🚨🚨😳Alert For $MATIC 🚨🚨😳😳😳😳

Polygon (MATIC) Whales Increase Transactions, Will It Impact the Price?

Whale transactions on the Polygon network have surged, with over $100 million in transactions valued at $100,000 or more. This usually indicates institutional interest, which can impact the token's price. Despite this, MATIC's price has dropped 4.19% in the last 24 hours, now standing at $0.49.

The Market Value to Realized Value (MVRV) ratio suggests that MATIC may be nearing its bottom, with a 30-day MVRV ratio of -8.32%. This indicates that if holders sell at the current price, they'll incur an 8.32% loss. However, the In/Out of Money Around Price (IOMAP) metric shows resistance at $0.51, which could hinder a price increase.

In summary, while whale interest is high, MATIC's price may not rise unless the resistance at $0.51 is overcome. If the price pulls back, it might offer better buying opportunities.

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