The cryptocurrency market is still continuing to decline, but market trends indicate that some counterfeit currencies are forming a series of bullish anomalies.Due to these reasons, Chainlink and Dogcoin are bullishChainlink (LINK) seems to be favored by market participants, especially whales
The cryptocurrency market is still continuing to decline, but market trends indicate that some counterfeit currencies are forming a series of bullish anomalies.
Due to these reasons, Chainlink and Dogcoin are bullish
Chainlink (LINK) seems to be favored by market participants, especially whales. Despite the collective decline in prices of leading counterfeit coins, Chainlink whale addresses are skyrocketing every week. A market report by Santiment shows that LINK whales holding over 1000 LINK tokens have skyrocketed.
Chainlink's shark and whale addresses, holding 1K to 1MLINK, have experienced an unprecedented increase in holdings. These wallets have added 26.8 million LINKs ($194.3 million) in just 2 months, and the tokens in the wallets have increased by 12.8%.
LINK's price performance is also mainly bullish, as the asset closed with a surge in price in November. On November 29th, Chainlink surged 36% during the session, with prices rising to $7.35. Although LINK fell 0.38%, this asset is one of the few to maintain its position and price point since November.
With the increasing popularity of the web3 industry, the new year has brought some opportunities for Chainlink. The demand for decentralized financial applications will definitely affect the Oracle network, which allows for the development of Web3 applications.
Similarly, dog coins have been the industry's favorite for most of this year. ElonMusk's consistent support has recently reiterated his position on DOE. As usual, the billionaire remained optimistic yesterday and insisted on Twitter that Dogcoin was still preparing to land on the moon.
Musk issued the above statement after market participants questioned the possibility of Twitter implementing cryptocurrency payments on its platform. If Dogcoin enters Twitter, market participants are confident that the adoption rate of the asset will skyrocket, leading to a significant price rebound. The possibility of dog currency hitting the $1 mark will definitely increase.
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