Closely followed analyst says deep-pocketed crypto investors have raked in over $2.5 billion in XRP and Dogecoin (DOGE) in just a few days.
In a new thread, crypto trader Ali Martinez tell its 111,500 followers on social media platform X that whales have taken steps to accumulate the payments-focused altcoin XRP.
“Whales bought about a billion XRP in 48 hours!
At the time of writing, XRP is trading at $2.54, indicating that whales have accumulated $2.54 billion worth of the third-largest altcoin by market capitalization.
Let’s move on to the popular DOGE meme asset, Martinez said that crypto whales gobbled up huge amounts of dog-themed altcoins over a two-day period.
“Whales purchased over 470 million Dogecoin DOGE in 48 hours!
With DOGE trading at $0.338 at the time of writing, the whales’ Dogecoin hoard is now worth $158.86 million.
In total, deep-pocketed investors have accumulated $2.698 billion worth of XRP and DOGE.
Looking at the charts, Martinez predicts that XRP soar at a huge price in February, noting that the asset has two potential entry points.
“The first is the pennant’s ascending trendline at $2.05. The second is a breakout outside the pennant, at $2.50. Regardless of your participation, the goal remains $10! »
The crypto strategist continues note that digital assets have seen a decline in capital inflows over the past 30 days.
“Capital inflows into the crypto market fell from $134 billion to $68 billion over the past month, representing a 49% decline.”
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Featured image: Shutterstock/Olga Medvedeva