Santiment: Bitcoin, XRP, and DOGE Give Bullish Signals! Reminiscent of 2017 and 2021 - Coin Bulletin

Crypto analysis platform Santiment announced that the metric 'Mean Dollar Invested Age', which is often overlooked in the cryptocurrency market, gave a bullish signal this week despite the overall market downturn.

According to Santiment's data, the average investment age of Bitcoin is 439 days, XRP is 865 days, and Dogecoin is 370 days. These numbers indicate that investment ages have significantly decreased in recent weeks. For example, the investment age of Bitcoin decreased by 31% in the last 60 weeks, XRP decreased by 22% in 14 weeks, and Dogecoin decreased by 31% in 8 weeks. Please provide the text to be translated.

Transition from old wallets to new wallets

Santiment noted the importance of this indicator, indicating that the decline in the average investment age of the network usually indicates that large investors are reactivating their old, inactive wallets. This indicates that old coins are re-entering circulation and network activity is increasing.

The statement emphasized that this metric is also an important indicator in past bull markets. Bull markets in 2017 and 2021 continued until the average investment ages of assets started to increase again.

It is stated that price fluctuations may continue in the short term, and it is stated that this metric is especially a positive signal for market prices in the medium and long term. Santiment says that this data can be a reassuring sign for investors with bullish expectations.