MrBeast’s $1M Aster Purchase Fuels Bull vs Bear Debate
Aster token has soared 6,000% since its launch on September 17, backed by Yzi Labs and former Binance CEO Changpeng Zhao. However, ASTER retraced over 28% after hitting an all-time high. According to Lookonchain data, MrBeast bought 538,384 ASTER tokens for $990,000 across two wallets, averaging an entry price of $1.87. This $1M Aster purchase has divided traders: some view the celebrity endorsement as bullish for Aster’s visibility and liquidity, while others warn it may signal a market top. ASTER trades around $1.84, holding the $1.80–$1.85 support zone at the 50 EMA. Immediate resistance sits at $1.95–$2.00 near the 200 EMA. Trading volume spiked during sell-offs but is now shrinking, suggesting bearish momentum may be easing. A decisive break above $2.00 could prompt a rebound to $2.20. Failure to hold $1.80 risks a deeper correction toward $1.60.
Bullish
MrBeast’s $1M Aster purchase signals growing celebrity and institutional interest, likely attracting new investors and boosting liquidity. High-profile endorsements have historically driven short-term rallies (e.g., Elon Musk on Dogecoin). In the immediate term, this move may stabilize ASTER around its $1.80–$1.85 support zone and fuel a rebound past $2.00. However, celebrity-driven surges can also mark speculative peaks and lead to profit-taking once hype fades. Long-term sustainability will depend on real adoption, protocol development, and consistent trading volume beyond headline buys. Overall, the endorsement leans bullish by raising visibility and confidence, but traders should remain cautious of potential overextension.