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Whales Accumulate as Market Crashes: BOME Shows Signs of Recovery

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Market Crash,Bearish Sentiment,Whales

Last week's market crash led to bearish sentiment in the crypto market, but whales took advantage of the situation to accumulate. BOME, despite a recent spike in price, still faces dominant bearish sentiment.

Last week’s market crash stirred up bearish sentiment in the market as most cryptos bled. While several panicked, whales used the opportunity to accumulate.The last few days were disastrous for the crypto market, as most coins, including BOME, lost substantial amounts of market capitalization. According toThe demand among whales provided the much-needed push for BOME to initiate its recovery as the market condition turned bullish.

It was surprising to note that the recent hike in price did not affect market sentiments positively. AMBCrypto’s look at Santiment’s data revealed that the memecoin’s weighted sentiment remained low. As per our analysis, the memecoin will face a high liquidation near $0.010. The memecoin needs to rise over that threshold before the memecoin can offset its loss from the previous week.Market indicators unfortunately turned bearish on BOME. For instance, the Relative Strength Index registered a slight downtick.

 

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