price Forecast
In recent days, VVV's price has shown consistent growth. After forming a double bottom at around $2.45, the token surpassed an important resistance level at $3.85. The next key level to watch is $5.33, which is 25% above the current price.
The rise in the price of Venice Token (VVV) amidst whale and investor activity may signal a strengthening of the token's position in the market.
