At this time, April 8, 2025, Sandbox (SAND) has recorded an 8.8% price acquire. Regardless of the bounce, the altcoin appears bearish and is prone to see a drop, probably due to a whale dumping SAND tokens.
Whale dumps 17.03 million SAND
At this time, crypto analyst Onchain Lens posted on X {that a} main whale, popularly often known as Hashed, deposited 17.03 million SAND value $4.1 million into Binance and is prone to put these tokens on sale.
This important influx means that whales are transferring their SAND tokens from their chilly wallets to exchanges, which is seen as a bearish signal. Moreover, this exhibits a possible promoting intention and hints at a possible downward motion within the coming days.
Information exhibits that this investor began investing in Sandbox again in 2019 when he gathered tokens value $2.5 million on Could 22. Presently, the whale nonetheless holds 25.55 million SAND value $6.16 million.
SAND price updates
At this time, Sandbox has recorded a powerful restoration following the extended price drops famous in current weeks. The asset’s price is at present standing at $0.2382, up 8.9% over the previous 24 hours. Its buying and selling quantity additionally registered a 35.80% enhance over the interval, indicating that traders and merchants are starting to show heightened curiosity in SAND. This signifies a chance of an upcoming breakout and a attainable uptrend.
Regardless of at present’s price rise, the asset has been in a downtrend for a number of weeks. Its price has been down 13.6% and 19.1% over the previous week and one month in the past, respectively. So, on this case, it’s fascinating to see whether or not Sandbox could make a breakout or proceed its ongoing downtrend.
As per metrics from Coinglass, SAND’s Open Curiosity (OI) surged by 5.64% over yesterday. This enhance in OI exhibits that merchants are creating new positions within the SAND market. This rise in curiosity and demand is prone to perform as a catalyst for a possible upturn motion.
Technical indicators present that SAND has damaged out of a falling wedge sample on the weekly timeframe. Presently, the token is sitting on the higher boundary of this sample setup as assist. Which means the token is experiencing rising shopping for exercise, which is prone to bolster its worth towards the resistance area of $0.266 and $0.292 quickly.
