- Mystery group 7 Siblings could be dumping $8.3 million worth of MKR.
- Altcoin Maker (MKR) may see selloffs, but MKR whales continue to hold strong.
- Bitcoin (BTC) dips below the 200 MA again hinting at explosive gains in 40 days.
The crypto market saw brutal dips this week for both BTC and ETH, leading to growing FUD sentiments and more token selling. To highlight, the price of many altcoins like ADA and XRP are falling despite positive developments for both projects. Similarly, another altcoin is facing the same price drop issues. To highlight, the mystery group 7 Siblings could be dumping $8.3 million worth of Maker (MKR).
Mystery Group 7 Siblings Could be Dumping $8.3 Million Worth of MKR
As we can see from the post above, a significant move has been ideantified to be a likely sell move by the mystery group 7 siblings. In detail, the post highlights that the entity may be dumping $8.3 million worth of MKR. According to the post, the entity unlocked 7,000 MKR worth $8.3 million from MakerDAO and has since sold 706.7 MKR worth $861,000 for 594.95 ETH at an average price of $1,218. By these calculations, around 6,293 MKR worth $7.47 million remain in the entity’s holdings.
Responses to the post depict how no FUD sentiments are prevailing as MKR whales seem to be holding tight to their MKR holding, showcasing strong continued support. According to CoinMarketCap analytics, the price of Maker (MKR) currently stands at $1,248.79 showing that the asset has barely dipped in the last 24 hours despite the entity sling some of its holdings. The altcoin also boasts a healthy total market cap of $1,057,366,771.26 and a 24-hour trading volume of $123,874,131.18.
Maker (MKR) once held an ATH of $6,339.02 4 years ago. While analysts aren’t sure of how high MKR price will go when the altseason peak phase arrives, they are certain that an altseason will arrive and that despite the expected market dip on the horizon, MKR price will hold as whale support has not wavered. In fact, responses to the post expect the price will hold as low as $1,180 in case of a greater dip.
BTC Dips Below 200 MA Again
While talks of a greater price dip grow traction, talks of the eventual market pumps grow as well. As we can see from the post above, This analyst highlights how BTC has dipped below the 200 MA again. Historically, Bitcoin takes a maximum of 70 days to recover since the last sign, and today marks day 30 since that signal. Thus, the analyst concludes that an epic rally is in the works and encourages traders to accumulate promising altcoins and Bitcoin before explosive pumps take place once again.
