Avalanche (AVAX) extends bearish drawdown with 8% slump amid whale sell-off scare
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The value of the transferred asset comes in at $54.2 million based on the current market price. An investigation revealed that the entity utilized cross-chain bridges such as THORChain for the transfers. The movement has further aggravated bearish market sentiment surrounding AVAX. This transfer has triggered a notable decline toward the critical support level of $23.34, as it is barely $2 away from breaching it. Analysts believe that if that happens, there will be more downsides for Avalanche to worry about.reveal that from May 23, when the price was $38.31, it has not been able to flip its bullish trend.nudged Shiba Inu, the dog-themed coin, out of the top 10 as it climbed up by more than 18% in value.
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