Cryptocurrency analyst and trader Ali Martinez says deep-pocketed investors are scooping up huge amounts of Ethereum (ETH) scaling solution Polygon (MATIC).
Martinez tells his 34,000 followers on the social media platform
“Polygon: MATIC whales have been on a buying spree lately, bringing in over 120 million MATIC in the last week – that’s a hefty $90 million investment!”
MATIC is trading at $0.76 at the time of writing, up slightly in the last 24 hours.
Then the trader notices that top blockchain oracle provider Chainlink (LINK) is experiencing a flurry of activity as whale transactions soar.
“Chainlink: Yesterday, LINK witnessed the biggest spike in whale transactions of the year, with over 2,600 transactions of over $100,000 each!”
Chainlink is trading at $14.38 at the time of writing, down 1.6% in the last 24 hours.
Finally, the trader say memecoin Dogecoin (DOGE) could have a huge breakout and rise more than 68% from its current value.
“Dogecoin: On the weekly chart, DOGE faces a major hurdle at $0.087. This crucial level is marked by the convergence of the Fibonacci level of 0.786 and both the 100-week and 200-week EMAs (exponential moving averages). Breaking this barrier could open the gates for DOGE to nearly double its price, with a target price of $0.14.”
Dogecoin is trading at $0.0830 at the time of writing, up 3.1% in the last 24 hours.
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Generated image: DALLE3