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Home»Analysis»Polygon Whales Continue Buying Spree As MATIC Picks Up Worth $90,000,000: Trader
Analysis

Polygon Whales Continue Buying Spree As MATIC Picks Up Worth $90,000,000: Trader

2023-12-01No Comments2 Mins Read
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Cryptocurrency analyst and trader Ali Martinez says deep-pocketed investors are scooping up huge amounts of Ethereum (ETH) scaling solution Polygon (MATIC).

Martinez tells his 34,000 followers on the social media platform

“Polygon: MATIC whales have been on a buying spree lately, bringing in over 120 million MATIC in the last week – that’s a hefty $90 million investment!”

Image
Source: Ali Martinez/X

MATIC is trading at $0.76 at the time of writing, up slightly in the last 24 hours.

Then the trader notices that top blockchain oracle provider Chainlink (LINK) is experiencing a flurry of activity as whale transactions soar.

“Chainlink: Yesterday, LINK witnessed the biggest spike in whale transactions of the year, with over 2,600 transactions of over $100,000 each!”

Image
Source: Ali Martinez/X

Chainlink is trading at $14.38 at the time of writing, down 1.6% in the last 24 hours.

Finally, the trader say memecoin Dogecoin (DOGE) could have a huge breakout and rise 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 Fibonacci level of 0.786 and both the 100-week and 200-week EMAs (exponential moving averages). Breaking this barrier could open the gates for DOGE to nearly double its price, with a target price of $0.14.”

Image
Source: Ali Martinez/X

Dogecoin is trading at $0.0830 at the time of writing, up 3.1% in the last 24 hours.

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