The Maple Finance (SYRUP) token price is up 1.5% due to active engagement from smart money investors in recent dips.
Price Dynamics and SYRUP Token Purchases
The Maple Finance (SYRUP) token climbed to $0.5365, slightly above this week’s low of $0.4912. The token has surged over 520% from its lowest point this year, bringing its market capitalization to $638 million.
Interest from Large Investors
According to Nansen data, smart money investors have been accumulating SYRUP tokens, purchasing tokens worth $3.13 million over the past week. This made SYRUP the most bought token during this period. Additionally, the top 100 addresses have increased their holdings by 10%, totaling 1.07 billion tokens.
Technical Analysis of SYRUP Price
The daily chart shows that Maple Finance formed a double bottom at $0.089 in February and April. It broke above the neckline at $0.1930 in May and has moved above the 50-day moving average. The coin will likely continue rising as it targets the key resistance at $0.6575, about 22% above the current level.
The increase in the Maple Finance token price is driven by substantial purchases from large investors and positive market trends.
