‘Smart Money’, You Say? Whale Loses 6 Million Dollars in ARB Dump

• A whale has sold millions of ARB tokens despite not being in profit.
• Buying pressure has dried up, indicating a further plunge below $1.05.
• If bulls are able to defend the $1 region, ARB may retest $1.12 in no time.

According to Lookonchain, an Arbitrum whale is dumping millions of ARB tokens again. This whale was identified by the smart money tracking platform Lookonchain on November 17, when their wallet was spotted selling ARB tokens at a loss. This time, it did not seem any different as the same whale sold ARB at $1.05 after buying at $1.23, at a loss of $6 million.

ARB Profit-Taking Rules

According to CoinMarketCap, Arbitrum has lost 7.98% of its value in the last seven days.

The decrease in price could be linked to the whale dump. Besides that, ARB’s 30-day performance was a 32.16% increase. So, there is…

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