Can Maker break $1,450 hurdle as whales launch buying spree?
Maker holds steadily above $1,250 support as a whale scoops $1.21 million worth of MKR. Addresses with a 100k to 1 million MKR balance now account for 24.27% of Maker’s total supply. Maker battles a bear flag pattern as bulls gather for an epic weekend move. Maker (MKR) is back above $1,300 on Friday after extending its lower leg to $1,231 the previous day. MKR’s rebound has erased the drawdown that followed United States (US) President Donald Trump’s ‘Liberaton Day’ tariffs on Wednesday, which targeted 100 countries. While major cryptocurrencies including Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) experienced a surge in exchange inflows, limiting recovery momentum, large volume holders have turned to Maker, increasing exposure on the token and paving the way for a 2.5% increase in the last 24 hours to trade at $1,326 at the time of writing on Friday. Maker rebounds amid soaring whale activity Maker bulls have launched an offensive backed by a sudden increase in whale activity. According to Spot On Chain, an AI-deriven platform tracking crypto transactions, an investor purchased 953.3 MKR tokens worth $1.21 million. This whale also bought 230,500 PENDLE worth $707,000 while placing orders to buy 42,900 HYPE at $11.25 and $11.49 worth $488,000. Maker saw an immediate impact, seeking entry into a recently broken bear flag. Santiment’s Supply Distribution indicator validates Spot On Chain data, showcasing a consistent increase in the balance of addresses with at least 100,000 to 1 million coins. These whale addresses currently account for 24.27% of Maker’s total supply. If this trend continues, MKR could confirm support at $1,320 and validate an extended move to $1,450. Maker supply distribution | Source: Santiment Maker’s short-term technical structure is largely bullish due to support at $1,230, its position above the 50 Exponential Moving Average (EMA), and the 100-day EMA in the 12-hour chart below. The Relative Strength Index (RSI) has recovered to above 50, reinforcing the bullish grip on MKR. However, traders may want to see the cryptocurrency reclaim its position in the bear flag pattern before increasing exposure to avoid sudden pullback. According to the weekly CryptoQuant report, the crypto market could face volatility as global markets digest Trump’s sweeping reciprocal tariffs, especially with exchange deposits increasing. Historically, rising exchange inflows signal that investors are ready to sell. The Moving Average Convergence Divergence (MACD) indicator is worth watching for traders who need another confirmation of the uptrend. Such a signal will follow the MACD line (blue in the chart) and cross above the signal line (red). MKR/USDT 12-hour chart Maker’s recovery to $1,450 could hit a snag if the Network Growth on-chain indicator sustains the drop from 2,297 newly created addresses on February 21 to only 58 on Thursday. Maker Network Growth | Source: Santiment Santiment outlines that a persistent dip in the Network Growth metric signifies low adoption. This also reduces demand for the token, hence Maker’s drop in price as the metric falls. Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. 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