According to a prominent crypto analyst, deep-pocketed investors are suddenly buying up one of the top 10 altcoins.
Cryptocurrency strategist Ali Martinez told her 66,200 followers on social media platform X that whales had been swiping up the native tokens of layer 1 blockchain TONcoin (TON) in the past week.
“Whales bought over 45 million TON coins last week, worth about $346.5 million!”
At the time of writing, Toncoin is trading at $7.77, up about 2% over the last 24 hours.
The analyst then said that the Tom DeMark (TD) Sequential indicator, which traders use to gauge potential reversal points in an asset, is signaling a rebound in top meme coin Dogecoin (DOGE).
“TD Sequential shows a buy signal on the Dogecoin 3-day chart, predicting a 1-4 candlestick bounce of DOGE!”
At the time of writing, DOGE is trading at $0.123, down about 3% over the last 24 hours.
Finally, the analyst says the TD Sequential indicator is also showing bullishness for Ethereum (ETH).
“TD Sequential shows a buy signal on Ethereum 3-day chart, predicting ETH to bounce 1-4 candlesticks!”
At the time of writing, Ethereum is trading at $3,448, down 1.62% from the previous day.
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