Altcoins are attracting significant interest from crypto whales. This week, the top tokens purchased by crypto whales are: Dogecoin (DOGE), Litecoin (LTC), and Ripple (XRP).
Dogecoin (DOGE) attracted everyone
Dogecoin is one of the top altcoins that crypto whales have been buying this week. This more than positive development is notably linked to the bullish sentiment around this same coin since Donald Trump approved Elon Musk’s proposal concerning the Department of Government Efficiency for the new American administration (DOGE).
On November 8, the net flow of large holders showed a negative reading, indicating that whales had sold. This metric tracks the number of coins bought or sold by large investors. Currently, the situation is different, this same metric has increased to 1.72 billion.
To go further: buy Dogecoin on Binance.
At the current Dogecoin price, this figure indicates that crypto whales purchased approximately 636 million DOGE this week. This accumulation also had an impact on the value of the cryptocurrency. Over the past seven days, DOGE’s price has increased by 85% and surpassed the market capitalization of XRP.
If the whales continue to buy, the price of Dogecoin could rise above $0.37 and, above all, stay above it. Otherwise, the cryptocurrency could remain stable and move sideways.
Litecoin (LTC): the return of a dinosaur
Litecoin is another of the altcoins that crypto whales have been buying this week. As of November 11, 6.33 million LTC was held by addresses with between one million and ten million coins.
Currently, this number has risen to 7.57 million. This tells us that crypto whales disbursed no less than $106 million worth of Litecoin during this second week. As with DOGE, this accumulation also impacted the value of the altcoin.
Over the past seven days, Litecoin price has increased by 20% and is currently trading at $85.87. If the accumulation continues, LTC could then move closer to $100. Conversely, if they decide to withdraw, the price could fall.
Ripple (XRP) soon above the dollar
Finally, crypto whales also bought Ripple (XRP) in large quantities this week. This strong accumulation could be linked to Robinhood’s decision to relist the token. Additionally, speculation over a possible resignation of SEC Chairman Gary Gensler also spurred accumulation.
To go further: price predictions for XRP 2024, 2025 and 2030.
For example, since November 12, we have noticed that large holders of XRP have increased their positions. All the statistics point to significant purchases by crypto whales. The combined total is 310 million tokens valued at approximately $267 million.
As a result, the price of XRP increased by 56% over the past week while trading at $0.87. If whales continue to invest, the price could move closer to and exceed the dollar. Otherwise, it could experience a drop in speed.
Disclaimer
Disclaimer: In accordance with The Trust Project guidelines, this price analysis article is intended for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to providing accurate and unbiased information, but market conditions may change without notice. Always do your own research and consult a professional before making any financial decisions.
