A prominent cryptocurrency analyst has revealed that wealthy investors are suddenly acquiring a significant amount of a top-10 altcoin. Ali Martinez, a crypto strategist with a substantial following on social media, informed his 66,200 followers on X that whales have purchased over 45 million Toncoin, the native token of the layer-1 blockchain Toncoin, in the past week. This amounts to approximately $346.5 million. At the time of writing, Toncoin is trading at $7.77, showing an increase of nearly 2% in the last 24 hours.

Additionally, Martinez highlighted that the Tom DeMark (TD) Sequential indicator, commonly used by traders to identify potential reversal points for assets, is indicating a rebound for Dogecoin, a popular memecoin. He stated that the TD Sequential presents a buy signal on the three-day chart for Dogecoin, predicting a bounce of one to four candlesticks. Meanwhile, Dogecoin is currently trading at $0.123, reflecting a decrease of almost 3% in the past 24 hours.

Furthermore, the analyst noted that the TD Sequential indicator is also signaling optimism for Ethereum, a leading cryptocurrency. According to Martinez, the TD Sequential presents a buy signal on the three-day chart for Ethereum, projecting a rebound of one to four candlesticks. As of now, Ethereum is trading at $3,448, exhibiting a 1.62% decline for the day.

It is important to note that the opinions expressed in this article are not investment advice, and investors should conduct thorough research before engaging in high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Transfers and trades come with inherent risks, and any losses incurred are the responsibility of the individual. The Daily Hodl does not endorse the buying or selling of any cryptocurrencies or digital assets, nor does it provide investment advice.