The meme token Asteroid (ASTEROID) rose 19% over the past 24 hours to $0.00032, driven by a significant increase in trading volume and accumulation by a large-scale whale investor.
Derivatives data from CoinGlass supports the move, showing that Open Interest expanded by $0.8 million as the price climbed, which indicates new capital is entering the market. At the same time, the funding rate remained slightly negative at -0.0005% as of May 16, suggesting that traders are not yet paying a premium for long positions and some are still positioned short, creating potential for further upside if they are forced to cover.
The rally initiated after the price found decisive support at a demand zone around $0.00024, according to an analysis of the token’s technical chart. The subsequent price action has pushed the token directly toward its next major barrier at the $0.00036 resistance level. Trading volume backed the move, surging 72% to $21.63 million and confirming broad participation in the rally.
This whale-led accumulation in a smaller altcoin mirrors a broader market trend where large holders are establishing significant positions. On-chain data for Cardano (ADA), for example, shows wallets with over one million tokens now hold more than 67% of the supply, according to Santiment Intelligence. Similarly, the presale for AlphaPepe (APH) has reported a surge in whale interest ahead of its exchange debut. The price action in ASTEROID now tests whether it can sustain this momentum through the $0.00036 resistance, which would signal a confirmed breakout and open the possibility of a continued trend.
This article is for informational purposes only and does not constitute investment advice.
