Assessing if ZORA crypto can reclaim its $0.148 ATH after pullback
Key Takeaways
ZORA crypto hit $0.148 before easing to $0.121, backed by record coin creation, rising retail activity, and negative Spot Netflow, suggesting strong accumulation trends.
Zora [ZORA] crypto rallied from $0.108 to a new all-time high of $0.148 before significantly retracing to $0.121 at press time.
Over the same period, market cap rose from $344 million to $478 million, while 24-hour volume grew 10% to $350 million.
Naturally, when both metrics rise together, it suggests higher capital inflows and increased network activity.
ZORA crypto’s on-chain activity sets fresh records
Zora’s recovery began four days ago, followed by on-chain activity hitting new peaks in the past 24 hours.
Since its addition to the Base App three weeks ago, creator participation has surged alongside easier retail access.
Source: Dune
In fact, Dune data showed that Daily Created Coins hit 62.4K, the highest recorded. Meanwhile, Unique Creators climbed to 27.8K, returning to July’s peak levels.
Such growth signals rising demand for the network, often a precursor to higher token valuations.
Retail demand joins the rally
Besides the developer’s side, retail users have also returned to the market.
As such, Trading Volume rose to $15.3 billion levels, last witnessed mid-July when volume reached $41 billion.
Source: Dune Analytics
Likewise, Total Daily Trade counts surged to 249.8K, a significant recovery from 97k trades recorded a week ago. Such an uptick in trading activity signals organic demand for the network and its native token.
Interestingly, when we examine exchange activity, we determine that these trade counts are mostly accumulating ones.
For starters, according to CoinGlass, Spot Netflow declined significantly, holding within negative territory for two consecutive days.
Source: CoinGlass
As of this writing, Spot Netflow was -$1.5 million, a slight drop from -$1.26 million the previous day.
Negative Netflow means outflows exceeded inflows, a sign of accumulation.
On top of that, Nansen showed Exchange Balance dropping 7.71% to 4.58 billion tokens, further confirming reduced supply on exchanges.
Technical signals favor buyers
According to AMBCrypto’s analysis, Zora rallied as demand for the memecoin and on-chain activity surged significantly.
For that reason, the memecoin’s Relative Strength Index (RSI) made a bullish crossover, hitting the overbought zone at 74 at press time.
Likewise, its Chaikin Money Flow (CMF) remained within the positive zone, and was hovering around 0.09, further confirming the buyer’s presence.
Source: TradingView
When these indicators align, buyers typically maintain control in demand-driven markets.
If buying pressure and activity persist, ZORA could reclaim $0.14 and target a fresh all-time high. However, fading momentum could send prices toward support at $0.08.