8 Million MONAD Sold By Whales In 24 Hours, Could Price Suffer?

Monad (MONAD) is facing renewed selling pressure following a sharp price dip linked to general market weakness led by Bitcoin. Influential holders, specifically whales holding over $1 million in MONAD (excluding exchanges), sold more than 8 million tokens within 24 hours, signaling a significant drop in confidence that could exert downward pressure on the price. Concurrently, on-chain data shows that active addresses on the Monad network have been steadily falling, indicating muted user engagement and uncertainty among holders. At the time of writing, MONAD was trading at $0.029, attempting to find support between $0.027 and $0.030. If whale selling persists and network activity remains low, the token risks falling toward the key support level of $0.023. Conversely, a pause in distribution and a return of bullish momentum could see MONAD target $0.035 and potentially $0.045.

(Source：BeInCrypto)