Decentraland (MANA) price edged closer to $0.40 on Friday morning, bringing its weekly gains to 18%. On-chain data reveals an accumulation wave among a cluster of price-savvy millionaire whale investors. Will they trigger a MANA price recovery mission? 

Decentraland suffered a turbulent start to June 2023 after MANA was caught in the crosshairs of the SEC’s lawsuit against Binance and Coinbase. However, it appears that MANA whales are shaking off the negative sentiment as they began to make massive fresh investments this week. 

Decentraland Whales Disgreard SEC Threats  

Despite the SEC labeling MANA a ‘security’ in recent lawsuits, a group of ‘millionaire’ whales have started buying the dip. 

On-chain data shows that the whales holding balances of 10 million to 100 million MANA bought another 36 million tokens between June 20 and June 23.  

At the current market price of $0.38, the whales’ fresh investment is worth over $13.6 million. When large institutional holders invest such a substantial amount within 72 hours, it means that they are confident in the MANA’s price prospec

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Author: Ibrahim Ajibade

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