Whale indicators have revealed massive Whale activity for three top altcoins in the crypto space. The altcoins include Dogecoin, KangaMoon, and Chainlink. Let us look at them and their current price movements.
Dogecoin (DOGE) Whale Moves
Dogecoin (DOGE) witnessed a massive whale transfer to a centralized exchange on February 7th. Whale Alert's data showed that 100 million DOGE (worth $7.83 million) was moved from an unknown wallet ending in ...wwKF to the Robinhood trading platform.
Unfortunately, the reason for the massive transfer to the exchange remains unknown. Investors and market watchers believe the whole could be preparing for a massive dump in the coming days.
This massive whale transfer comes when Dogecoin is struggling with bearish momentum. According to CoinMarketCap, the altcoin has traded in the $0.07 region in the past week.
It has been fluctuating between $0.07772 and $0.07992, with a decline of 1.3% on the weekly chart. Nevertheless, Dogecoin price has little gains of 1.2% on the monthly chart.
Whales Intensify Chainlink (LINK) Accumulation
According to recent information, Chainlink (LINK) whales are currently on the move. LookOnChain, an on-chain analytics platform, reported that a whale or institution transferred 2,745,815 LINK ($49.9 million) from Binance to 49 newly created wallets.
In another transaction, a whale's wallet labelled "0x2A19" withdrew 494,957 LINK from Binance ($9 million) over ten days. Interestingly, these accumulations contributed to a 44% increase in Chainlink's price within just 12 days.
Ali Martinez, an on-chain analyst, also weighed in on this positive momentum in Chainlink's market activity. He identified a major challenge for the altcoin, noting a "stiff resistance" in the $19.40-$20.03 price range.
According to Martinez, there are over 5,330 addresses that collectively hold more than 8.59 million LINK at this price level. If Chainlink surpasses this resistance, it could soar to $25.
Whales Show Huge Interest In KangaMoon (KANG) Crypto ICO
Like Dogecoin and Chainlink, whales have also shown interest in a new meme coin called KangaMoon (KANG). However, KangaMoon's case is different from that of Dogecoin but Chainlink. Whales have been looking forward to the KangaMoon crypto ICO.
The KangaMoon KANG token will be starting its presale at a price of only $0.005. Analysts believe it would rise to become one of the best projects in the crypto sector. The project is becoming increasingly popular because of its drive to transform the meme coin space.
KangaMoon's ecosystem will fuse Social-Fi and play-to-earn (P2E) to enhance the user experience within its gaming ecosystem. The KANG token will be used for various activities, from item purchases to character upgrades.
Moreover, KANG token holders can accumulate more tokens by taking part in challenges, even before the platform's official launch. This pre-launch phase provides early adopters a chance to gain a head start.
The P2E NFT Games market is growing every day and reached a valuation of $3292.73 million in 2022 (per Yahoo Finance). KangaMoon is positioning itself to ride on this growth and give its users entertainment and rewards.
Conclusion
While some whales are accumulating top altcoins like KangaMoon and Chainlink, others want to dump Dogecoin. This makes KangaMoon and Chainlink the best coins to go for right now. Investors looking for low-priced tokens can go for KangaMoon, which costs just $0.005.
Discover the Exciting Opportunities of the Kangamoon (KANG) Presale Today!
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