The post What Major Holder Activity Shows appeared on BitcoinEthereumNews.com.

FET price is showing some unusual patterns that could impact its direction in the near future. Recent activity from major holders has caught attention, raising questions about what’s next for the token. While certain indicators point to potential gains, others suggest there might be caution among larger investors. These conflicting signals are creating uncertainty around the short-term outlook. With the market closely watching, FET’s next move could be pivotal. FET Whales Are Sending Paradoxical Signs Big holders of FET have been showing paradoxical signs in recent days. Monitoring the actions of a coin’s whales is crucial because it provides insights into potential market moves, as large-scale holders can influence the price with their buy or sell decisions. On September 28, there were 69 holders with between 100,000 and 1,000,000 FET tokens, and by September 30, this number had risen to 82, marking an 18% increase in just a few days. However, during the same period, holders with between 1,000,000 and 10,000,000 FET tokens dropped from 13 to 10. Read more: Top 9 Artificial Intelligence (AI) Cryptocurrencies in 2024 FET Whales Evolution. Source: Santiment This situation is unusual because while smaller large holders are accumulating, the biggest holders are reducing their positions, which could indicate a mixed sentiment in the market. For FET’s price, this divergence might suggest some short-term upward momentum from new buyers, but the retreat of the largest holders could signal caution or potential selling pressure ahead. Social Dominance Is Down FET’s Social Dominance 7-day Moving Average has seen a sharp decline, falling to 0.123%, down from 0.336% just a day ago and 0.668% on September 24. This decline matters because social dominance measures the level of attention and discussion a coin is receiving relative to the overall market. A drop in this metric suggests fading interest or…

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Filed under: News - @ October 1, 2024 5:22 pm