Axie Infinity drops 12.3% but buyers stay active amid strong trading volume and shrinking exchange supply.

Axie Infinity (AXS) fell 12.3% to $1.03 after a sharp rally, as traders took profits near $1.25. Despite the price drop, trading volume surged 67.3% to $71.34 million, showing continued market interest. Spot market data indicates buyers remain dominant, and exchange-held AXS supply declined nearly 6%, suggesting tokens are moving to private wallets. The price is now retesting a key breakout level, with technical indicators still bullish. If buyers hold this support, AXS could attempt to rise toward $1.20 resistance again.