SAND is bucking the market downtrend and is up 88% for the week
SAND is still in the running until this week. Although the entire market has collapsed in the past 11 days and Bitcoin has lost over 16.1% of its value, SAND is moving in the opposite direction. Not at 318% like at the beginning of November, but much safer for investors.
SAND goes up to fall like last time?
During the week, SAND bucked the general market trend and was up 87.79%. This has had a huge impact on investors and SAND even passed the $ 4 mark yesterday.
SAND price promotion | Source: TradingView
What is interesting is that this rally is different because it was not born out of FOMO. Previously, FOMO investors who bought during the hype (when the all-time high was $ 3.2) suffered a loss in a 28% correction that naturally came afterward.
However, given SAND’s healthy growth this week, the chance of another 28% correction and network-wide surrender seems somewhat unlikely.
Profit / loss indicator returns to neutral | The source: mood
Do investors act?
SAND is a whale token (whales make up 85% of total supply), so it’s no surprise that the average whale trade this week is $ 40 million, up from $ 80 million yesterday. .
Whale trade | Source: Santiment
However, with over $ 100,000 in trading volume accounting for only 88% of the $ 546 million, the remaining 12% ($ 63 million) is due to investor movements. Even so, any new investor will always have the fear of a whale sell-off in mind.
However, due to the very high volume and social dominance, there is still a chance that new investors will join the network. In addition, the speed of network expansion continues to increase day by day.
Social mass (pink) and dominance rate (red) | The source: mood
Since SAND’s correlation with Bitcoin remains at -0.5, it will decrease as BTC increases. Hence, investors can monitor this indicator to find out when the price is falling. If the correlation rises to 1, the SAND also follows the overall market trend.
Correlation of SAND and BTC | The source: Intotheblock
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SAND is bucking the market downtrend and is up 88% for the week
SAND is still in the running until this week. Although the entire market has collapsed in the past 11 days and Bitcoin has lost over 16.1% of its value, SAND is moving in the opposite direction. Not at 318% like at the beginning of November, but much safer for investors.
SAND goes up to fall like last time?
During the week, SAND bucked the general market trend and was up 87.79%. This has had a huge impact on investors and SAND even passed the $ 4 mark yesterday.
SAND price promotion | Source: TradingView
What is interesting is that this rally is different because it was not born out of FOMO. Previously, FOMO investors who bought during the hype (when the all-time high was $ 3.2) suffered a loss in a 28% correction that naturally came afterward.
However, given SAND’s healthy growth this week, the chance of another 28% correction and network-wide surrender seems somewhat unlikely.
Profit / loss indicator returns to neutral | The source: mood
Do investors act?
SAND is a whale token (whales make up 85% of total supply), so it’s no surprise that the average whale trade this week is $ 40 million, up from $ 80 million yesterday. .
Whale trade | Source: Santiment
However, with over $ 100,000 in trading volume accounting for only 88% of the $ 546 million, the remaining 12% ($ 63 million) is due to investor movements. Even so, any new investor will always have the fear of a whale sell-off in mind.
However, due to the very high volume and social dominance, there is still a chance that new investors will join the network. In addition, the speed of network expansion continues to increase day by day.
Social mass (pink) and dominance rate (red) | The source: mood
Since SAND’s correlation with Bitcoin remains at -0.5, it will decrease as BTC increases. Hence, investors can monitor this indicator to find out when the price is falling. If the correlation rises to 1, the SAND also follows the overall market trend.
Correlation of SAND and BTC | The source: Intotheblock
Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews
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According to AMBCrypto
Follow the Youtube Channel | Subscribe to telegram channel | Follow Facebook page
