- One significant whale invested $4.45M in JELLYJELLY, but with the recent price reduction, now they have an unrealized loss of $1.35M.
- JELLY has fallen 10.5% in 24 hours, slipping below resistance and signaling bearish short-term market control.
- As whales and prices fluctuate, people are paying more attention to low-cap tokens, but it is still wise to proceed with caution.
A large holder has entered the spotlight in the JellyJelly (JELLYJELLY) market after acquiring 100.46 million tokens, totaling approximately $4.45 million. The accumulation took place on Gate.io, with blockchain data showing the transaction was linked to the wallet address.
However, the price of JELLYJELLY has since declined sharply, placing the whale at a reported unrealized loss of around $1.35 million. The move has sparked conversation among market watchers about both investor risk appetite and the token’s near-term trajectory.
JELLY Slips as Sellers Dominate
JELLY has fallen 10.5% to $0.03363 over the past 24 hours. If the token price dropped below $0.03867, then right now the sellers have more power than buyers. Even though it is the 915th largest cryptocurrency, it has recently seen its price fluctuate widely, going from $0.02831 to much higher levels. If sentiment weakens even more, a breakdown below this zone may show there is more risk to the downside.
Whale Activity Draws Market Attention
The whale transaction has drawn interest primarily due to the size of the buy and the subsequent loss it now represents. Market analysts often monitor such large movements to gauge potential shifts in sentiment or accumulation trends.
However, in this case, the timing appears to have misaligned with broader price action. The token’s recent correction raises questions about whether institutional-sized investors are prematurely entering positions or if this is a calculated long-term bet on recovery.
Support Holds, But Caution Remains
From a technical standpoint, JELLYJELLY is trading within a defined range, with support established at $0.02831 and resistance capping gains near $0.03867. A move below the current support level may trigger accelerated selling, while a bounce could offer a short-term recovery toward resistance.
As of now, the market is expected to decrease further and might discourage some smaller traders from starting new positions until we see an obvious trend. All in all, the recent surge in whale buying reminds us that people are becoming more interested in lower-cap altcoins, yet such activity can be risky in times of high volatility.
