- Orca token surged 175% after a surprise listing on South Korea’s Upbit exchange.
- Traders flagged overbought signals, with RSI hitting 77 even after the price cooled to $3.31.
- Orca’s DEX ranks 10th on Solana by TVL, but some remain cautious about its long-term value.
Crypto markets took a bit of a hit today, with Bitcoin slipping down to $83,000—a modest pullback that rippled across a bunch of altcoins. But not all tokens got dragged down. One, in particular, flipped the script: Orca, the native token of a Solana-based decentralized exchange, surged like crazy.
Orca’s Wild Ride
On Friday, March 21, Orca made serious waves. The token spiked 175%, hitting a high of $5.17 before cooling off and settling around $3.31. That jump pushed it up to 195th place among all crypto assets and gave it a market cap of $181.63 million.
Why the sudden surge? A lot of it seems tied to a new exchange listing. Upbit, one of South Korea’s top crypto exchanges, announced it was adding KRW, BTC, and USDT trading pairs for Orca. That move opened the door to a whole new crowd of traders—and it showed.
Community Buzz and Overbought Warnings
The crypto crowd noticed, fast. On X (formerly Twitter), traders lit up with chatter, questioning how one listing could cause such a spike. One user pointed out how powerful Upbit is for retail volume, especially given South Korea’s crypto-hungry audience.
But not everyone was celebrating. Some analysts flagged that Orca was way overbought, with its RSI hitting 77—a level that usually signals “cool it.” Even after dropping from the peak, the token’s still on shaky technical ground.
Next Moves: Breakout or Breakdown?
Right now, Orca looks like it’s entering a consolidation phase. The next big test? Resistance at around $3.30. If it can break through that, we might see it pushing back toward the $5 range. On the flip side, the 20-week EMA at $3.17 could act as short-term support if things cool off.
Long-Term Outlook: Hype vs. Fundamentals
Traders are split on what’s next. Orca’s DEX is ranked #10 on Solana by total value locked (TVL), sitting at about $243 million, so it’s got some real traction—especially with memecoin trading making a comeback. But some folks are skeptical. The token’s rapid rise has people nervous about buying in at inflated levels.
For now, all eyes are on Orca. It’s got momentum, but whether that turns into a lasting rally—or just another flash in the pan—remains to be seen.
