Smart money investors added $1.3 million in AERO this week, signaling strong accumulation despite the ongoing price dip.
Aerodrome’s trading volume surged to over $4 billion as activity on Base increased ahead of Coinbase’s TBA platform launch.
Whale investors increased their AERO holdings by 18% over the past month, reaching nearly 9.55 million tokens.
Aerodrome Finance’s native token, AERO, extended its losing streak, falling for the third day in a row. The token dropped by 1.5% to $0.8920, slipping from this week’s high of $0.98. Despite this pullback, AERO remains over 200% higher than its April low of $0.2850.
While the token’s price faces downward pressure, smart money investors and whales have steadily increased their exposure. Data from Nansen shows smart money wallets added $1.3 million worth of AERO in the past week. Their total holdings now exceed $16 million.
Whales, categorized by their large holdings, also ramped up their positions. Their total AERO holdings rose by 18% in the past 30 days, reaching 9.55 million tokens.
Trading Volume Rises Sharply on Base Ecosystem
Increased network activity has added further momentum to AERO. According to DeFi Llama, Aerodrome handled over $4 billion in trading volume this week. This marks a jump from $2.6 billion in the previous week, reinforcing its position as the largest decentralized exchange on Base.
Coinbase's recent announcement to roll out The Base App (TBA), a multi-functional platform replacing its wallet, is expected to further support Aerodrome’s integration. TBA will feature wallet, trading, messaging, and app services, with Aerodrome positioned as one of its main trading platforms.
Technical Analysis Suggests Bullish Momentum With Near-Term Risks
Technical indicators show continued bullish sentiment in AERO’s recent trend. The token remains above both its 50-day and 100-day Exponential Moving Averages. It is also trading within an ascending channel and above the 23.6% Fibonacci retracement level.
If upward momentum holds, the next key target could be the 50% retracement level at $1.3085, a potential 45% gain from current prices. However, a rising wedge pattern has emerged, which could point to a near-term decline if it breaks lower.
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