FET, AAVE, DOGE lead altcoin accumulation – Will it trigger a new altseason?
Market data showed massive accumulation for several altcoins. In fact, a positive impulse signal for alts was triggered, suggesting that we could soon witness an explosive altseason.
Selected altcoins have outperformed Bitcoin [BTC] after it printed a new record high recently.
And the 2% drop in BTC dominance showed that a small capital rotation from BTC to altcoins had happened. But a larger rotation could soon follow.
In a recent report, CryptoQuant analyst Joao Wedson highlighted massive accumulation across Aave [AAVE], Dogecoin [DOGE], Maker [MKR], Chainlink [LINK], Artificial Superintelligence Alliance [FET], and more.
The red bars show outflows (accumulation) of tokens moved from exchanges to users’ wallets. Exchanges saw more outflows than inflows, suggesting growing conviction of a likely surge.
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