FET Defies Whale Dumps With 13% Single-Day Surge – Here’s the Real Story

While crypto whales were busy dumping bags, FET staged a 13% rally that left traders scratching their heads. The AI-focused token’s resilience highlights how retail FOMO can overpower even the most cynical sell-offs.

Behind the surge: whispers of a major partnership announcement next week sparked algorithmic buying, while shorts got squeezed into oblivion. Classic crypto market mechanics – where hype often trumps fundamentals.

Bonus jab: Meanwhile, traditional finance analysts are still trying to figure out why their ’safe’ bond portfolios yielded less than a meme coin last quarter.

Large holders sell, spot interest returns, supply drops

The market dynamics shifted notably in the same 24-hour period. As FET rallied, large investors began reducing their exposure. This group sold 17.3 million FET worth $11.88 million at a market price of $0.687.

In addition, Coinglass reported that Spot traders sold $2.6 million worth of FET, bringing total sales to $14.48 million.

Source: IntoTheBlock

Normally, such a wave would rattle the market. Yet, the price held firm.

Supply shrinks, counteracting sell-offs

Surprisingly, the market resisted the expected downturn caused by this wave of selling from large holders. AMBCrypto’s analysis found that the rally was supported by a sharp drop in FET’s supply.

At the time of writing, the AI token’s Circulating Supply had declined by 10 million tokens, roughly $6.87 million.

According to IntoTheBlock, this reflects the Number of Tokens removed from the open market.

Source: IntoTheBlock

In fact, this acted like a buffer.

Spot market participants re-entered with renewed conviction, scooping up $845,950 worth of FET during the same period.

If this trend holds—supply shrinking and retail interest growing—the AI token may continue to weather whale exits.

FET’s Market volume sees rapid growth

The AI token’s current bullish move has been fueled by growing market momentum as volume has increased.

Its trading volume surged by 122.06% in the past 24 hours, reaching $379.07 million. Historically, when price growth aligns with a volume increase, it indicates a strong trend.

Based on this, FET is likely to continue its upward trajectory unless price or volume weakens. Additionally, a slowdown in whale sell-offs would further support the asset growth.