One cryptocurrency analyst said whales suddenly accumulated tens of millions of dollars worth of Dogecoin (DOGE) in just a few days.
Crypto strategist Ali Martinez told his 63,100 followers on social media platform
Using data from analytics platform Santiment, Martinez says DOGE’s sudden whale accumulation occurred as sentiment for the major memecoin fell close to 2024 lows.
“Market sentiment for Dogecoin is as bearish as it was in early February, right before DOGE surged 200%!”
Dogecoin sparked a major surge, rising from $0.077 on February 1st to $0.228 on March 28th. As of this writing, DOGE is worth $0.159.
Looking at Dogecoin’s rival, Shiba Inu, Martinez said cryptocurrency exchanges are suddenly seeing massive inflows of SHIB.
“Shiba Inu: Over 4 trillion SHIB have been sent to cryptocurrency exchanges in the last two weeks, valued at approximately $103 million!”
As of this writing, SHIB is trading at $0.000025.
Looking at Ethereum, the leading smart contract platform, the cryptocurrency strategist says the number of giant whale ETH wallets continues to grow.
“There has been a noticeable increase in the number of Ethereum addresses holding more than 10,000 ETH, signaling a shift from distribution to accumulation!”
As of this writing, ETH is worth $3,790.
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