A crypto wallet identified as 0x7378 has secured substantial gains from VVV and LIT tokens over a six-month period, generating over $14 million in combined profits and paper gains. The rally has driven both tokens higher on daily charts, though technical indicators suggest heightened risk if market momentum slows.
Whale Realizes Major Gains on VVV
The wallet initially purchased 102,189 VVV tokens six months ago at an average price of $7.87. Following a recent price surge, the whale sold 92,189 tokens at $25.75, yielding $2.37 million. The wallet retains 10,000 VVV tokens valued at approximately $259,500, with the VVV position alone resulting in about $1.83 million in profit. In addition, the wallet's LIT holdings, accumulated over the past three months at an average price of $2.39, have reached an unrealized profit of $13.1 million.
Technical Indicators and Liquidations
Both VVV/USD and LIT/USD have exhibited strong daily momentum, but their Relative Strength Index (RSI) readings have entered overheated territory. While not guaranteeing an immediate reversal, the elevated indicators leave the tokens vulnerable if buying pressure subsides.
The recent price movement has also been accompanied by heavy short liquidations. Over a 24-hour period, VVV saw approximately $4.02 million in short liquidations, while LIT recorded $1.26 million in short liquidations. Analysts note that if momentum fades, VVV faces potential downside levels around $18 or $10, whereas LIT could decline toward $4.34, $3.17, or $2.28 if selling pressure increases.
