On September 19, a hack rumor surrounding Banana Gun caused $BANANA to take a sharp dive, with its price plummeting by more than 10% in a short period.

In response, a group of Smart Dex Traders (SDTs) quickly offloaded approximately $800K worth of $BANANA to mitigate potential losses.

However, things began to turn around just a few days later. By September 23, SDTs resumed heavy buying, flooding the market with large volumes of buy orders, signaling renewed confidence in the token’s recovery.

In addition, some notable wallet activity highlighted SDTs’ strategic movements. Wallet 0x4fdb, for instance, saw a staggering profit of $569.5K (206.9%). Just yesterday, this trader added another 1.84K $BANANA to their holdings, totaling $88.1K, bringing their overall stash to 16.1K $BANANA (worth $723.8K).

Wallet Makes Notable Profits Of $583K From Trading $BANANA

Similarly, wallet 0x80aa made a hefty profit of $583.2K (82.52%), purchasing 1.3K $BANANA (valued at $60.9K) four days ago. This account now holds 10K $BANANA, with a value of $446.3K.

Wallet 0x306f also got in on the action, making a profit of $75.4K (147.87%) after buying 687.6 $BANANA ($29.5K) five days ago and moving it into wallet 0xa704 for safekeeping.

From a technical analysis perspective, $BANANA has recently broken through a crucial resistance level and is currently retesting it.

The price appears to be recovering but remains within the SDTs’ accumulation zone, presenting what many traders see as a good buying opportunity for those looking to enter the market at a favorable price point.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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