- OKB surged to a monthly high of $54.7 after OKX burned 42.4 million tokens, triggering a supply shock and renewed whale accumulation.
- With strong buying momentum and bullish technicals, OKB looks poised to test the $56 resistance—unless profit-taking drives it back toward $49 support.
OKB has soared to a new monthly high following a significant token burn by crypto exchange OKX, reigniting bullish momentum and attracting renewed whale interest.
After falling to a low of $46 earlier this month, OKB defended the $49 support level and staged an impressive rebound. Over the past day, the altcoin surged from $47 to a peak of $54.7—marking an 8.03% gain on the daily timeframe. At the time of writing, OKB is consolidating slightly at $53.93.
What’s Fueling the Rally?
Two key factors are driving OKB’s latest price surge. First, OKX recently completed its 28th token burn, removing 42.4 million OKB—worth approximately $2.26 billion—from circulation. The move cut circulating supply by 20%, leaving just 300 million tokens in the market.
This sharp reduction in supply triggered a supply shock, which often boosts prices when demand remains steady or climbs. The scarcity narrative has clearly resonated with investors.
Second, whale investors are making a notable return. Data from IntoTheBlock shows that while whale capital inflow had dropped to zero just days ago, whales accumulated 86.13 million tokens over the past day—indicating a renewed conviction in OKB’s prospects.
Also read: FARTCOIN Price Slips After $2.3M Whale Dump—Is a Deeper Correction Ahead?
Momentum Building Toward $56?
Technical indicators suggest OKB’s rally may not be over. The Exchange Flow Balance on Santiment has turned negative, signaling greater outflows from exchanges—typically a bullish sign of accumulation.
Meanwhile, OKB’s Relative Strength Index (RSI) rebounded from 30 to 57, reflecting a shift toward buyer dominance. Additionally, a bullish crossover on the Stochastic RSI points to strengthening momentum.
If current buying pressure holds, OKB could soon challenge the $56 resistance level. However, if profit-taking emerges after the recent rally, the token may retest support near $49.
With bullish fundamentals and whale activity supporting the uptrend, the coming days will be pivotal for OKB’s price trajectory.