AXS jumps as Axie updates and whale buys fuel 12%+ gaming-token rally
AXS climbed more than 12% to roughly $2.54 on 26 January 2026 after dipping to about $2.00 over the weekend, outpacing most gaming tokens. The move followed ecosystem developments and concentrated whale accumulation: analysts on X highlighted the shutdown of SLP inflation and the launch of bAXS (a non-transferrable reward/reputation layer) as catalysts. On-chain signals were mixed — notable whale deposits and withdrawals were observed alongside elevated daily transactions — while holder counts showed signs of short-term profit-taking in earlier reporting. Technicals point to resistance near $2.90–$3.00 and $5.10, with supports at $1.86 and $1.20; momentum indicators (MACD, RSI) currently show selling pressure, so continuation hinges on macro conditions, further ecosystem adoption, and whether whales keep accumulating or take profits. Smaller gaming tokens such as WEMIX and RON also gained (roughly +5–6%), while larger gaming names like The Sandbox, Gala, Decentraland and Immutable were mostly flat. Traders should watch AXS whale activity, upcoming Axie updates, Bitcoin and macro drivers (e.g., gold/silver strength) to gauge whether AXS can sustain the breakout or see a pullback.
Bullish
The combined reports point to a bullish near-term outlook for AXS. Price strength (12%+ rally to ~$2.54) backed by ecosystem catalysts — SLP inflation shutdown and bAXS launch — and concentrated whale accumulation are constructive for further upside. On-chain metrics show elevated activity and notable whale flows, which support liquidity and demand. However, technicals reveal immediate resistance at $2.90–$3.00 and momentum indicators (MACD, RSI) showing selling pressure; earlier data also recorded a modest decline in holder counts consistent with profit-taking. Therefore, in the short term AXS is likely to remain bullish if whales continue accumulating and upcoming Axie updates drive user adoption or utility. Failure to clear near-term resistance, renewed profit-taking, or negative macro shocks (BTC weakness, risk-off flows) could trigger a pullback toward support levels ($1.86–$1.20). For traders: watch whale transfers/deposits/withdrawals, on-chain activity changes, the ability to close and hold above $3.00, and macro drivers to confirm sustained upside versus a short-lived bounce.