Due to the whale's crazy shopping, Curve (CRV) rebounded 40% from its historical low.

Curve Finance's native token CRV fell sharply by 30% a week ago. The crash led to the Chief Executive Officer's loan position being liquidated on a large scale, causing concern among many investors. Whales took advantage of Curve's predicament and loaded millions of tokens into their own pockets.

On June 13th, the price of CRV fell sharply, with high liquidation risk, shocking the encryption community. As a result, the native token of Curve Finance reached a negative milestone after falling by nearly 40%. The token, which had been hovering in the price range of 0.35 to 0.37 US dollars, fell to a historical low (ATL) of 0.20 US dollars.

Since then, the Curve Finance team has been dedicated to solving problems and stabilizing token prices. Last weekend, the token began to recover, reclaiming the support level of $0.30.

However, at the beginning of the new week, the price of CRV fell below the support area, dropping to the level of 0.27-0.29 dollars. On Tuesday afternoon, Curve continued to pump, with 9 green candles appearing per hour. After nearly a week, the token rebounded by more than 40% from the decline. After briefly rising to the key level of 0.355 dollars today, the current trading price of CRV is around 0.33 dollars.

Despite investor concerns, the Whales took the opportunity to buy CRV at a discount. On-chain analysis companies revealed that six Whales accumulated over 50 million CRV during the price drop period.

According to reports, the Whale purchased 55.26 million Curve tokens, worth about $19.4 million. Five of the six wallets are first-time buyers, leading to a surge in the first-time purchase volume of tokens this week. Since the price rebounded, the Whale has obtained about 8% unrealized profit, approximately $1.43 million. The biggest winner purchased 4.34 million tokens at an average price of $0.288, with a Return on Investment of 21.84%.

Many market observers predict that the price of CRV will be bullish in the future. As the price begins to retest the $0.3 price range, cryptocurrency trader Follis said that the token of Curve Finance will perform well.

Traders said the token will be one of the first alternative tokens to pump 2 times from the low point. He emphasized that the token's '-40% nuclear explosion' is related to Michael Egorov's liquidation event. In addition, he pointed out that the token's price has recovered nearly 50% within 5 days.

Cryptocurrency analyst CrediBull stated that the token of Curve Finance "has confirmed a clear 5-wave impulse". In the analyst's view, this indicates that CRV is more bullish in structure than other tokens such as CVX. Based on this performance, CrediBull predicts a target price of 2 US dollars for the token.

Another trader also holds a similar view, stating that CRV "is expected to alleviate some pressure." For Sanchez, this liquidation drop looks like the last wave down in the five-wave pattern. He believes that the recent intraday performance "should see a good rebound."

(Data Source: Rubmar Garcia)