In this article, we will share our perspective through an analysis of on-chain signals and data. Readers are encouraged to reference and do their own research (DYOR).
Here is the team's analysis:
Top Holders consistently accumulating $UNIBOT
Source: https://t.me/icryptoai/
General trend: Accumulating 32.6k UNIBOT tokens worth approximately $1.79 million in the price range of $45 - 85 over the past 14 days.
However, to gain a better understanding of the behavior of the Top Holder group, we will examine the top 50 External Owned Accounts (EOA) with the highest exchange netflow in the past 30 days. DataFi will categorize them into three main groups based on the age of the wallets, including:
Early Investors: Wallets with an age > 70 days
FOMOers: Wallets with an age between 30 - 70 days
Newcomers: Wallets with an age < 30 days
UNIBOT: Balance change 30D and Wallet Age.
Team has observed the behavior of these groups over the past 30 days as follows:
Early Investors
Negative Wallet Group:
- Distributed 17k UNIBOT tokens (~46% of their balance) in the price range of $100-170 and currently hold 20k UNIBOT.
- However, the selling pressure from this group has been gradually decreasing as the UNIBOT price has moved into the range of $40-60.
Positive Wallet Group:
- Accumulated an additional 11.1k UNIBOT tokens (~21% of their balance) in the price range of $60-$120 during the price drop from August 30th to September 9th.
- Their balance now stands at 64k UNIBOT.
- However, there hasn't been significant bottom-fishing activity as the price has been ranging around $40-$60.
- Supply is decreasing, but demand remains muted. Early investors seem to be expecting UNIBOT's price to accumulate further or drop a bit more for them to Dollar-Cost Average (DCA).
FOMOers:
- The FOMOer group continues to accumulate by adding 29.3k UNIBOT tokens (~77% of their balance) in the price range of $60-$120 during the price drop from August 30th to September 9th.
- They currently hold 67k UNIBOT.
- FOMOers are showing DCA behavior by accumulating more when the price drops, even though they previously bought at higher prices in the range of $110 - $220.
Newcomers
Notably, the Newcomers group is the most aggressive accumulators of UNIBOT in the past 30 days, with a total inflow of 43.7k UNIBOT tokens (+290% Balance). This group continues to buy an additional 9.67k UNIBOT when the price is trading sideways in the range of $40 - $60.
Among the 13 Newcomer wallets, 5 wallets have assets exceeding $1 million, and 6 wallets have assets ranging from 100k to $1 million.
=> This indicates that the buying behavior of this group is noteworthy as they accumulate a significant amount of UNIBOT at low price levels and hold substantial assets.
Conclusion: TOP HOLDER - BULLISH
Selling pressure from Early Investors has significantly decreased, but demand from this group remains weak.
FOMOers continue to DCA UNIBOT.
Strong demand comes from the group of large asset holders - Newcomers.
Smart Money has been accumulating UNIBOT since September 2023.
Smart Money has been consistently accumulating UNIBOT in the price range of $50 - $100 since the beginning of September 2023. The Net Volume in the last 30 days stands at 7.8k UNIBOT (+14.3% of their balance). Their current balance is 62.48k UNIBOT.
CONCLUSION
Out of the 7.15k out of 8.85k ETH in UNIBOT revenue, which comes from Tax Fees, it is evident that Tax Fees are the primary source of income for the project. Therefore, Market Makers (MM) and the project will seek ways to increase the UNIBOT price to:
Stimulate traders to trade this token more, resulting in higher Tax Fee earnings.
Encourage users to buy UNIBOT to enjoy rewards, thereby increasing demand.
With positive On-chain signals such as the significant decrease in selling pressure from Early Investors, strong demand from the group of large asset holders - Newcomers, continuous accumulation of UNIBOT by Smart Money since the beginning of September 2023, and testing of support levels around the $30 - $60 range, we have already expected UNIBOT to experience a growth phase in the near future.
