Verge (XVG): A Puppet in the Hands of Whales Proven to Be Largely Worthless

XVG has been making waves, but not for reasons that inspire confidence. XVG, or Verge as it’s more commonly known, experienced a significant spike a few weeks ago. Some might view this as a positive sign, a potential for growth and profit. However, a closer analysis shared by AbuZiyad paints a different picture.

The sudden surge in XVG’s value wasn’t a result of a groundbreaking development or a promising partnership. Instead, it was likely the result of manipulation by old whales, large holders of the currency, looking to offload their bags. Whales have been known to manipulate the market to their advantage, often at the expense of smaller investors.

While some traders have identified a bullish candlestick pattern in XVG’s recent price movement, suggesting a potential continuation of the uptrend, it’s important to approach this analysis with a degree of caution. The pattern, which consists of a large bullish candle followed by three smaller bearish candles and another large bullish candle, is indeed reminiscent of the 2017 candles. However, this doesn’t necessarily guarantee a similar outcome.

The prediction that we might still be in waves 1 and 2, heading towards wave 3, which could extend to Fibonacci levels of 1.618% ($0.032) to 2.618% ($0.24), is speculative at best. The crypto market is known for its volatility and unpredictability, and past performance is not always indicative of future results.

Furthermore, the recent spike in XVG’s price is more likely a result of a pump-and-dump scheme than a sign of sustainable growth. Pump-and-dump schemes are manipulative tactics used by large holders, or “whales,” to inflate the price of a coin before selling off their holdings, often leading to a sharp price drop. Therefore, it’s crucial for investors to conduct thorough research and consider various factors before making investment decisions.

The harsh reality is that XVG, for all its hype, appears to be largely worthless. Its primary use seems to be for pumps and dumps, a tool for whales to make a quick profit while leaving others to bear the losses. It’s a stark reminder of the risks inherent in the crypto market, where manipulation and speculation often overshadow genuine value and potential.

In conclusion, while the allure of quick profits can be tempting, it’s crucial to look beyond the surface. In the case of XVG, the recent spike is more a cause for concern than celebration. It’s a stark reminder of the need for caution and due diligence in the unpredictable world of cryptocurrency.

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CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of


Philipp Traugott
Philipp Traugott

Phil Traugott is a staff writer at CaptainAltcoin. As a trained marketing specialist for copywriting and creative campaigns, he has been advising top companies on the following topics: online marketing, SEO and software branding for more than 10 years. The topic of crypto currencies is becoming increasingly important for companies and investors and he found it very alluring and fitting for his skillset which prompted him to pivot his career towards blockchain and cryptocurrencies.

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