Uniswap’s (UNI) Price Surge During Community Proposal Voting

The price of Uniswap (UNI) has risen 7% since the community began voting on a proposal to implement protocol fees across all Uniswap v3 pools and turn on the fee switch for Uniswap v2. Whale investors appear to be accumulating the cryptocurrency in anticipation of a price rally. On-chain data shows that crypto whales holding 100,000 to 1 million UNI tokens have added another 2.48 million tokens to their wallets between May 15 and May 18. UNI’s weighted sentiment has improved significantly in the past week, moving from the negative zone to trending neutral. IntoTheBlock’s Global In/Out of Money (GIOM) data suggests that the Uniswap price could reach $6 if it clears the initial resistance at $5.4. However, if UNI retraces unexpectedly below $5.15, the bullish Uniswap price prediction could be invalidated and trigger a larger drop toward $4.5.

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