Key Points:
- According to Santiment, the price of Litecoin has increased by +89% since falling below $50 on November 9th.
- Dogecoin has seen a surge in whale transactions yesterday, easily the largest of the year, as well as an increase in address activity.
- Bitcoin (BTC) witnessed the highest ratio of profit-to-loss transactions in over two years when the price reached $23,920, indicating a drop in value.
According to Santiment, Litecoin (LTC) is rallying with strong backing from shark addresses, who have amassed more than $108 million in the token in just a few months.
According to Santiment, shark addresses have aggressively gathered the token since July 2022, assisting in its rise to $100.
According to Santiment, the price of Litecoin has increased by +89% since falling below $50 on November 9th. Addresses owning 100-10,000 LTC have added 1.15 million more coins in the last six months, a 4.92% rise, and are to blame for the coin’s climb.
At the time of writing, Litecoin is trading at $100.74 USD.
Santiment also anticipates a surge in whale transaction activity for Dogecoin (DOGE), an open-source peer-to-peer cryptocurrency. The increase in whale activity could be a bullish indicator.
Dogecoin has seen a surge in whale transactions yesterday, easily the largest of the year, as well as an increase in address activity. Since December 29th, the divisive coin has increased by 40% and is back above $0.095 for the first time since December 10th.
At the time of writing, Dogecoin (DOGE) is trading at $0.0946 USD, which is up 35% since the first day of 2023.
As for Bitcoin (BTC), Bitcoin (BTC) witnessed the highest ratio of profit to loss transactions in over two years when the price reached $23,920, indicating a drop in value, according to Santiment. It is believed that once loss trades begin to proliferate, the price will immediately rebound.
At the time of writing, Bitcoin (BTC) is trading at $23,868 USD, and the crypto king hit $24,000 over the last 24 hours.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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