According to CoinMarketCap data, Kaspa The price of ‘s native token, KAS, has made significant gains recently, rising to an all-time high of $0.16. Despite reaching new highs, analysts are of the opinion that KAS will continue its strong uptrend and are aiming for even higher price targets.
According to KAS enthusiast @KASPAEnthusiast, the KAS token has surged over 19% in the last 24 hours. While the chart is still in an uptrend, they believe KAS could reach the 20 cent level in the near future.
This would represent a gain of around 30% from the current all-time high. This enthusiasm is based on strong foundations and increasing development activities in the Kaspa network.
Institutions Accumulate KAS
It is important to note that other analysts, such as Vivek4469, believe that large volume increases in KAS are a sign of corporate buying. In particular, the fact that an anonymous whale purchased 22 million KAS in just one hour supports this thesis.
Institutional accumulation generally reflects long-term confidence in an asset. If this analysis is correct, it can be expected that KAS will not experience major withdrawals following these purchasing activities.
$0.35 Target as Volumes Explode
With assumed institutional demand, some, like @Vivek4469, believe an upcoming target of $0.35 could now be seen for KAS. This indicates a 110% gain potential from current levels.
When KAS hit its previous all-time high, daily trading volumes were around $280 million. However, at the latest breakout, current volumes were only $110 million, indicating that there is significant room for growth as interest and activity increases.
A combination of technical and on-chain signals indicate that KAS price action following the recent parabolic move is a sign for further upside. Therefore, analysts and investors are preparing for an ongoing bull run towards the $0.20 and $0.35 levels in the near future.
