Crypto Whales Bought These Altcoins in the Fourth Week of December 2024

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As a seasoned crypto investor with over a decade of experience navigating the ever-changing digital asset landscape, I find myself intrigued by recent whale activity surrounding Dogecoin (DOGE), Injective (INJ), and PAAL AI (PAAL).

Whales bought significant amounts of Dogecoin (DOGE), Injective (INJ), and PAAL AI (PAAL), highlighting the increased interest in these coins. DOGE saw its whale addresses rise from 660 to 671 over the last week, alongside a 5% price increase, bringing its market cap near $47 billion.

Recently, INJ has seen an increase in whale activity as significant address numbers have been on the rise, accompanied by a 6% weekly price increase and a $2 billion market capitalization. On the other hand, PAAL has skyrocketed by 94% over the past month, fueled by the growing interest in crypto-AI.

Dogecoin (DOGE)

The number of addresses holding between 10 million and 100 million DOGE increased from 660 on December 20 to 671 on December 26, reflecting a continued trend of whale accumulation. This growth coincides with a 5% rise in DOGE price over the last seven days, bringing its market cap close to $47 billion.

The rising number of significant investors indicates a growing curiosity among major players in the market, possibly contributing to the token’s price consistency.

Nevertheless, it appears that the 24-hour trading volume of Dogecoin has dropped by 7.5%, implying reduced short-term market action. Yet, the continued buying by big investors points to a lasting faith in the coin, possibly setting up conditions for future price increases.

If the pattern of increasing value persists, Dogecoin (DOGE) might sustain its positive trajectory. However, it’s important to exercise caution due to the decrease in trading activity, as less market engagement may dampen short-term price fluctuations.

Injective (INJ)

After a period of inactivity, whales have resumed accumulating INJ since December 19.

During that time frame, the number of wallets containing between 100,000 and 1,000,000 INJ coins rose from 40 to 43. At the same time, wallets holding between 10,000 and 100,000 INJ increased from 84 to 90.

Over the past week, Injective has experienced a 6% growth and just surpassed a market capitalization of $2 billion. This surge seems to be driven by an uptick in whale trading, indicating faith from major investors which may fuel the coin’s further price rise.

The increasing collection of INJ may serve as a favorable indication for its short-term price, strengthening its recent momentum and drawing further interest from the market.

PAAL AI (PAAL)

As an analyst, I’ve observed a significant surge in the value of PAAL AI, a cryptocurrency project that intersects artificial intelligence and blockchain, following its acquisition by Whales. Over the past month, PAAL has seen a remarkable increase of 94%. This upward trend appears to be fueled by growing investor interest in projects that combine crypto and AI technologies.

Despite a notable rise in prices, the consistency in balances suggests that investors are choosing to maintain their investments instead of cashing out during the upswing. This might be an indication of their faith in PAAL’s ability to continue growing.

From my analysis, the consistent wallet activity indicates we might be moving into a consolidation period for the token. During this phase, market players seem to be holding their ground, awaiting the next significant event or catalyst that could influence the token’s immediate trajectory.

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2024-12-27 23:09