$VELVET is experiencing a clear case of manipulation, similar to what happened with $LAB and $BEAT. This time, it's with a coin like VELVET. After rising from 0.4800, the number of traders increased to nearly one billion daily volume on the futures market. However, this number has dropped since the price reached 2.1700. Most of the big players and traders have exited, leaving only those stuck in positions below. One thing the team is likely doing is removing the offered coins and clearing the liquidity to manipulate the price with very weak volumes and drive it up irrationally. Currently, there is no strong volume on the futures market, which confirms my suspicion of manipulation. However, there is a possibility of a pullback to the M pattern. If this fails, it means breaking the 2.1700 resistance and continuing the rise to $3, then potentially $10 later on, due to the team's manipulation. The actual number of offered coins is not 494 million because 95% of them are likely associated with the project.