zora Token Surges as Whale Activity Heats Up
On Monday, September 9, the Zora token (ZORA) experienced a stunning 14% price hike, hitting its highest mark since August 28. This surge marks a remarkable 27% increase from its low last week.
The rise of ZORA began gaining traction due to sustained buying by major holders,known as whales,and savvy investors. Recent data reveals that whales now own 8.34 million tokens, a important leap from the 4.41 million held at the start of the month.Their purchases have surged by 56% in just 30 days.
Smart investors aren’t lagging behind either; they’ve bagged over 13.40 million tokens. Increased whale and smart money activity signals strong confidence in ZORA’s future growth.
Gains were further fueled by expanding network usage. The top creator coins’ market cap in Zora soared 33.6% to $58 million, according to CoinGecko. kazonomics, the network’s largest creator, saw a massive 462% jump over seven days.
ZORA caught the limelight in July when Coinbase unveiled The Base app—a wallet update promoting social media, chat, and trading. Zora integrates into this system, enabling users to tokenize their posts.
Technical analysis suggests ZORA could hit a target price of $0.100, a 35% rise from current levels. However, a dip below $0.0665 might signal a shift away from the bullish trend.
