This week, Axie Infinity (AXS) price has consolidated within the $5.5 – $5.8 range after an unsuccessful attempt to break the $6.5 resistance. Will the whales maintain their bullish stance to trigger an early rebound? 

Over the past few weeks, Axie Infinity (AXS) rode the renewed metaverse interest triggered by Apple’s Vision Pro Augmented Reality (AR) headset launch. However, the bullish momentum now seems to be cooling off. Do the whales have enough in the tank to trigger another rally? 

Despite the Price Drop, the Whales are Still Buying

According to Santiment, despite the recent price correction, the Axie Infinity whales still have their heads in the game. The chart below shows that AXS Whale transactions have increased considerably this week. 

Between June 20 and June 29, the whales increased their trading activity from 1 transaction to 23 transactions. 

Whale Transactions assesses the trading activity of institutional investors by summing up the daily number of transactions exceeding $100,000. 

When

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Author: Ibrahim Ajibade

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