The Aerodrome Finance token, known as AERO, demonstrates market instability, having dropped in price for the third consecutive day despite ongoing purchases by investors.
Current Price and AERO Dynamics
Currently, the price of the AERO token stands at $0.8920, below this week's high of $0.98. Nevertheless, the token remains about 205% above its lowest point earlier this April.
Smart Money and Whale Activity
Third-party data shows smart money investors are continuing to accumulate AERO tokens. In the past week, they purchased tokens worth $1.3 million, increasing their total holdings to over $16 million. Similarly, whale investors have increased their holdings by 18% in the last 30 days, reaching 9.55 million tokens.
Technical Analysis and Forecasts
Technical analysis indicates that AERO's price has been in a bullish trend for the past three months. The token has moved above the 50-day and 100-day exponential moving averages, signaling bull control. However, there is a potential risk associated with the formation of a rising wedge pattern, which may lead to further downside in the near term.
Despite the current decline, interest from smart money and whale investors could promote further growth of the AERO token in the future.
