STONK crypto dips despite $4.4M whale buy – Could price fall to $0.20?

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Analytics

$STONK crypto’s most recent rally gained renewed support from whale accumulation, and stronger StonkFun revenue, along with improving derivatives across the market.

Whale demand strengthened after a large holder deployed $4.4 million USDC into $STONK following its recent price advance. The trader purchased 15.06 million $STONK at an average price of roughly $0.295.

The purchase notably placed significant whale demand around the $0.30 price area, where $STONK encountered resistance. Therefore, rather than accumulating before the rally, the whale increased exposure after $STONK had already recorded substantial highs.

The $0.295 entry also placed the whale’s position near the market’s immediate resistance area. This positioning suggested continued conviction despite the token’s already elevated price.

Hence, persistent demand around this region remains key for preserving the broader price recovery structure.

Revenue gap fuels a repricing narrative

Another fundamental development also reinforced the demand narrative behind the whale’s positioning.

Reportedly, StonkFun generated around $1.84 million in daily revenue, surpassing Pump.fun’s $1.22 million during the observed period. Importantly, $STONK maintained a smaller market valuation compared to PUMP, creating the basis for a potential repricing narrative.

Therefore, the revenue comparison provided traders with another reason to reassess $STONK beyond its latest price performance. More importantly, the strong revenue figure arrived as large-holder accumulation increased exposure around the prevailing market price.

Therefore, the alignment linked speculative demand with measurable platform activity rather than depending entirely on price increase. However, one daily revenue comparison alone could not establish whether StonkFun would preserve its advantage.

Persistent revenue strength would reinforce the valuation argument and potentially attract demand further.

Are derivative traders rebuilding bullish exposure on $STONK?

Additionally, the derivatives market participants also showed fresh confidence as $STONK consolidated following its rapid price expansion.

Notably, $STONK’s OI-Weighted Funding Rate recovered into positive territory after dipping below the zero level several times during the observed period. At the time of reporting, the metric had reached around 0.0099%, reflecting renewed long-side positioning across the derivatives markets.

Furthermore, the positive funding suggested long traders paid shorts, indicating leveraged participants favored further upside increasingly.

The earlier funding swings, however, suggested that derivatives conviction had remained unstable throughout $STONK’s recent price rally.

Notably, the rate previously plunged to around -0.06% before recovering sharply, reflecting a rapid shift in trader positioning. Hence, the recent positive reading supported bullish sentiment without showing excessive long funding conditions.

Rising channel faces its next crucial test

On the 4-hour timeframe charts, $STONK remained inside its rising channel after its rapid September rally. The token faced rejection around the $0.30 resistance zone, which continued restricting further upside.

At the time of analysis, $STONK price sat around $0.274, leaving the token between $0.25 support and the $0.30 resistance zone.

The weakening indicators, however, introduced caution as the broader ascending structure remained intact. The MACD indicator at 0.028481 had slipped below its 0.033200 signal line, while the histogram remained in the negative territory at -0.004719.

Meanwhile, the RSI indicator cooled to 55.45, below its average signal at 61.49 after retreating from an earlier overbought zone. The cooling reduced overheated conditions, although the declining buying pressure increased risks on the rising channel’s lower boundary.

However, successfully holding the $0.25 support would maintain the structure and could support another challenge of the $0.30 resistance.

A strong breakout round the $0.30 area would expose the $0.35 level, while losing the $0.25 support could shift attention toward the lower support at $0.20.