Investor Sells MOODENG To Bag $1.38M Worth of Avalanche, AVAX Price Rally Ahead?

A significant cryptocurrency market movement has been detected as a prominent whale address executed a substantial conversion from MOODENG to Avalanche. 

According to Lookonchain monitoring, the whale address converted 6,365 SOL (approximately US$1.38 million) to acquire 23.13 million AVA. 

This strategic movement represents a major shift in portfolio allocation, suggesting growing confidence in Avalanche’s ecosystem. 

The transaction’s timing and size indicate a calculated move by a sophisticated investor, potentially signaling broader market sentiment shifts in favor of established blockchain platforms.

Historical Investment Analysis

The whale’s investment history reveals impressive returns on their MOODENG position. Between September 23 and October 9, the address invested 34,979 SOL (approximately US$5.1 million) to accumulate 22.31 million MOODENG tokens. 

This investment proved highly profitable, generating returns exceeding US$4 million, with peak unrealized profits reaching as high as US$9.4 million. 

This successful trading history demonstrates the whale’s market acumen and ability to capitalize on market movements, while the current transition to AVAX suggests a strategic repositioning of assets.

Also Read: MOODENG Price Soars 25% As OKX Announces Spot Trading Support

MOODENG Market Performance

MOODENG’s recent market performance shows significant downward pressure, with the token currently trading at $0.4085. 

The asset has experienced substantial decline across multiple timeframes, recording a -10.90% drop in the last 24 hours and a more severe -33.90% decrease over the past week. 

With a circulating supply of 990 Million MOODENG, the project maintains a market capitalization of $404,434,950. 

The recent price action and trading volume of $160,903,837 in the last 24 hours suggest high market volatility and changing investor sentiment.

Avalanche (AVAX) Market Outlook

In contrast to MOODENG’s decline, Avalanche (AVAX) has demonstrated strong positive momentum. 

The token is currently valued at $37.96, showing impressive gains of 11.18% in the last 24 hours and 17.78% over the past week. 

With a significant trading volume of $1,243,695,107 and a market capitalization of $15,520,467,413 supported by a circulating supply of 410 Million AVAX, Avalanche’s market performance suggests growing institutional interest and potential further upside. 

The whale’s substantial investment in AVAX could be seen as a bullish indicator for the token’s future price trajectory.