Orca DEX token falls 5.8% in a steady Sunday slide

Orca DEX token falls 5.8% in a steady Sunday slide near its low

Orca DEX ($ORCA) traded at $1.72 at 7:40 p.m. ET on Sunday, down 5.8% in 24 hours and near the bottom of its daily range.

The quick take

Price: $1.72, -5.8% ↓ in 24 hours (CoinGecko, 23:40 UTC)
Trigger: A slow slide since Saturday night, with no new Orca announcement behind it
Watch: The 24-hour low of $1.71, just under the current price

The Orca DEX token falls into Sunday evening with a 5.8% loss over 24 hours. Orca DEX ($ORCA) traded at $1.72 at 7:40 p.m. ET, according to CoinGecko. Jupiter’s price feed showed the same level, a gap of just 0.3%.

What happened

The token’s 24-hour range on CoinGecko ran from $1.71 to $1.83. That leaves $ORCA trading close to the bottom of the day. Its market value stood near $104.5 million, with $8.9 million in 24-hour trading volume.

Why it moved

The drop came slowly, not in one sharp break. On Binance’s ORCA/USDT pair, the hourly close peaked at $1.83 at 8 p.m. ET on Saturday. It then slipped in most hours and stood at $1.72 by Sunday evening.

We found no new announcement from Orca in the past day, so the cause is not confirmed. The wider market was softer but calmer. Solana ($SOL) slipped 0.9% to $101.38 on CoinGecko, and Bitcoin ($BTC) lost 0.6%, per LiveCoinWatch.

Who’s buying and selling

Trade counts leaned toward buyers. The largest $ORCA pool, paired with $SOL on Orca, logged 1,797 buys and 1,125 sells in 24 hours, per DexScreener. Counts do not show trade size, so many small buys can still lose out to fewer, larger sales.

The exchange itself held up. DefiLlama showed $301.1 million locked in Orca DEX at 23:41 UTC, up 0.3% in a day. Its latest 24-hour trading volume reading was $123.0 million, fourth among Solana DEXs.

What to watch next

The first level is the 24-hour low of $1.71, just under the current price. Also watch whether deposits on Orca DEX keep rising while its token slides. For scale, $ORCA sits about 92% below its record high of $20.33, set on Oct. 2, 2021, per CoinGecko.

Bottom line: $ORCA lost 5.8% in a slow slide with no fresh news, while deposits on Orca DEX held near $301 million.

Price data: CoinGecko (cross-checked with Jupiter).