Orbs hit $0.010, and traders immediately started shorting it. On February 27th, the orbs price spike in Orbs liquidated short positions. Short sellers took a $99,000 hit in just four hours, and by the end of the day, their losses had climbed to $111,000.
The orbs coin's price shot up 59% in two weeks, mostly because big investors were buying up a bunch of tokens before the orbs price went up. Big investors changed their investments before the orbs price increase, buying when prices were low.
Now, Orbs is at a tricky point. If the RSI goes above 73, the asset is probably overbought right now. But, the way things have been going, it seems like the price could still go higher.
How the Short Squeeze Started: Breaking $0.010
ORBS is currently trading at $0.01054, a large drop from its previous high of $0.3604. It had a hard time staying above $0.010 for weeks, something it hadn't seen since the end of 2024. It looked like things were going downhill.
ORBS jumped 48% on February 27, hitting its biggest one-day increase ever. That token briefly hit $0.010 and then almost reached $0.01541 before dropping back a bit. Short sellers took a hit as the token's price suddenly surged. CoinGabbar saw $99,000 in liquidations in the initial four hours, and by the end of the day, that number had reached $111,000. ORBS has a market cap of $54.8 million, so those liquidations made up a large part of the day's trading. Short sellers hurried to close out their positions and reduce losses. This made the price jump even higher, adding buying interest that pushed the token's price up. ORBS trading got a boost, hitting its highest volume in months as the price went up. The big question now: is this just a temporary craze, or is there something real driving this change?
What Whales Were Doing While Bears Piled In
Big players started grabbing ORBS tokens before the price went up, and it was easy to spot.
MEXC's data shows that big wallets bought a lot of ORBS in mid-February, when the price was below one cent. Smart traders notice when people buy a stock when not many shares are changing hands. This often means the stock price will soon jump. The sudden jump in trading volume surprised traders on multiple exchanges.
Big investors likely had a reason to buy.
The protocol started with 10 billion ORBS tokens, but only around 5 billion are being used right now. Token unlocks aren't likely to cause huge price drops since the entire supply is already out there. Since there aren't any big token releases planned, whales don't have to worry much about insiders selling off tokens and crashing the price. Plus, the AscendEX partnership that was shared on February 13 gave another way to buy and sell. The ORBS/KRW pair on Upbit is the most active, trading $9.3 million worth each day. The focus on Korean investors says something.
Then Came the 59% Rally, and the Worldcoin Mix-Up
Orbs saw a strong surge, jumping almost 60% from mid-February to March 1. ORBS went above $0.009905 on February 18 and kept climbing quickly afterward. Ten days later, it was over $0.011967, eventually hitting a high of about $0.01541.
So, what happened? This January, Orbs launched Perpetual Hub Ultra on Sei and Monad, expanding the protocol's reach in the DeFi space. SpookySwap and THENA teamed up, pushing transaction volumes beyond $2.2 billion as more and more users joined in. Plus, getting listed on AscendEX helped get the word out.
A lot of investors didn't get what the Worldcoin Orb was really for. On February 27, MEDIROM said they were putting in almost 3,000 Orb authentication terminals in Japan (related to Sam Altman's Tools for Humanity), and it seems like some investors jumped on the wrong bandwagon. Even though the Orbs network and Worldcoin's Orb hardware have nothing to do with each other, some traders didn't seem to notice.
The 30-day return is sitting at 27.32%, and the 24-hour volume recently hit $27.1 million, which is solid for a token of this size. The token dropped 8.05% from its peak as people started taking profits. Now everyone's wondering: Will it keep going up, or is the party over?
So Is This Overbought, or Is There Room Left?
CoinLore's info says Orbs coin looks good, based on 23 technical indicators. The RSI is currently at 73.57, which is above 70. This typically signals strong buying pressure has pushed the asset's price higher recently. If you're all about riding the wave, watch out.
Being overbought doesn't mean the price will drop right away. It just shows there's been a lot of buying lately. The RSI can stay high for a while as the price keeps going up.
when things are really taking off
AltsDaddy predicts Orbs will hit $0.01924 soon. That's a big leap, about 47.2%, from where the token stood on March 1 at $0.01307. If that happens, the RSI might just stay high all month.
Now, here's the thing: Orbs didn't grow as much as other similar cryptocurrencies this last week. Orbs saw a 12.5% increase this week, but similar blockchain networks did even better, averaging a 19% gain. So, the market might be growing even faster.
Orbs did better than most cryptocurrencies this week, beating the market's 4.6% rise while many other tokens didn't keep up. Still, it seems not so strong compared to those in the same category. The recent price increase seems more like a temporary recovery from a drop than a real trend reversal, especially considering the price fell 35% in the last three months.
Where the Volume Really Came From: Korea's Role
On March 1, trading volume jumped 15% to $101.44 million as activity increased during the trading session. The trading volume almost doubled the token's market cap of $54.8 million. The volume-to-cap ratio shows traders are switching positions instead of holding them for the long haul. ORBS/KRW trading on Upbit hit $9.3 million today, mostly thanks to South Korean traders. Korean retail traders usually cause altcoin rallies. But if trading volume is mostly on one exchange, the gains don't usually spread, and that makes you wonder how long they'll last.
Other small-cap tokens show a similar trend, WAXP and Memecore saw big jumps in trading volume, and DOLA stablecoin is getting DeFi traders interested. Orbs isn't alone here. WAXP and Memecore, two less talked about tokens, both saw their prices go up today. This suggests that the overall positive trend is due to a combination of things, not just one cause.
The Orbs network's Layer-3 kept its price steady, even when most crypto markets were shaky and other tokens lost value. The dTWAP and dLIMIT protocols are like decentralized options for centralized exchange order types. That's really helpful. Does it make the price go up this fast? That's a totally different question.
What's telling is what happens when the Worldcoin mix-up is over. Big investors kept buying ORBS tokens because DeFi is still popular. The short squeeze pushed out individual investors who couldn't handle the fast price swings. Even with the recent price increase, ORBS's RSI suggests it might be overbought. It's still 97% lower than its highest price ever, though. The bears lost this time. The bulls who think it's just going to keep heading up might be next.