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Bitunix analyst: VINE rebounded 12.2% but the pressure remains unresolved, focusing on 0.082 and 0.094 in the short-term, and must be wary of Whale sell pressure and the risk of speculative funds retreating.
BlockBeats news, on August 4th, the meme coin VINE rose 12.2% in the past 24 hours, currently reported at 0.07446 USD, with trading volume increasing to 214 million, an increase of over 80%. The liquidation heat map shows that the price received strong support in the range of 0.059–0.062 and saw short order liquidations, triggering a technical rebound. However, the liquidation pressure in the upper range of 0.082–0.094 is evident, providing an opportunity for short-term market makers to dump. Since Elon Musk's tweet on July 24th promoting the AI revival of Vine, VINE briefly surged to 0.172 USD, but there was no substantial follow-up in the news, leading to profit-taking pressure and a drop below the 30-day moving average. According to on-chain data, the top ten wallets still hold 40% of the supply, and the market liquidity risk has not been eliminated, with capital outflow from the Solana chain.
VINE7.97%
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