LABNEW fluctuates 21.4% in 24 hours: slight pullback after whale accumulation driven rebound
Bitget Pulse2026/05/17 16:02Brief Overview of Price Fluctuations
Over the past 24 hours, LABNEW (LAB) surged rapidly from a low of $4.4559 to a high of $5.40741, before falling back to the current $4.85445, with a price amplitude of 21.4%. The price exhibited a typical "V-shaped" rebound followed by a pressured correction, overall remaining in a high volatility range.
Summary of Reasons for Price Movements
- Whale address accumulation driving major rebound: On-chain monitoring shows multiple new wallets withdrawing large amounts from exchanges (previous similar operations involved about 100 million LAB, accounting for roughly 30% of the circulating supply), with average cost ranges near $4.9, directly supporting price rebounds from lows.
- Trading volume surge accompanied by net capital inflow: 24-hour trading volume stayed at high levels (with recent comparable volatility ranges spanning tens of millions to hundreds of millions USD). On-chain data indicates net capital inflow, increasing price elasticity.
- Natural corrections following significant prior distribution: In mid-May, 10 new wallets withdrew about 100 million LAB (worth over $480 million) from Bitget, an operation still remembered in the market. Some funds face profit-taking or distribution pressure, leading to a decline after reaching highs.
Market Perspectives and Outlook
The community and mainstream analysts remain cautiously optimistic regarding this price movement, believing whale accumulation offers short-term support, though high volatility raises concerns about manipulation. Some viewpoints highlight that without new positive catalysts, prices may test support near $4; analysts also warn of short-term profit-taking risk, recommending attention to large on-chain transfers and net outflows from exchanges to gauge the trend's sustainability.
Note: This analysis is automatically generated by AI based on public data and on-chain monitoring and is provided for informational purposes only.Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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