Crypto analytics platform Lookonchain tweeted that a whale has bought 475,000 LDO tokens from Binance. According to the analyst, the altcoin can move both ways as the bulls fight the bears. Meanwhile, Whale Alert reports that a large amount of Dogecoin (DOGE) has been removed from the Binance exchange to an address that may be a crypto cold wallet.
Whale bought LDO crazy! How will it affect the altcoin price?
Lookonchain, a crypto analytics platform, reported that a whale has purchased 474,527 Lido DAO Tokens (LDOs) worth $1.24 million from Binance. By the way, it should be noted that this is the second whale purchase of LDO signals during the day.
Currently, the whale has 14.8 million LDOs worth $39.38 million with an average cost of about $2.49 and a variable profit of about $2.58 million.
Crypto analyst Chryszano Ariston presents what he saw on the LDO technical chart as follows. Looking at the LDO/USDT chart below, it can be seen that the LDO has managed to break the 50-day MA challenge (orange) after the whale activity. However, applying the increase to whales alone would be biased.
For whatever reason, LDO was up 4.19% from $2,548 to $2,658. As seen in the chart above, the LDO fluctuates depending on the amplification pennant. But the market followed the LDO trend as its prices touched the upper Bollinger. As of press time, LDO is trading near the mid-line, but it will be interesting to see how buying whales do if they put LDO on the open market.
Meanwhile, if we look at the LDO daily chart below, we can see that the token has gained almost 271% in two months. So far, the bulls are fighting the bears as LDO consolidates. However, the signal touched the lower Bollinger. Therefore, we can expect the market to correct the price and the LDO may rise.
If the market corrects LDO prices and rises to the middle line, this will be a good opportunity for scalpers and intraday traders to open long positions. The RSI indicator is at 46.96 and is positioned parallel to the horizontal axis, so it is neutral and the trend is strong. However, if the whale that bought LDO dumps it on the open market, then the signal can drop as low as Support 1. This drop can cause a negative effect and many people can sell LDO, causing the price to drop further. Therefore, traders should remain vigilant at this point in time, as things that indicators cannot predict are emerging around the corner.
The whale bought 67 million DOGE
According to a tweet by the Whale Alert crypto tracker, a large amount of Dogecoin (DOGE) has been removed from the Binance exchange to an address that may be a crypto cold wallet. Meanwhile, the altcoin is trading at around $0.074, losing 1.1% daily. The data provided by the aforementioned tracker shows that about eight hours ago, an unnamed whale withdrew a total of 67,455,315 DOGE. Whale paid $5,097,050 for this piece of DOGE.
cryptocoin.comAs you follow, a DogeWhaleAlert follower shared on his ‘Weekly Whale Watch’ last week that the whales carried a total of 1,880,918,570 DOGE. The amount of this meme coin is equal to $148,938,207. This large amount of DOGE was transferred in 116 transactions, each carrying 5 million DOGE or more.
Robinhood owns billions of DOGE and DOGE enters the top 10 on Kucoin
The popular trading app Robinhood currently holds 24.25% of the total DOGE volume in circulation, according to DogeWhaleAlert. That is equal to 33,562,118,378 DOGE worth $2,515,849,956.
Meanwhile, Dogecoin is growing in popularity, which has been making the top 10 list of altcoins on Kucoin and Weekly Search Popularity for the past seven days.
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