Reviewed by
Reviewed by
Renuka Tahelyani
Updated 19:50 IST
March 11, 2026
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Akash Network [AKT] rallied by double digits in the past 24 hours, recording more than 14% as the daily trading volume jumped by 238%. This indicated intense buying pressure, which resulted in pushing the prices higher.
The rally follows a spike in social sentiment following their recent BME (Burn and Mint Equilibrium) proposal, which aimed to tighten supply by reducing the total number of tokens in circulation.
Will AKT continue rallying after the switch, and have the new supply dynamics changed anything in this regard?
Akash among top rebounding altcoins
Akash Network was among the top altcoins that rebounded strongly after Bitcoin [BTC] briefly reclaimed $71,000.
The altcoin was third behind Flow Network [FLOW] and Bitcoin SV [BSV], which recorded 38% and 16%, respectively. This showed that altcoins were generally rebounding after a period of weakness that began toward the tail end of 2025.
While Akash Network’s trend has followed the BME proposal, the technical outlook has similarly shown strength.
AKT breaks above a multi-month wedge pattern
The daily chart showed that AKT broke above a multi-month wedge consolidation pattern. The pattern formed in May 2025 when most altcoins rallied but AKT moved sideways.
At the time of writing, buyers appeared dominant. The Bull Bear Power indicator turned positive, with a reading of 0.144. That value exceeded levels recorded during the brief uptrend seen in early 2026.
Even three days after the BME proposal surfaced, social sentiment continued rising. Sentiment readings reached 82%.
Community sentiment stood even higher. CoinMarketCap data showed 91% bullish votes from participants.
If the breakout is sustained, AKT price may trend toward the top of the wedge at the $2 level. However, the most likely target sat at $1, but only if the $0.60 zone is obliterated. Still, that did guarantee uptrend continuation.
AKT supply tokens trend declining
The supply dynamics were also improving with the BME proposal voting ending on the 14th of March.
The data from Mintscan showed that the token supply trend had declined from 3.696 million AKT to 3.562 million tokens in just a week. This indicated supply was tightening, which is bullish if the current AKT demand continues.
Additionally, the crowd was jazzed about the full network upgrade that was coming late this month on the 23rd of March. This was putting Akash Network among trending tokens by social buzz on LunarCrush.
Final Summary
- AKT price surged 14% as supply tightened amid the ongoing BME proposal.
- AKT price was eyeing to reclaim $1, though bears at $0.60 could make this difficult.
Lennox Gitonga is a Financial Market and On-Chain Analyst at AMBCrypto with a Bachelor of Commerce in Finance. As a former equities trader, he applies traditional market rigor to crypto, delivering clear technical and on-chain analysis that explains price action, liquidity, and network behavior driving digital asset trends.
