Crypto Whales Accumulate $90 Million Worth of Polygon (MATIC): Analyst
Cryptocurrency analyst and trader Ali Martinez reports that deep-pocketed investors are purchasing significant amounts of Ethereum scaling solution Polygon (MATIC). According to Martinez, crypto whales have acquired a staggering 120 million MATIC over the past week, amounting to a $90 million investment.
As of now, MATIC is trading at $0.76, showing a slight increase in the last 24 hours.
Chainlink Sees Surge in Whale Transactions
Martinez also notes that top blockchain oracle provider Chainlink (LINK) is experiencing a surge in activity as whale transactions soar. He highlights that LINK witnessed its largest spike in whale transactions for the year, with over 2,600 transactions exceeding $100,000 each.
At present, Chainlink is trading at $14.38, reflecting a 1.6% decrease in the last 24 hours.
Dogecoin Poised for Potential Breakout
Martinez suggests that memecoin Dogecoin (DOGE) could experience a substantial breakout, potentially increasing by over 68% from its current value. He points out that DOGE faces a significant hurdle at $0.087 on the weekly chart, which is marked by the convergence of the 0.786 Fibonacci level and both the 100-week and 200-week EMAs. Breaking past this barrier could propel DOGE to nearly double its price, aiming for a target of $0.14.
Currently, Dogecoin is trading at $0.0830, showing a 3.1% increase in the last 24 hours.
Hot Take: Crypto Whales Bullish on MATIC, LINK, and DOGE
Crypto whales are making significant moves in the cryptocurrency market as they accumulate large amounts of Polygon (MATIC), Chainlink (LINK), and Dogecoin (DOGE). With $90 million worth of MATIC purchased by whales in the past week, along with a surge in whale transactions for LINK and a potential breakout for DOGE, these cryptocurrencies are attracting attention from investors.
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