Cryptocurrency analyst and trader Ali Martinez says that deep-pocketed investors are scooping massive amounts of Ethereum (ETH) scaling solution Polygon (MATIC).
Martinez tells his 34,000 followers on the social media platform X that crypto whales bought up a whopping 120 million MATIC in the past seven days.
“Polygon: recently, MATIC whales have been on a buying spree, scooping up over 120 million MATIC in the past week – that’s a hefty $90 million investment!”
MATIC is trading for $0.76 at time of writing, up slightly in the past 24 hours.
Next up, the trader notices that top blockchain oracle provider Chainlink (LINK) is experiencing a surge in activity as whale transactions soar.
“Chainlink: yesterday, LINK witnessed its largest spike in whale transactions for the year, with over 2,600 transactions exceeding $100,000 each!”
Chainlink is trading for $14.38 at time of writing, down 1.6% in the last 24 hours.
Lastly, the trader says memecoin Dogecoin (DOGE) could have a massive breakout and increase 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 0.786 Fibonacci level and both the 100-week and 200-week EMAs (exponential moving averages). Breaking past this barrier could open the gates for DOGE to nearly double its price, aiming for a target of $0.14.”
Dogecoin is trading for $0.0830 at time of writing, increasing 3.1% in the last 24 hours.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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