🔴 Render price recovers amid whale accumulation

Render, a decentralized graphics processing unit-based rendering solutions provider, is seeing a notable price recovery as large wallet addresses aggressively accumulate the native token.

The Render (#RENDER ) token ranks as one of the top artificial intelligence and decentralized finance cryptocurrencies by market cap. After its native token plummeted to $4.50 on Sept. 7, Render has shown significant resilience, reclaiming support above $6.00.

🔸 RENDER price ‘bottomed’

According to market intelligence and on-chain insights provider Santiment, Render is showing recovery buoyed by large address accumulation. This comes after the artificial intelligence token bottomed out near $4.60 on Sept. 18, with bears rejecting bulls’ attempt to push higher around $5.35 a week earlier.

Gains for Render have largely been muted, but the bullish shift amid whale accumulation has seen its price rise by more than 33% over the past week. This upside has coincided with a fresh spike in artificial intelligence-related tokens.

🔸 Whales bought the Render dip

Whales and sharks took advantage of recent pullbacks to buy low. For Render, this was a notable occurrence, as pointed out by Santiment analysts in an post on X.

On-chain data shows that these large holders possess at least 100,000 Render tokens. About 902 addresses hold 100,000 or more tokens, with large holders controlling 91% of the total supply.

In the past eleven weeks, these large wallets have accumulated over 20.5 million Render tokens, valued at more than $126.3 million. During this aggressive accumulation, whales and sharks added 3.7% of Render’s total supply to their holdings.

While the whales adopted a bullish stance on the altcoin, investor wallets appear to have sold off sharply. In the past month, investors dumped 21% of their holdings, which whales absorbed. Retail investors also purchased more tokens, adding 3.6% to their portfolios.