Cryptocurrency

April

Chainlink

Shiba Inu

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 <p class="paragraph">In a notable upswing, Chainlink (LINK) has experienced a substantial upswing in recent weeks, propelled by heightened network <a rel="noopener noreferrer nofollow" title="activity" href="https://thebittimes.com/tag/activity.html">activity</a> and a resurgence in the broader cryptocurrency market following months of stagnation.&nbsp;</p>
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 <p class="paragraph">Surpassing $16, the altcoin achieved its highest value since April 2022.&nbsp;</p>
 <p class="paragraph">While it retraced some gains in subsequent weeks, the enduring enthusiasm for this cryptocurrency is evident, particularly as crypto whales continue to show interest, adding momentum to LINK’s intriguing trajectory.</p>
 <h2 class="wp-block-heading" id="h-2-600-whales-bought-over-100-000-link-each">2,600 whales bought over $100,000 LINK each</h2>
 <p class="paragraph">As pointed out by prominent analyst Ali Martinez on November 29, LINK has been drawing increasingly stronger attention among the crypto whale population.</p>
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 <p class="paragraph">Notably, the altcoin saw “its <a rel="noopener noreferrer nofollow" title="largest" href="https://thebittimes.com/tag/largest.html">largest</a> spike in <a rel="noopener noreferrer nofollow" title="whale" href="https://thebittimes.com/tag/whale.html">whale</a> transactions for the year, with over 2,600 transactions exceeding $100,000 each,” said Martinez in his X post.</p>
 <figure class="wp-block-image"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/PoQaYUl5F3ds3xz8GopH62pZL0GDMndWqOmA1qEdaSu6FeEcuVB0h7izq5SunGkDQV-KIBrbNNBs5kfml4_c4w9ZQUakI-8-y-AhrdmFn6oaYOt0yxm-ro0n7SolilvWxV3XlftNnusc84iQSerFLYY" alt>
  <figcaption class="wp-element-caption">
   Spike in LINK whale transactions. Source: Ali Martinez
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 <p class="paragraph">Typically, a robust crypto whale interest is considered a positive indicator for an asset’s price, because it signals a strong vote of confidence in its potential.&nbsp;</p>
 <p class="paragraph">Their involvement suggests strategic positioning based on positive market outlooks or fundamental developments, serving as an influential indicator for other investors.&nbsp;</p>
 <p class="paragraph">Additionally, the entry of whales can contribute to increased liquidity and heightened market activity, influencing the overall sentiment and trajectory of the cryptocurrency.</p>
 <p class="paragraph">In several instances in the past six months, sharp spikes in <a rel="noopener noreferrer nofollow" title="whale" href="https://thebittimes.com/tag/whale.html">whale</a> transactions preceded a rally in Chainlink’s <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a>. Such examples occurred in July, October, and earlier this month.&nbsp;</p>
 <p class="paragraph">Although the number of whale transactions surpassing $100,000 and higher was relatively low when compared to November 28, it preceded a surge in LINK price within a 2-3 day timeframe.&nbsp;</p>
 <h2 class="wp-block-heading" id="h-link-price-analysis">LINK price analysis</h2>
 <p class="paragraph">Chainlink was changing hands at $14.74 at the time of publication, up 3.31% in the past 24 hours.&nbsp;</p>
 <p class="paragraph">The altcoin gained 4.3% on the week and more than 33.8 across the past month, adding almost $2 billion in its market cap during this period.</p>
 <figure class="wp-block-image"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/Juw3CGcUdzeKQQGqvkOHIiZdif-m79VyRfMhtxAi1NdC0xKH1_CPJiGK_jrAqH5-0hgeVjAEBpFqlTePx64_VJI_1OuuT9UVSIWE2jXAFQ-yStJvLGhL3YDv9da2BzkfQdF3aWUYZtPS5gX-9jZ4JP0" alt>
  <figcaption class="wp-element-caption">
   LINK 1-month price chart. Source: Finbold
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 <p class="paragraph">Year-to-date, the cryptocurrency rocketed over 165%, outshining the Bitcoin’s (BTC) 130% surge.</p>
 <p class="paragraph">In his <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> last week, Martinez indicated that LINK was poised for a potential breakout from a bull flag pattern. More precisely, the cryptocurrency was anticipated to revisit the breakout zone around $14 before possibly advancing toward the $20 mark.</p>
 <p class="paragraph"><strong><em>Disclaimer</em></strong><em>: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/chainlink-price-prediction-as-link-sees-largest-whale-activity-in-2023-tbt72043.html">https://thebittimes.com/chainlink-price-prediction-as-link-sees-largest-whale-activity-in-2023-tbt72043.html</a></p>

Chainlink price prediction as LINK sees largest whale activity in 2023

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