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Home»ALTCOIN NEWS»Crypto Whale Swallows Nearly $149.6 Million Worth of Cardano and Large Memecoin in Just Two Days: Analyst
ALTCOIN NEWS

Crypto Whale Swallows Nearly $149.6 Million Worth of Cardano and Large Memecoin in Just Two Days: Analyst

By Crypto FlexsDecember 16, 20242 Mins Read
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Crypto Whale Swallows Nearly 9.6 Million Worth of Cardano and Large Memecoin in Just Two Days: Analyst
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Deep-pocketed investors are piling up massive amounts of Cardano (ADA) and its leading memecoin as the market has been trading sideways over the past week, an on-chain analyst said.

Analyst Ali Martinez told his 98,800 followers on social media platform X that the cryptocurrency whale had accumulated $85.6 million worth of ADA in a matter of days.

“Cardano whales purchased over 80 million ADA in 48 hours!”

Source: Ali Martinez/X

As of this writing, ADA is trading at $1.07.

Martinez also said that deep-pocketed investors have bought $64 million worth of large memecoin Dogecoin (DOGE).

“Whales purchased an additional 160 million Dogecoin DOGE in 24 hours!”

video
Source: Ali Martinez/X

As of this writing, DOGE is worth $0.40.

In total, cryptocurrency whales accumulated nearly $150 million worth of ADA and DOGE in just two days over the past week.

Martinez turns to Bitcoin and says he is looking at BTC’s In/Out of the Money Around Price (IOMAP) indicator. IOMAP determines support and resistance levels for BTC by classifying cryptocurrency addresses as profit, break-even, or loss.

According to analysts, Bitcoin holds a support stronghold above $94,000 as millions of wallets have accumulated millions of BTC above the price zone.

“Bitcoin sits above important support between $94,300 and $100,250, where 2.25 million wallets have purchased over 2.18 million BTC.”

video
Source: Ali Martinez/X

As of this writing, Bitcoin is trading at $101,946.

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Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that your transfers and transactions are entirely at your own risk and you will be responsible for any losses you may suffer. The Daily Hodl does not recommend the purchase or sale of any cryptocurrency or digital asset, and The Daily Hodl is not investment advice. The Daily Hodl engages in affiliate marketing.

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