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Cryptocurrency News Articles
Illuvium (ILV) Price Drops 7.8% After luggis.eth Whale Dumps $1.54M Worth of Tokens
Sep 25, 2024 at 03:42 pm
A bearish flag pattern has emerged on the $ILV/USDT 4-hour chart, signaling potential downward pressure.
A bearish flag pattern has emerged on the 4-hour chart for $ILV/USDT, indicating potential downward pressure.
On-chain data reveals that the wallet luggis.eth recently withdrew 70,764 $ILV (worth approximately $2.86 million) from Illuvium. Shortly after, 40,000 $ILV ($1.54 million) were sold just 45 minutes ago, triggering a sharp 7.8% drop in the token’s price.
This isn’t the first time luggis.eth has influenced the market with a large sell-off. On June 22, a similar sale of 40,730 $ILV ($2.91 million) caused the token’s price to plummet by 5.6% instantly. These repeated sell-offs have left a noticeable mark on $ILV's price trajectory, contributing to increased volatility in the market.
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