The token of the DEX platform Velvet Capital has shown an abnormal surge, skyrocketing from $0.09 to $0.9 in a very short time. However, in light of this impressive tenfold increase, analysts are raising alarms due to large coin movements.

According to on-chain monitoring, wallets associated with the project have withdrawn around 22 million VELVET to centralized exchanges (CEX) over the last three days. The market reasonably views this as preparation for a massive profit-taking and possible selling pressure from traders.

🔍 Movements of market makers and manipulations

Adding fuel to the fire is that the well-known market maker DWF Labs has also transferred about 6.68 million VELVET to the same trading platforms over the past month.

Such a synchronous influx of tokens onto exchanges alongside the vertical price increase has led the crypto community to actively discuss the classic scheme of 'spot pumping followed by derivative shaving'.

🛑 Be cautious: Jumping into an asset at such highs, while big players are flooding coins onto CEX, carries a higher risk of catching a 'knife'.

What do you think? Is this a legitimate project growth or a classic pump before a hard dump on regular traders? 👇

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