Price Analysis View Non-AMP

OKB Price Surges 129% in a Day, Is a Drop to $103 Imminent?

Published by
Shrishesh Tanksalkar

OKB has stunned the crypto market with one of its sharpest rallies to date. The token soared 129.9% in just 24 hours, to mark its foot at a new all-time high of $139.76. However, it has now cooled to around $107.30. The bulls have managed to push its market cap to $6.43 billion and driving 24-hour trading volume to $1.41 billion, which is an unprecedented surge of 15,764%. 

It is worth noting that, while momentum is undeniably strong, technical indicators point to the possibility of near-term volatility. Wondering what led to the price surge, and how far could OKB price go? Then this analysis is a must-read for you.

Why is OKB Price Surging?

1. Major Token Burn Creating Supply Shock
OKX has burned 65.26 million OKB, over 52% of the circulating supply, thereby permanently capping total supply at 21 million. This aggressive reduction has created immediate scarcity, aligning OKB with Bitcoin’s deflationary narrative and attracting investors seeking “digital scarcity.”

2. X Layer Blockchain Upgrade
The Ethereum-compatible X Layer blockchain now supports 5,000 transactions per second with near-zero fees. As OKB serves as its gas token, the upgrade could boost organic demand. However, the phased shutdown of OKTChain, which aims at converting OKT to OKB introduces potential sell-side pressure from token migration.

OKB Price Analysis

On the 4-hour chart, I’ve shared, OKB price broke above the 23.6% Fibonacci retracement level at $117.26 but is now consolidating below it. The RSI-14 reading of 78 signals extremely overbought conditions.

The immediate support to watch lies at $103.35, which aligns with the 38.2% Fibonacci retracement. A decisive move below this level could open the door to a deeper pullback toward $90–$95. On the upside, a recovery above $117 would put $141.60 and $168.55 in focus as the next resistance zones. Short-term traders should monitor these technical levels closely, as rapid price swings are likely.

FAQs

1. Why did the OKB price surge so quickly?

The rally stems from a massive token burn reducing supply by 52% and the upgraded X Layer blockchain improving utility.

2. Is OKB overbought right now?

Yes. The RSI at 94.6 signals extreme overbought conditions, often followed by short-term corrections.

3. What price levels are critical to watch next for OKB?

$103.35 is the key support. A move above $117 could open a path to $141.60 and $168.55.

Shrishesh Tanksalkar

Shrishesh is a versatile writer with 2+ years of experience in cryptocurrencies. An engineer turned storyteller, this selective introvert is a wannabe biker on weekends.

Recent Posts

SOL Strategies Debuts in U.S. Market Via Planned Nasdaq Listing on September 9

SOL Strategies, a Canadian-based publicly traded company that is focused on accumulating Solana coins, has…

September 6, 2025

SEC Chair Paul Atkins Unveils Cross-Border Task Force to Combat Fraud

The chairman of the United States Securities and Exchange Commission (SEC) Paul Atkins, announced the…

September 6, 2025

Dogecoin And Shiba Inu Show Tired Price Action, While Layer Brett Gains Strong Community Support

Is the old guard of meme coins finally showing its age? As Bitcoin hovers, the…

September 5, 2025

Justin Sun To Purchase $10M In WLFI After a Controversial Wallet Freeze

Justin Sun, founder of Tron (TRX), has backed down in the feud against World Liberty…

September 5, 2025

XRP Price Prediction Targets $5 But Analysts Expect Remittix To Outperform With Explosive 30x Gains In Q4

The latest XRP Price Prediction foresees a potential trip to $5 as fresh hope for…

September 5, 2025

Solana And Cardano Trade Flat While Analysts Claim Layer Brett Could Trigger Explosive 30x Growth

While Solana and Cardano navigate a rather flat market, something new is igniting the crypto…

September 5, 2025