Chainlink Whales Accumulate $120M as Market Dip Triggers 17% Correction

Chainlink (LINK) has seen increased buying activity from large holders in recent days. Over the past week, the token rose by more than 13%, and this surge drove whales to accumulate millions of LINK during the weakness.

According to data shared by analyst Ali Martinez, whales have purchased approximately 10.36 million LINK over the past 96 hours, worth around $120 million. This accumulation after a sharp pullback suggests that large investors are positioning for a rebound.

However, this buying activity comes after LINK fell from $13.68 to $11.29, marking a 17% correction from its recent level. Analyst Michaël van de Poppe remains optimistic about LINK's outlook despite the recent decline, suggesting that investors looking at the token from a longer-term perspective may find current levels attractive.

Van de Poppe identified $11.80 as an important level for a potential long position if the market avoids another breakdown. If LINK falls further, he said the $10 area could become another level of interest. The analyst placed LINK's next major target around $15 if the token regains strength.