Ethereum’s major holders are returning to the market. Amid the past week’s market consolidation, major players have seized the opportunity to accumulate ETH aggressively.
On-chain data reveals an uptick in whale holdings, while ETH-based exchange-traded funds (ETFs) recorded their first weekly net inflow in eight weeks, signaling a significant shift in sentiment.
ETH Whale Accumulation and ETF Inflows Hint at Imminent Price Surge
According to on-chain data, leading altcoin ETH has noted a significant spike in its large holders’ netflow over the past week. According to the on-chain data provider, this has rocketed 2682% in the past seven days.
Large holders of an asset refer to whale addresses holding more than 0.1% of its circulating supply. The large holders’ netflow metric tracks the difference between the coins these investors buy and the amount they sell over a specific period.
When an asset’s large holders’ netflow surges, its whale investors are ramping up their coin accumulation. This accumulation trend suggests a belief in ETH’s future upside, as major holders tend to act when they see value at current price levels.
Adding to the bullish narrative, ETH-backed ETFs recorded their first weekly net inflow in eight weeks. According to SosoValue, net inflows into ETH-backed ETFs reached $157.09 million between April 21 and April 25, reversing an eight-week streak of outflows totaling over $700 million.
Total Ethereum Spot ETF Net Inflow. Source: SosoValue
With major players re-entering the market, ETH could be poised for further upside in the near term.
Ethereum Sees Bullish Momentum
On the technical side, ETH’s positive Balance of Power (BoP) highlights the resurgence in demand for the leading altcoin. This is currently at 0.31.
This indicator measures the buying and selling pressure of an asset. When its value is positive, pressure outweighs selling pressure. This indicates strength in the ETH’s price movement and signals further potential upward momentum. If this happens, ETH could rally back above $2,000 to exchange hands at $2,027.
SUI meme coins are gaining major traction as the SUI ecosystem continues to strengthen. SUI DEX volume has surged to $3.8 billion over the past seven days, up 74%, making it the fifth-largest chain by decentralized trading volume and surpassing Arbitrum.
As interest in SUI grows, top meme coins like Sonic Snipe Bot (SONIC), LOFI, MEMEFI, MIU, and Fud the Pug (FUD) are showing a mix of strong momentum and key technical tests. The next few days could be crucial in deciding which tokens emerge as leaders in the fast-growing SUI meme coin space.
Sonic Snipe Bot (SONIC)
Sonic Snipe Bot is an automated trading tool built for lightning-fast trade executions. It is fully integrated into the Telegram application and stands out by offering support for 31 blockchain networks, including Sui, Ton, Injective, Solana, and Tron.
Sonic Snipe Bot also supports all major bonding curves, such as Movepump on Sui, making it a flexible and powerful option for traders looking to operate across multiple ecosystems without leaving Telegram.
Over the past seven days, SONIC, the native token tied to the bot, has surged by 27%, pushing its market cap to approximately $1.7 million. If positive momentum continues, SONIC could rise above the $0.40 mark and potentially challenge the $0.426 level.
However, if the trend reverses and selling pressure builds, the token could fall back toward $0.29, and in a stronger downtrend, even $0.24 could be tested.
LOFI
LOFI is one of the biggest meme coins on the SUI blockchain, built around the theme of a Yeti character. Despite its strong brand and visibility, LOFI stands out for a less positive reason this week—it is the only token among the top 10 SUI meme coins that is down over the past seven days.
This relative underperformance could indicate weakening investor interest compared to its peers, or it could present a potential rebound opportunity if sentiment around SUI meme coins remains strong overall.
LOFI continues its push to become one of the most recognized meme projects on the SUI blockchain. If momentum recovers, LOFI could rise above the $0.045 mark and potentially challenge $0.054 in an extended rally.
However, the $0.030 support level remains critical. A break below this zone could trigger a steeper decline toward $0.0158, and if selling pressure accelerates, even $0.0055 could be tested.
MemeFi (MEMEFI)
MEMEFI is a Telegram-based game and Web3 meme universe that claims to have more than 50 million players worldwide. It has quickly climbed the ranks and is now the second-largest SUI meme coin by market cap, currently at $35 million.
This marks a sharp pullback from its peak of $51 million reached just yesterday, reflecting the recent correction underway.
Despite the decline, MEMEFI is still up an impressive 353% over the past seven days.
If MEMEFI can regain its bullish momentum, it could first aim to break above the resistance at $0.0037. A successful breakout would open the path toward $0.0053, potentially extending its rally.
However, if the ongoing correction deepens, the first major support to watch is at $0.0026. A break below that could push the price further to $0.00185; if selling pressure intensifies, even $0.00143 could come into play.
MIU
MIU is currently the biggest meme coin on the SUI network, boasting a market cap of $68 million. Its price has climbed 16.7% over the past seven days, reinforcing its leadership position within the growing SUI meme coin ecosystem.
MIU is by far the largest meme coin in this space, with no close competitors matching its size or visibility. As the broader SUI ecosystem gains momentum and attracts more attention, MIU could continue to benefit from the overall surge in interest.
As the dominant player, it stands in a strong position to ride the next wave of growth if the trend across SUI meme coins remains positive.
If the positive momentum around MIU continues, the token could rise to test the $0.000000080 level, marking a new short-term target.
However, if the trend weakens and selling pressure emerges, MIU could first fall toward support at $0.0000000689. A deeper correction could even push the price down to $0.0000000599.
Fud the Pug (FUD)
This one is another meme coin aiming to carve out a leading spot in the growing SUI meme coin ecosystem. FUD currently holds a market cap of $3.8 million, down from its peak of $5.9 million just two days ago.
Despite a nearly 5% drop over the last 24 hours, FUD remains up an impressive 41% over the past seven days, highlighting strong underlying momentum.
Technically, FUD recently tested the support level at $0.0000000634. If this level is tested again and fails to hold, the next downside target would be around $0.000000050.
On the upside, if the current pullback stabilizes and momentum returns, FUD could rise to challenge resistance at $0.000000075. A breakout above that could pave the way for a push toward $0.00000010.
With dog-based meme coins often attracting outsized attention and hype, FUD could have a strong chance to expand its market presence if broader interest in SUI meme coins continues to grow.
Pi Network is planning to unlock 188 million tokens in March, making them accessible to over 1 million users. This is a substantially larger user pool than most months. Yet, it may not increase selling pressure as demand for PI continues to surge.
However, the project’s community is also acting aggressively over social media, review-bombing Binance for its perceived listing delays. A Binance community vote overwhelmingly supports Pi, but the listing hasn’t gone live yet, prompting intense backlash.
Pi Network Prepares for Big Unlock
Pi Network is one of the most hyped crypto projects in recent times. Since its mainnet launch on February 20, PI surged nearly 100%, hitting a peak of $2.99 before seeing corrections. At the same time, it’s gaining recognition from the wider community despite earlier criticism.
CoinMarketCap’s community sentiment shows that 91% of its users are bullish on Pi, as the firm is planning to unlock 188 million tokens to over 1.1 million users this month.
ExplorePi data shows that there are currently more than 11.5 million Pioneer accounts. However, 7.25 million (63%) accounts lock PI for three years, and 1.6 million accounts (14%) lock PI for one year.
Therefore, the selling pressure on Pi Network may not take effect immediately, even with this massive user pool.
Nonetheless, Pi Network is also ruffling more than a few feathers. Recently, Binance hosted a community vote on whether or not to list PI tokens, and its users were overwhelmingly in favor.
Despite the votes, Binance is yet to list PI, and several users are not taking this lightly. Pi fans have review-bombed its Google reviews. Without directly mentioning the project, the exchange responded to these comments:
“Before listing cryptocurrencies, Binance will check and consider many factors including liquidity and trading volume in the market,” Binance claimed. Although the exchange didn’t directly reference Pi Network, it commented on several Pi-centric 1 star ratings on Play Store.
Many (but not all) of these reviews and responses took place on Asia-based servers, where the project is the most popular. Recently, the Vietnamese government issued a warning about Pi Network, and Bybit CEO Ben Zhou reminded his users that China issued similar warnings years prior.
Regardless, Pi Network seems to have a huge community of enthusiastic supporters. Although some of its fans are getting a reputation for their hostility and defensiveness on social media, the project remains resilient to the current market conditions.
