Spark (SPK) Crypto Price Surge at Risk of Crash Despite Whale Accumulation

SPK is the native token of the decentralized finance (DeFi) platform Spark. It is said that this token has skyrocketed by 100% in the last seven days, and as a result, the Spark crypto price is now 17% from reclaiming the all-time high. The SPK token soared to a high of $0.1017, with a market cap of over $97 million. This surge was noticed when its volume crossed the $1 billion milestone. Since Spark Crypto price formed an overbought level, it is highly likely that there is a risk of the token price crashing soon to $0.066 and then resuming the uptrend. This article will provide a detailed discussion of this matter, so keep reading to learn more. 

Spark Crypto Price Predictions and its Chances of Crashing, Regardless of Whale Buying

The Spark Crypto witnessed a decline despite being listed on major crypto exchanges, including Coinbase, Binance, Bitget, Bybit, and OKX. The SPK token had soared to a high of $0.1017, with a market cap of over $97 million. The on-chain data showed that the Spark price soared and that the whales have continued to accumulate the token. It should be noted that these whales jumped by around 57% from June 23 to 10.28 million, and they held over 6.28 million tokens on June 28. 

While all this was going on, some money investors made a smart move and continued to add their assets this month. Sources say they hold over 56,300 SPK tokens, up from 16,000 last month, which indicates that they are expecting the token to keep rising. Many kept buying this token mainly because Spark has a fully diluted valuation of $925 million, which is said to be lower than the comparable tokens, such as Uniswap and Aave. However, the volume of SPK tokens on exchanges has dropped to 368.37 million, which is down from last month’s high of 597 million. This failing exchange balance indicates that the investors are moving their tokens into self-custody to avoid any potential risks. 

SPK, the native token of the DeFi platform Spark, has skyrocketed by 100% in the last seven days, and on the daily chart, it is observed that Spark’s price broke out after bulls successfully pushed it above a symmetrical triangle.  Several analysis indicates that the SPK price has staged a strong bull run this month, moving from a low of $0.029 in July to $0.1017. The overall Spark Crypto price has formed an overbought level, so there is a risk that the token price will crash soon to $0.066 and then resume the uptrend. 

It is noted that SPK formed a series of lower highs between June 29 and July 18, which happened to outline the upper trendline of the triangle. However, the lower trendline was drawn from a sequence of higher lows and converged with the resistance. This resulted in a tight price squeeze, which caused SPK to break through the triangle’s upper boundary. Thus, it surpassed the resistance at $0.044 while maintaining support at $0.029. 

As for why the Spark (SPK) price is surging and why the market capitalization doubled from around $30 million to over $62 million, it seems to be because of the project’s airdrop. From the official announcement, it is clear that users must stake their Ignition airdrop by July 29, 2025, and maintain it until August 12, 2025, to get rewards. Once the staking period ends and tokens are distributed, there is are chance that some recipients might sell them. This could eventually create selling pressure and possibly lower the price in the short term after August 12. Note that before making any investment decision, go through its potential risks thoroughly. Also, properly analyze personal risk tolerance, portfolio diversification, and investment goals. 

At the time of writing this article, Spark (SPK) is trading at around $0.1156 with a 251.27% increase in 24 hours.