Interest in $wQUIL continues to soar as Smart Dex Traders (SDTs) and Smart Money (SM) increase their positions.
In the last 48 hours, SDTs have collectively acquired 12.14 million $wQUIL tokens, amounting to a $1.21 million investment, while Smart Money has picked up 2.91 million $wQUIL, valued at around $366.7K. Currently, $wQUIL trades at $0.1146.
Historically, similar re-accumulation by SDTs and SM has often led to a price surge within days, raising the question: Could history repeat itself this time?
The total supply of $QUIL stands at 1.16 billion tokens, with an estimated 200-250 million likely lost, positioning the effective market cap near the $100 million mark.
Most large allocations have already been minted, and many whales who intended to sell have likely done so. While the supply level is slightly above initial projections, emissions are set to slow down from here on.
Big news for $wQUIL (QUIL). 1.16B tokens are created, which we could expect 200-250M lost. This puts it around 100m± Marketcap, which I think will be in the few bil conservative this run.
All the big chunks have already been minted, which means the whales have their tokens and… pic.twitter.com/V5sAMGcJNI
— CEYEBER ττ , ϙ (@EyeofCyber) November 2, 2024
This situation suggests that $QUIL may be approaching its price floor. With growing demand, there is potential for a price rally, possibly supported by anticipated Centralized Exchange (CEX) listings. The increasing volume and hints about major players backing the Quilibrium tech stack further support this outlook. With these dynamics in play, $wQUIL could be primed for a significant breakout.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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