Cryptocurrency whales have just perfectly signalled a top in Ethereum-based altcoin, Rocketpool (RPL)'s all-time high surge. According to blockchain data from Santiment, a leading analytics firm, whales took profit at the highest prices for RPL, which exceeded $61. The firm also pointed out that RPL saw second-highest amount of large transactions in token's history when it was at its highest levels. Aside from this, Santiment's data analysis also highlighted the recent meme-coin craze in the cryptocurrencty space. The large amount of keywords like Pepe, Babydoge and Bobo on social media may form an idea that crypto market is bound to take a pause soon.

By observing the market behaviour of crypto whales, Santiment concluded that they had anticipated and signalled the all-time high surge in Rocketpool quite accurately. The firm also noted that when the crypto market is at its highest, keywords related to meme coins abound on social media which could ultimately lead to a crypto market break. As per Santiment's blockchain data, since the beginning of 2021, Rocketpool has been increasing exponentially in its value and from the beginning of April reaching its peak at $62 on April 6th. Nonetheless, soon after that the crypto market started seeing decrease in its value. This could be because the whales had taken their profits before the prices declined.

Santiment's critical analysis on the cryptocurrency whale's behaviour as well as the correlation of meme coins to the crypto market performance helps better understand and anticipate the asset's behaviour. This knowledge can be used by investors, traders and analysts to their advantage in order to make informed and rational decisions. Furthermore, this analysis is also a great tool to understand the crypto market's entire structure, which may lead to a better overall performance and success.



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