Kaspa’s KAS Reaches New All-Time High, Remains Highly Bullish: Analysts Set Sights on These New Targets

The price of Kaspa’s native token KAS has seen significant gains recently, reaching a new all-time high of $0.16 according to CoinMarketCap. Despite the new highs, analysts remain extremely bullish on KAS and have set their sights on even higher price targets.

KASPA Enthusiast Eyes 20 Cents

According to Kaspa enthusiast @KASPAEnthusiast, KAS is up over 19% in the last 24 hours. With the chart still looking very bullish, they believe KAS could soon hit 20 cents.

This would represent a nearly 30% gain from the current all-time high. The enthusiasm is driven by strong fundamentals and increasing development activity on the Kaspa network.

Institutions Possibly Accumulating KAS

Other analysts like @Vivek4469 believe recent large volume spikes seen in KAS are indicative of institutional buying. One anonymous whale purchase of 22 million KAS in just one hour seems to support this thesis.

Institutional accumulation often signals long-term confidence in an asset. If true, it means KAS likely won’t see major retracements following this buying activity.

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$0.35 Target As Volumes Explode

With this assumed institutional demand, some like @Vivek4469 now eye an impending target of $0.35 for KAS. This would constitute a 110% gain from current levels.

When KAS reached its previous all-time high, daily trading volumes were around $280 million. With current volumes sitting at only $110 million in the latest breakout, there remains substantial room for growth as interest and activity pick up.

The confluence of technical and on-chain signals point to further upside for KAS price action despite the recent parabolic move. Analysts and investors alike are bracing for a continued bull run towards $0.20 and $0.35 in the near-term.

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Temitope Olatunji
Temitope Olatunji

Temitope is a seasoned writer with over four years of experience. He specializes in Web3 and FinTech topics and enjoys creating content in these areas. He holds both a bachelor's and master's degree in Linguistics. When not writing, he trades forex and plays video games.