The ZORA token surged to an all-time high of $0.139 on August 11, marking a 160% monthly gain and an extraordinary 1,600% increase from July lows. This rally is primarily attributed to whale accumulation, with large holders increasing their balances by 16.4% in one week – from $29 million to $33.9 million – signaling institutional confidence.
Simultaneously, the Zora platform's creator economy on Base blockchain has exploded, generating over 2 million ERC-20 creator coins since its relaunch. The ecosystem now boasts nearly 3 million unique traders and $512 million in trading volume. Every social post on Base automatically mints tradable tokens, with creators earning supply shares and fees, embedding ZORA as a core revenue engine.
Despite bullish momentum, risks loom. Futures data shows a 47% spike in open interest within 24 hours alongside a negative funding rate, indicating dominant short positions. The long/short ratio remains below 1, suggesting bearish sentiment. Technical indicators flash warnings: the RSI hit 81 (deeply overbought) and has started declining, while the price retreated to $0.133 after briefly touching $0.139.
Technically, ZORA confirmed a rounded-bottom pattern breakout at $0.095 with Aroon Up at 92.86% signaling strength. However, critical support now rests at $0.10 (61.8% Fibonacci level), with a breakdown potentially triggering a drop toward $0.073. Sustained whale and retail demand is needed to counter mounting selling pressure.