OKB, the native token of crypto exchange OKX, surged nearly 200% to a record high of $135 on August 13, 2025, before retreating to $104-$106 amid growing bearish indicators. The rally was fueled by quarterly token burns, supply reduction, and speculation about a potential OKX IPO.
Santiment data reveals negative weighted sentiment and negative futures funding rates, indicating traders are opening short positions. Whale activity shows significant sell-offs, with addresses holding 10,000-100 million tokens decreasing sharply. Simultaneously, $58 million worth of OKB (553,000 tokens) flooded exchanges in 24 hours – a 36% inflow spike signaling imminent selling pressure.
Technical analysis flags critical risks: RSI hit 95 (overbought) before declining to 91, while ADX at 24 suggests a developing reversal. Fibonacci retracement identifies $81.96 as key support. Liquidation clusters at $92.6 ($1.1M longs) could trigger cascading sell-offs if $102 support breaks, potentially driving prices toward $78. Weekly charts show weakening capital inflow via Chaikin Money Flow divergence despite price highs.
Countering this, top 100 addresses increased holdings by 25% (59.98M tokens), suggesting whales may absorb some selling pressure. The token's fate hinges on whether it holds $102 support or breaks downward in coming days.
