base-pidgin

Arbitrum (ARB) has seen a 5% price surge in 24 hours, driven by whale accumulation and rising network activity. Key points:

Whale Accumulation

1. 10M ARB tokens accumulated: Large addresses have accumulated 10M ARB tokens in the last two days.

2. Whale buying drives uptrend: Whale accumulation has coincided with recent gains, indicating that large buyers are driving the uptrend.

Network Activity

1. 121% surge in dApp volumes: Decentralized application (dApp) volumes on Arbitrum have risen by 121% in 24 hours.

2. Arbitrum flips Base in DEX volumes: Arbitrum has surpassed Base in decentralized exchange (DEX) volumes, with $1.26 billion in volumes.

Price Outlook

1. Descending triangle pattern: ARB is trading within a descending triangle pattern, indicating bearish trends.

2. Crucial support level: A dip below $0.68 could accelerate the downtrend.

3. Weakening bearish trend: The Average Directional Index (ADX) is dropping, indicating a weakening bearish trend.