In the second week of November, major market players actively invested in several #Altcoins👀🚀 . We tell you which coins the whales noticed.
Investors are closely monitoring the actions of cryptocurrency whales, as they can greatly affect prices. This time, Dogecoin (DOGE), Litecoin (LTC) and Ripple (XRP) were targeted.
Dogecoin (DOGE)
The interest of cryptocurrencies in Dogecoin may be related to the approval of the Department of Public Administration Efficiency proposed by Elon Musk for the new US administration.
On November 8, the net inflow of large holders showed a negative value, indicating a predominance of sales. However, at the time of writing, the figure has increased to 1.72 billion $DOGE
. This means that the whales bought tokens worth about $636 million.
The accumulation has significantly affected the value of the coin: over the past seven days, the price of DOGE has soared by 85%. If the whales continue to buy, Dogecoin could break above $0.37 next week. Otherwise, the cryptocurrency will continue to trade in the range.
Litecoin (LTC)
On November 11, addresses holding between 1 million and 10 million $LTC
held 6.33 million coins. At the time of writing, their balance has grown to 7.57 million: this means that the whales have bought tokens worth about $106 million.
As in the case of DOGE, such a large-scale accumulation has significantly affected the price of the altcoin. Over the past seven days, the Litecoin exchange rate has increased by 20%, rising above $85.87. If the whales continue to build up the balance, LTC could approach $100.
Ripple (XRP)
Cryptocurrencies have also been actively buying Ripple this week. This could be due to the debut of the token on Robinhood and rumors about the possible resignation of SEC Chairman Gary Gensler.
So, on November 12, addresses with a balance of 1 million to 10 million $XRP
held 3.82 billion coins, and wallets with a balance of 10 million to 100 million held about 6.79 billion. At the time of writing, these figures have increased to 3.97 billion and 6.95 billion, respectively. This means that cryptocurrencies have acquired a total of 310 million tokens worth about $267 million.
