June 27, 2026·Bearish·market event

VELVET Token Surges 37% Amid Short Squeeze, Insiders Dump 29M Tokens

VELVET token surged 37% due to a short squeeze that liquidated $601M in short positions. On-chain data shows project wallets and DWF Labs deposited 29 million tokens onto exchanges ahead of a scheduled unlock on July 10, signaling potential selling pressure.

Detected & updated continuously · Source: Ruma

Mentioned

Velvet (velvet)

@DWFLabs

Sources

@CoinEdition

📊 $VELVET is up 37%, but on-chain data is flashing a major warning sign. While a violent short squeeze wiped out $601M in shorts, project wallets and DWF Labs just dumped 29M tokens onto exchanges ahead of a July 10 unlock. Is this a real reversal or a dead cat bounce? See