Chainlink Could Hit $30 Soon; Here’s What Triggered LINK Price Surge

Chainlink (LINK) surged higher this week, fueled by a spike in dormant whale transactions alongside supporting technical signals that have analysts eyeing a continued run toward $30.

According to blockchain analytics platform Santiment, Chainlink just registered its highest-ever “Age Consumed” metric reading at 5.38 billion. Age Consumed calculates the product of tokens moved on-chain and the length of time they remained idle, offering clues on whale activity.

Also read: Cryptocurrency: 3 Altcoins That Could Outshine Bitcoin in February

Essentially, a lump of long-dormant LINK whales has abruptly awakened, transferring huge sums back into circulation. This influx from holders accumulating during Chainlink’s multi-year bull run likely kicked FOMO into high gear, contributing to LINK’s price jump as smaller players rush to chase gains.

Moreover, Santiment noted minor liquidations from wallets that historically signal fear and often precede further upside as nervous investors exit.

Chainlink could hit $30 soon

Technical analyst Michaël van de Poppe spies additional momentum ahead, tweeting that LINK has confirmed a higher price low while touting a “massive breakout” towards $25–30 should interoperability leader Ethereum help spearhead altcoin strength.

Also read: Why Chainlink (LINK) Is Gearing Up For $25-30 Breakout In Coming Months?

With Chainlink settling into bullish support near $18, van de Poppe believes LINK boasts serious upside potential.

According to data from CoinGecko, LINK has surged 14.7% in the last 24 hours. LINK is currently trading at $17.89, up from a 24-hour low of $15.48. LINK is also up by 30% in the last seven days.