A whale scooped up 16 million CASHCAT tokens in the past 24 hours, sending the price of the meme-inspired cryptocurrency up 22% to $0.088. The move also pushed open interest 20% higher and flipped the funding rate positive — a combination traders often read as a green light for further gains.
Whale activity and price action
On-chain data shows a single large wallet — commonly referred to as a whale — purchased 16 million CASHCAT tokens during the surge. The buy order hit the market as the token was already climbing, and the whale’s appetite didn’t cool off. By the end of the day, CASHCAT was trading at $0.088, up from around $0.072 the previous day.
The 22% jump is the token’s biggest single-day move in weeks. Volume spiked alongside the price, though the exact dollar amount of the whale’s purchase was not disclosed.
Open interest and funding rate signal bullish tilt
Open interest — the total value of outstanding futures contracts — rose 20% during the same period, suggesting new money flowing into the market rather than just existing positions being shuffled. The funding rate, a periodic payment between long and short traders, turned positive. A positive funding rate means longs are paying shorts, a sign that bullish traders are willing to pay a premium to keep their positions open.
Analysts tracking the token’s derivatives data said the combination of rising open interest and a positive funding rate often precedes continued upward momentum. They pointed to a potential target of $0.108, roughly 23% above the current price.
What’s next for CASHCAT
The whale’s next move is the big unknown. If the wallet holds or adds to its position, the token could test the $0.10 psychological level. A sell-off from the same address, however, could erase the gains just as quickly. The funding rate, while positive, is not yet at extreme levels that would signal an overcrowded long trade.
For now, the market is watching the whale’s wallet and the $0.088 support level. A break above $0.09 with volume would put $0.108 in play. A drop below $0.08 would likely trigger stop-losses and send the token back toward its pre-surge range.
