Whales Surprise Market by Accumulating Over $346 Million Worth of Top-10 Altcoin in Just Seven Days, Analyst Claims
A prominent crypto analyst has revealed that influential investors have made significant purchases of a top-10 altcoin. Ali Martinez, a well-respected crypto strategist, has shared with his substantial following on X, a popular social media platform, that whales have acquired substantial amounts of Toncoin (TON), the native token of the layer-1 blockchain. Martinez stated that these whales have bought an astonishing 45 million Toncoin within the past week, equating to a staggering value of approximately $346.5 million.
As of now, Toncoin is trading at $7.77, with an upward movement of almost 2% in the last 24 hours. Moving on to another analysis, Martinez suggests that the Tom DeMark (TD) Sequential indicator, a tool used by traders to identify potential reversal points for assets, predicts a rebound for Dogecoin (DOGE), the popular memecoin. The TD Sequential indicator presents a buy signal on the three-day chart of DOGE, indicating a potential rise of one to four candlesticks.
DOGE is currently valued at $0.123, experiencing a slight decrease of nearly 3% in the last 24 hours. Lastly, the crypto expert highlights that the TD Sequential indicator is also signaling bullishness for Ethereum (ETH). Based on the three-day chart, the indicator suggests a buy signal, indicating a potential rebound of one to four candlesticks for ETH.
At present, Ethereum is traded at $3,448, displaying a decline of 1.62% within the day. It is intriguing to observe the buying patterns of these notable investors and the potential implications for these altcoins in the market.