- AUCTION plunged 50% after whales deposited $48.6M tokens into exchanges, triggering a sell-off and shaking investor confidence.
- Despite a 712% YTD surge, whale-driven volatility raises concerns as large transfers and profit-taking fuel uncertainty.
- AUCTION faces key support at $24-$26, with potential rebounds, but failure could push prices toward $18 amid bearish technical signals.
Whale movements have triggered a sharp decline in AUCTION’s price. According to Lookonchain, large holders deposited 1.08 million AUCTION tokens, worth $48.6 million, into Binance and OKX. This massive sell-off caused a dramatic 50% price drop, shaking investor confidence. AUCTION had been on a parabolic run in 2025, becoming one of the best-performing cryptocurrencies. However, this sudden reversal raises concerns about whale-driven volatility.
Whale Activity and Market Impact
Bounce (AUCTION) had surged over 712% this year, reaching a high of $67.55, its highest level since 2021. Market capitalization soared past $380 million as retail investors rushed in, driven by fear of missing out (FOMO). Santiment data revealed a sharp rise in active addresses, jumping from less than 400 earlier this month to 1,505. This rapid increase reflects heightened retail interest.
However, on-chain data suggests this surge was influenced by whale transactions. The number of large transfers exceeding $100,000 reached its highest level in months. Transactions above $1 million also saw a spike. While whale accumulation often signals confidence, it can also indicate an impending sell-off. The lack of clear buy-sell data leaves room for speculation about future price movements.
Technical Outlook: Bearish Trend and Key Support Levels
Despite strong investor sentiment, technical indicators suggest caution. A bearish MACD crossover and oversold RSI signal potential downside risks. The AUCTION/USDT four-hour chart shows a sharp decline following its recent peak at $57. A massive red candle pushed the price down to $27.06, breaking key support levels.
The immediate support zone lies between $26 and $24. If this level fails, stronger support exists between $21 and $20. Additionally, another critical support level is at $18.27. These areas could attract buyers and trigger a price rebound. However, failure to hold these levels could lead to further declines.
On the upside, resistance stands at $30.02 and $34.46. Any recovery attempt may face selling pressure at these points. The presence of wicks in recent candles suggests liquidity hunts and potential accumulation at lower levels.
