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

Source: CryptoNewsNet Original Title: 8 Million MONAD Sold By Whales In 24 Hours, Could Price Suffer? Original Link: Monad is facing renewed pressure after a sharp dip in price triggered by broader market weakness led by Bitcoin. The pullback has shaken investor confidence, resulting in notable selling activity across key cohorts.

As sentiment shifts, the question now is whether MONAD can stabilize or whether deeper losses are ahead.

Monad Whales Turn To Selling

Whale activity has become a major concern for MONAD holders this week. On-chain data shows that large wallets holding more than $1 million worth of MONAD — excluding exchanges — sold over 8 million tokens in just 24 hours. This scale of distribution signals a clear decline in confidence among influential holders, who often drive major price movements.

Their exit from the asset could create additional downward pressure if the trend accelerates.

Such aggressive whale selling typically reflects expectations of further decline or a desire to reduce exposure during periods of volatility. Since these wallets hold a significant supply, their collective moves can sway price direction sharply.

The broader activity on the Monad network also paints a cautious picture. Active addresses have been steadily falling over the past week, with activity nearly flatlining in the last few days. Active addresses represent users interacting with the chain, whether through sending, receiving, or executing transactions.

This drop in activity reflects uncertainty among MONAD holders. As long as market conditions remain unfavorable, user engagement may stay muted, limiting the organic demand needed to support price recovery. A revival in active addresses is essential for regaining momentum.

MONAD Price Might See Decline

Monad’s price is down 5% in the past 24 hours, trading at $0.029 at the time of writing. The altcoin is attempting to establish short-term support within the $0.027 to $0.030 range as it searches for stability.

However, the pressures highlighted above suggest further downside risk. If whale selling continues and network participation weakens further, MONAD could fall toward the key support at $0.023, deepening losses for holders.

On the positive side, if bullish momentum returns and whales pause their distribution, MONAD could recover. A bounce from $0.030 would allow the token to target $0.035, with a potential extension to $0.045. A move into this zone would invalidate the bearish outlook and restore investor confidence.