Whales Dump FET, AI Token Plunges ๐Ÿณ๐Ÿ“‰

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Hey there! You won’t believe what just happened in the crypto world! ๐Ÿคฏ The Artificial Superintelligence Alliance (FET) has taken a massive hit, folks. The AI Agent token is now trading at a measly $1.08, its lowest since September 2024. ๐Ÿ˜ฑ

Turns out, the whales have decided to jump ship and offload their FET tokens like hotcakes. ๐Ÿ’ธ Yes, you read that right! These big-time holders have sold more than $25 million worth of FET tokens in just a week, causing a 7% drop in value. Talk about a rough week!

Whale Alert: FET Whales Flee the Scene ๐Ÿณ๐Ÿƒโ€โ™‚๏ธ

According to the wise folks at Santiment, whales holding between 10,000,000 and 100,000,000 FET have been dumping their tokens left and right. This sudden surge in selling pressure has left the market gasping for air. ๐ŸŒช๏ธ

When whales start selling in droves, it’s like a tidal wave crashing onto the market, leading to an oversupply and driving the price down. And when buying demand can’t keep up, well, you know what happens next… Prices take a nosedive. ๐Ÿ“‰

The market is now bracing itself for more uncertainty, and if this trend continues, we might see even lower prices. Buckle up, folks, it’s going to be a bumpy ride! ๐ŸŽข

And to add insult to injury, FET’s negative weighted sentiment is now at a whopping -0.41. This tells us that the market is feeling pretty pessimistic about FET’s future. ๐Ÿ˜ฃ

Weighted sentiment takes into account the volume of social media mentions and the overall sentiment expressed. When it’s negative like this, it’s a clear sign that investors are losing faith in the token’s near-term prospects. ๐Ÿ™ˆ

Now, here’s the real question: Is FET headed for a steeper decline to $0.70? ๐Ÿค” Well, according to the daily chart, FET is currently trading way below its 20-day exponential moving average (EMA). This moving average gives more weight to recent prices, so when an asset’s price falls below it, it usually spells trouble. ๐Ÿšจ

If FET keeps tumbling, we could see it drop to $1.02. But if that support level can’t hold, we might witness a full-blown freefall to $0.70. Yikes! ๐Ÿค•

But hey, don’t lose hope just yet! A change in market sentiment and a sudden surge in demand for FET could turn things around. In that case, the token’s price could skyrocket to $1.29. Fingers crossed! ๐Ÿคž

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2025-01-28 23:02