While altcoins that attract attention with their recent rise exceeding 100% in the cryptocurrency market are increasing, one of them is The Graph (GRT).
At this point, while investors were wondering whether The Graph's rise would continue, Santiment shared The Graph.
Stating that the GRT price has almost doubled since October 19, 2023, Santiment stated that the GRT rise may continue.
Pointing out that whales took action with this rise and many new addresses were created, Santiment stated that the dollar average line for GRT moved downwards and that this situation was used to determine whether the bullish trend would continue.
According to Santiment, the dollar average line for GRT is moving downwards, indicating that GRT's upward trend may continue in the short term.
“The Graph price has almost doubled since October 19, there has been a huge whale movement and new addresses have been created.
“To determine whether the bullish trend can continue, a downward movement of the average dollar age line (as in the GRT) is often a confirmation for the continuation of this trend.”
📊 #TheGraph has nearly doubled since October 19th, and there has been major whale movement and new addresses being created. To identify whether a #bullish trend can continue, the mean dollar age line moving down (like it has for $GRT) is often validation. https://t.co/mJZiZitJ9P pic.twitter.com/q0Dzp3dsPd
— Santiment (@santimentfeed) November 8, 2023
The increasing interest in GRT and the expanding user base on the network are interpreted as a good sign for the future of GRT.
GRT, which has increased by over 100% since October 19, rose from $ 0.078 to $ 0.165. GRT continues to trade at $0.130 at the time of writing.
*This is not investment advice.