- A whale repurchased 1.79M $FET at $1.33 after selling at $1.02, showing renewed market interest in Fetch.ai.
- $FET rose 73% since a crypto analyst’s buy recommendation, reaching $1.3890 with strong upward momentum.
- Recent whale activity and sustained price growth signal positive sentiment for Fetch.ai, reaching a high of $1.3890.
Fetch.ai ($FET) has experienced a sharp price surge of 70% in the past week. One particular whale’s actions have stood out, revealing a substantial amount of transaction involving $FET tokens.
Notably, this whale repurchased 1.79 million $FET tokens from Binance at $1.33, spending 2.385 million USDT. This trade occurred roughly six hours ago, marking an unusual shift in strategy for the whale, who had sold 2.33 million $FET at a lower price of $1.02 between August 11 and August 23.
The price of $FET has surged 70% in the past 7 days!
A whale seemed to regret selling before and spent 2.385M $USDT to buy 1.79M $FET back from #Binance at a higher price of $1.33 6 hours ago
This whale sold 2.33M $FET for 2.385M $USDT at $1.02 from Aug 11 to Aug 23.… pic.twitter.com/SNIbPrNp0z
— Lookonchain (@lookonchain) August 26, 2024
Whale’s Regret Evident in Recent Buyback
The whale’s activity shows a potential change in sentiment, as they decided to repurchase tokens at a higher price after selling them at a lower value just days earlier. The whale initially sold 2.33 million $FET for 2.385 million USDT when the price was lower, around $1.02.
Now, the same whale is buying back nearly the same amount, but at a price of $1.33 per $FET. This sequence of events demonstrates a costly decision, as the whale paid a premium to regain their tokens. Nevertheless, the whale’s re-entry into the market reflects a renewed interest in $FET, especially given the recent price jump.
Analyst Observes Fetch.ai’s Performance
Crypto analyst and trader DrProfitCrypto pointed out that $FET has gained 73% since their recommended entry point. The cryptocurrency has been experiencing strong upward momentum, reaching $1.3890 on Coinbase. This price movement, coupled with the whale’s actions, indicates significant market interest in Fetch.ai.
On a 4-hour price chart, there has been a clear upward trend, with the price increasing by over 72%, gaining approximately $0.5826. According to the analyst, the timing of the buy during a dip in mid-August played a crucial role in capitalizing on the subsequent surge.
Source: DrProfitCrypto
Strong Price Movement on Display
Fetch.ai reached a high of $1.3890, reflecting a positive trend and renewed interest in the cryptocurrency. The rapid upward movement in $FET’s value has been highlighted as a successful trade opportunity by DrProfitCrypto, who emphasized the importance of timely buying during a market dip.
Each of the 4-hour intervals shows sustained growth, with the most recent candle reflecting a 3.05% increase. The whale’s actions, combined with ongoing positive market sentiment, continue to drive Fetch.ai’s performance.
