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DoubleZero [2Z] was the biggest altcoin gainer in the past 24 hours, recording more than 21% at press time. The altcoin broke above a major demand zone that had held price for more than three months in late 2025 but broke down.
However, can the altcoin sustain the upside momentum?
DoubleZero’s demand pushes price upwards
An increase in daily trading volume mainly drove DoubleZero’s rally. Notably, the volume jumped by more than 264%, surpassing $28 million. That figure was six times higher than the average daily volume of $4 million, showing strong trader interest in the token. This momentum was further confirmed by double‑digit growth in Open Interest (OI) across major exchanges such as Binance.
Additionally, the circulating supply of the token on the Solana [SOL] blockchain was shrinking. The max supply had declined from 10 billion 2Z to 9.998 billion tokens. The data showed that more than 200K 2Z had been burned.
Such a decline in supply was occurring as the number of holders rose to a new high of 6.79K. As holders were moving the token off the exchanges, the two metric readings combined demonstrated demand for the 2Z token.
Further analysis on Solscan showed a high number of transactions valued between $100K and $1 million, totaling about 1,729, indicating a large holder involvement in pumping capital into the altcoin.
For instance, institutions like BtcTurk moved more than $300K worth of 2Z to their cold storage. Such a move suggested the rally could be just starting, as cold wallet storage means long-term accumulation.
2Z price in recovery mode
On the daily chart, 2Z was breaking above a key zone between $0.10 and $0.12. This area had served as support earlier but turned into resistance after the breakdown in early February.
The breakout occurred after an accumulation inside a rising channel that had been forming since March. At press time, the Cumulative Volume Delta (CVD) and MACD bars were all supporting the upside momentum.
The hourly timeframe showed the trend was healthy as it rebounded from a 0.78 Fibonacci Retracement level. Before the bounce back up, 2Z’s price ranged for a week at this $0.09 zone.
Additionally, the On-Balance Volume (OBV) hit a new monthly peak of 50 million before retracing, while the Advance/Decline Ratio rose to 8, highlighting strong buying activity.
Therefore, if 2Z holds above the $0.10 zone, the next target sits at $0.15. Conversely, a breakdown would extend the rising channel consolidation or move sideways.
Final Summary
- DoubleZero rallies 21% amid shrinking 2Z token supply, holder increase, and high-volume transactions.
- 2Z broke above a key level at $0.10 on the daily chart as bulls defended the 0.78 Fib level on the hourly chart.
newsbtc.com
