One of the most notable developments in the cryptocurrency market last week was the large-scale purchases made by whales. Cardano (ADA) and Dogecoin (DOGE)$DOGE
The intense demand for popular cryptocurrencies such as has caused movement in the market. According to analyst Ali Martinez's posts, the total amount of ADA and DOGE purchases in just two days approached $ 150 million. This situation, in addition to attracting market interest, gave important clues about the future performance of these assets.
Martinez announced that Cardano whales bought $85.6 million worth of ADA in just 48 hours. It is stated that the price of ADA was around $1.07 during this period. According to Martinez, movements of this magnitude generally contribute positively to market stability, and large purchases made for Cardano are carefully monitored by analysts.
A similar development occurred on the Dogecoin side. The same analyst stated that whales purchased 160 million DOGE in one day, making a total transaction of $64 million. This transaction kept the price of Dogecoin at $0.40, indicating that the interest of large investors in this asset has increased.
It was observed that whales invested heavily not only in altcoins but also in Bitcoin. Martinez stated that Bitcoin created a strong support zone at levels between $94,300 and $100,250. It was stated that approximately 2.25 million wallets accumulated a total of 2.18 million Bitcoins in this price range. At a time when Bitcoin was trading at $101,946, these support levels are considered an important indicator for the market.
Analysts say that these large-volume purchases of ADA, DOGE and Bitcoin are of critical importance for the market balance in the short term. These transactions made by whales can play a decisive role in the future direction of the market.