Crypto analytics platform Lookonchain tweeted that a whale has purchased 475,000 LDO tokens from Binance. According to the analyst, the altcoin could move in both directions as the bulls fight the bears. Meanwhile, Whale Alert reports that a large amount of Dogecoin (DOGE) has been withdrawn from the Binance exchange to an address that could be a cold crypto wallet.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 whale’s second purchase of LDO tokens 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 Chryzano Ariston conveys what he saw in the technical drawing of LDO as follows. Looking at the LDO/USDT chart below, it can be seen that LDO has managed to break the challenging 50-day MA (orange) after whale activity. However, applying the increase only to whales would be biased.
Whatever the reason, LDO was up 4.19% from $2,548 to $2,658. As seen in the chart above, the LDO is fluctuating on the bullish pennant. But the market followed the LDO’s trail as its prices touched the top Bollinger. As of press time, LDO is trading close to the midline, but it would be interesting to see how buying whales would react if they put LDO on the open market.
Meanwhile, looking at the LDO daily chart below, we can see that the token has gained around 271% over a period of about two months. As of now, the bulls are fighting the bears as LDO consolidates. However, the token touched the lower Bollinger. Therefore, we can expect the market to correct prices and LDO may rise.
If the market corrects the LDO prices and rises to the middle line, this will be an excellent 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 the LDO dumps it on the open market, then the token could drop as low as Support 1. This drop could create a ripple effect and the masses could sell LDO, driving prices down further. Therefore, traders should remain vigilant at this stage of time, as factors that the indicators cannot predict are lurking around the corner.
Whale bought 67 million DOGE
According to a tweet by the Whale Alert crypto tracker, a large amount of Dogecoin (DOGE) has been withdrawn from the Binance exchange to an address that could be a cold crypto wallet. Meanwhile, the altcoin is trading at around $0.074, losing 1.1% on a daily basis. Data provided by the aforementioned tracker shows that about eight hours ago, an unnamed whale pulled back a total of 67,455,315 DOGEs. Whale paid $5,097,050 for this piece of DOGE.
cryptocoin.comAs you follow, DogeWhaleAlert follower shared on his ‘Weekly Whale Watch’ last week that whales carried a total of 1,880,918,570 DOGE. The amount of this meme coin is equivalent to $148,938,207. This massive amount of DOGE was transferred in 116 transactions, each carrying 5 million DOGE or more.
Robinhood owns billions of DOGEs and DOGE enters the top 10 on Kucoin
Popular trading app Robinhood currently holds 24.25% of the total DOGE amount in circulation, according to DogeWhaleAlert. This is equivalent to 33,562,118,378 DOGE worth $2,515,849,956.
Meanwhile, Dogecoin is growing in popularity, which has been making the top 10 altcoins list on Kucoin by Weekly Search Popularity in the past seven days.
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