Crypto Whales Bought These Altcoins in the Third Week of November 2024

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As a seasoned researcher with over two decades of experience in the financial markets, I’ve seen trends come and go, but the recent surge in cryptocurrencies has been nothing short of fascinating. The market uptrend sparked by Donald Trump’s election victory has indeed brought about a new wave of trading activity, pushing many major cryptocurrencies to unprecedented highs.

As an analyst, over the past three weeks, I’ve observed a sustained market uptrend, which can be traced back to Donald Trump’s victory in the US presidential election on November 5. This bullish trend has ignited a surge in trading activity across various markets, particularly in the cryptocurrency sector. Notably, this increased activity has propelled many major cryptocurrencies to reach new record highs. Additionally, lower-cap tokens have experienced substantial value spikes, offering impressive returns for traders who capitalized on these opportunities.

As a crypto enthusiast, I’ve noticed that the big players in the market, often referred to as “whales,” have been actively building their portfolios. This week, they’ve been scooping up Dogecoin (DOGE), Ethereum (ETH), and Shiba Inu (SHIB).

Dogecoin (DOGE)

This week, among the various cryptocurrencies, Dogecoin – a popular meme coin – was one of those bought by significant investors, or “whales.” The substantial increase in their holdings during the review period, as indicated by IntoTheBlock’s data, has surged by an impressive 112% over the last seven days.

In simpler terms, when we talk about large holders, we’re referring to wallets associated with ‘whales’ – entities that possess more than 0.1% of an asset’s total circulating amount. The movement of these coins, known as netflow, represents the difference between the number of coins they buy and the ones they sell within a given timeframe. An increase in this netflow indicates that whale wallets are buying more coins. This is considered a positive or ‘bullish’ signal, suggesting a higher probability of a prolonged price rise.

Ethereum (ETH)

This week, Ethereum, another significant cryptocurrency, has drawn interest from large investors, or ‘whales.’ Remarkably, this attention came even as it was trading within a band of $3,396 to $3,043 for the past two weeks.

According to BeInCrypto’s analysis, large Ethereum holders (whales) with between 100,000 and 1,000,000 ETH have amassed an additional 380,000 ETH over the last week. This amounts to approximately $1.27 billion at present market values.

At present, I find that the value of this altcoin stands at approximately $3,342. Should the ‘whales’ persist in their investments, there’s a strong possibility that the coin could surge towards $3,500 within the immediate future.

Shiba Inu (SHIB)

This week, large-scale Shiba Inu investors, or “whales,” were observed by Santiment. On November 14th, the total amount of Shiba Inu (SHIB) held by addresses with between 10,000 and 1,000,000 SHIB was approximately 127 billion SHIB.

Currently, the total amount of SHIB has soared to 129 billion. This indicates that Shiba Inu coin holders collectively purchased approximately 2 billion SHIB over the last seven days. If this buying trend continues, it’s possible that the value of the meme coin could increase further.

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2024-11-23 00:14