Polygon (POL) Price Prediction: Whales Accumulate $56M POL Tokens, Signaling a Potential Rally

Within the last 96 hours, a subset of large-scale investors popularly referred to as the whales, has swept in and brought up around to the tune of 140 Million Polygon (POL) tokens.

A group of large-scale investors, known as whales, has recently acquired a substantial amount of Polygon (POL) tokens, specifically around 140 Million tokens, which is valued at approximately $56 Million, as reported by the crypto analyst Ali_Charts.

This massive purchase has shifted the attention towards Polygon ($POL) and its price movements. To provide context, Polygon is a Layer 2 solution for Ethereum. It enhances the network's performance by making operations faster and more efficient.

While discussing the significance of this development, it's crucial to understand that if whales are observed accumulating a large quantity of $POL tokens, it often bodes well for the project's success. Whales typically engage in buying when they anticipate the growth of a particular project.

Furthermore, Polygon's capability to provide solutions to Ethereum's problems has contributed to its increasing popularity. As more dApps and projects are deployed on Polygon's network, the demand for the $POL token naturally increases.

As a result, these whales are essentially betting on the appreciation of $POL's value as Polygon continues to grow.

In a separate tweet posted by Ali_Charts on X, he highlights that if Polygon manages to hold the support level between $0.375 and $0.386, it could set up a new higher high. This would also signal growth, indicating that a potential rally might be on the horizon.

Another analyst, CryptoBull_360, agrees with this bullish outlook. He points out that $POL has broken a key resistance level, which could trigger a major bullish rally.

Moreover, high volume and strong momentum are often signs that a token is preparing for a breakout. And according to many experts, $POL is showing just that.

With the support of large investors, the future looks promising for $POL. These upgrades and the growing interest from investors are clear indicators of the strength that Polygon's network is amassing.

Hence, further price increases for $POL are likely in the horizon. Additionally, the Total Value Locked (TVL) in Polygon’s DeFi products has also grown significantly.

As reported by Defillama, Polygon's TVL increased from $772 Million in November 2023 to $1.01 Billion in November 2024. This showcases how more people are turning to Polygon for their decentralized finance operations.