$SUPER Sees Highs and Lows After Remarkable Weekly Surge

Recently, in the past week, $SUPER, also known as SuperVerse, has undergone a noteworthy surge, showing an increase of over 200%. This sudden upward movement has attracted the attention of various experts and investors who are now keen to uncover the driving forces behind this trend and identify potential avenues for profit.

$SUPER Spikes Over 368% In The Last 30 Days

Notably, with the impressive surge of approximately 368% in the last 30 days, $SUPER emerged as the leading gainer on Binance, a major crypto exchange. Also, in the last 24 hours, it hit a fresh annual high at $0.4886.

However, this bullish momentum has now taken an unforeseen u-turn, resulting in a significant loss of over 15% within the past 24 hours. The question arises: What triggered this sudden price shift?

Notably, reports from Lookonchain suggest that a substantial whale dump is accountable for the abrupt decline in price. On August 13, 2022, Spark Digital Capital withdrew 999,874 $SUPER ($181K) from Binance when the price was hovering around $0.18. After patiently waiting for 469 days, the price finally rose, prompting Spark Digital Capital to sell $SUPER and hold its profits. Notably, two wallets associated with Spark Digital Capital deposited a total of 1.93M $SUPER (which is now worth about $784K) to Binance in the past three days.

Final Thoughts

Currently, SuperVerse’s $SUPER is trading at $0.3692, experiencing a decline in both its market capitalization and trading volume by over 15% each. 

Finally, it’s important to mention that these events prompt contemplation on the inherent volatility of the cryptocurrency market. Also, on the impact of substantial transactions on individual token values.

Disclosure: This is not trading or investment advice. Always do your research before buying any Metaverse crypto coins.