The post Is it Time to Buy the Dip? Whales Make Big Moves in Cardano, XRP, Dogecoin, and Bitcoin appeared first on Coinpedia Fintech News
Whale activity has surged in the last 24 hours, Crypto analyst Ali Martinez has recently observed significant whale activity in major cryptocurrencies like Bitcoin (BTC), Dogecoin (DOGE), Cardano (ADA), and XRP during a market dip. His insights shed light on how deep-pocketed investors are taking advantage of market corrections to accumulate more assets, signaling strong confidence in these digital currencies despite short-term price drops.
Whale investors are buying the dip – should you too? Let’s find out.
Cardano Whales are Charged with a Strong Comeback
Cardano (ADA) has seen impressive growth, surging over 100% in the past month. However, it has experienced a near 4% decline in the last week, suggesting some short-term selling pressure. Martinez pointed out that in the last 48 hours, Cardano whales have been particularly active. Over 80 million ADA tokens were purchased during this period, showing that large investors are undeterred by the current 6.22% drop in its price. At $1.14 per token, Cardano remains a key asset for those looking to capitalize on its long-term potential. Whales seem to believe in its smart contract capabilities, continuing to accumulate ADA even amid market fluctuations.
Dogecoin Whales Raising the Bar for Memecoins
In the meme sector, Dogecoin has faced difficulty breaking above the $0.5 mark, despite significant whale activity. However, Martinez noted that investors holding between 10 million and 100 million DOGE tokens bought a massive 210 million DOGE during the recent market correction. Despite a 4.7% decrease in its price, now at $0.402, Dogecoin remains a popular asset for whales who are betting on its future growth, regardless of its volatility.
Buy-the-Dip Strategy Continues
XRP Whales Adding Coins Despite the Drop
Finally, XRP, the third largest cryptocurrency took a dip of 5% today and currently trading at $2.43 yet the coin is making some massive moves with significant whale activity. Wallets holding between 1 million and 10 million XRP tokens bought over 100 million XRP during its recent price dip. This suggests that whales are confident in XRP’s future despite its price fluctuations, indicating strong long-term interest in the asset.
Big players are shifting significant amounts—could be a sign of a market shake-up ahead. We will come to know. Interestingly, coins like Cardano and XRP are quite noteworthy, this shows that the fear of the SEC is fading from investors’ minds. Are we expecting an early bell of Altcoin season? Before that watch every dip carefully!
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