A prominent crypto analyst has noted a major shift in the market, pointing out that major investors are putting significant funds into one of the leading altcoins.
Ali Martinez, a famous crypto strategist, share with their followers on social media platform X (Twitter) that over the past week whales have acquired large amounts of Toncoin (TON).
Over the past week, whales have purchased more than 45 million Toncoins, worth around $346.5 million!
At the time of writing, TON is trading at $7.86, down 2.14% in the last 24 hours.
In addition to the Toncoin analyzer discuss the prospects before Dogecoin (DOGE), the leading meme cryptocurrency. According to him, Tom DeMark’s indicator “TD Sequential” – a tool traders use to identify potential reversal points, suggests that DOGE is poised for a bounce.
“TD Sequential presents a buy signal on Dogecoin’s three-day chart, predicting a one-to-four candlestick bounce for DOGE.” noted Martinez.
At the time of writing, the price of Dogecoin is $0.1201, down nearly 24% in the last 3 hours.
XRP is currently trading at $0.53 and has dropped nearly 15% in October, largely due to a renewed appeal by the U.S. Securities and Exchange Commission (SEC) in the ongoing lawsuit against Ripple.
Quite a few market participants maintain a positive outlook for Bitcoin as the fourth quarter approaches, driven by stable macroeconomic factors and institutional investment.
The cryptocurrency market is experiencing a notable decline since the beginning of the week, but remain a trending topic in the investment world.
Anticipation for heightened price fluctuations in Ethereum compared to Bitcoin is growing among traders, particularly with key macroeconomic events approaching, according to a crypto analyst.