Kaspa Whales Accumulate Over 35 Million Tokens as Price Surges 27%

Kaspa (KAS) is experiencing a significant bullish momentum as large wallets, or 'whales,' have accumulated millions of tokens, driving a 27% price increase in the past 24 hours to $0.0525, marking a two-week high. The asset's daily trading volume surged by 112% to $86.4 million, and its market cap surpassed $1.4 billion, according to data from Kaspa Builders.

On-chain analysis reveals that eight major wallets, including Rank #164 and Rank #8, bought over 35 million KAS tokens during a period of broader market fear. Kaspa Builders emphasized that these are not retail buyers but long-term investors and exchanges, suggesting a potential trend reversal. The accumulation occurred as Kaspa broke out of a 10-day accumulation zone, with technical indicators showing strong buying pressure.

Technical analysis highlights a breakout above the $0.05 mark, supported by Fibonacci levels indicating key supports at $0.0500, $0.0487, $0.0466, and $0.0451. The relative strength index (RSI) exceeded 80, indicating overbought conditions but strong momentum. Analyst Alex noted that Kaspa emerged from a multi-week slump, breaking a falling wedge pattern that had compressed since a previous 535% rally. The RSI and MACD indicators show bullish crossovers, with short-term targets at $0.058–0.060 and potential resistance at $0.07.

Despite the bullish signals, the broader crypto market remains in extreme fear, and macro uncertainties for 2026 could impact Kaspa's trajectory. The setup is statistically favorable for a mid-term bounce, but failure to hold above $0.045–0.046 could lead to a retest of lower supports around $0.037–0.039.