Jakarta, Pintu News – Crypto Whales and This Month’s Altcoin Accumulations
This month has proven to be intriguing for cryptocurrency enthusiasts, particularly with the behavior of crypto whales—and no, we’re not talking about aquatic mammals. Rather, these whales are the large-scale investors making strategic moves in the altcoin market, even amidst significant price declines. As expectations mount for an interest rate cut by the Federal Reserve in October, many believe these big investors are positioning themselves to benefit from upcoming shifts in the market. Here’s a closer look at three key altcoins currently attracting attention from these whales, as reported by BeInCrypto.
Dogecoin (DOGE)
First on the list is Dogecoin (DOGE), a cryptocurrency that has recently become the darling of the altcoin scene. Despite experiencing a drop of more than 34% over the past month, data suggests that notable investor groups—those holding between 100 million to 1 billion DOGE—have started stacking up their supplies since October 16.
Whale Accumulation Insights
During this period, the total holdings of these whale groups increased substantially, climbing from 28.16 billion DOGE to 29.61 billion DOGE—an addition of approximately 1.45 billion DOGE, valued at around $268 million.
On the technical analysis front, the Relative Strength Index (RSI) for DOGE is indicating a standard bullish divergence on the daily chart, which often implies a potential trend reversal on the horizon. If DOGE can maintain daily closes above $0.188 and $0.217, it may signal a strong recovery. However, vigilance is required; should it fall below $0.170, this bullish momentum might dissipate quickly.
Cardano (ADA)
Next up is Cardano (ADA), another altcoin catching the attention of crypto whales. Similar to DOGE, ADA’s price has declined—this time by nearly 32% in the past month. Notably, two distinct groups of whales have ramped up their accumulating strategies.
Whale Accumulation Details
The larger group, which holds more than 1 billion ADA, began increasing their stakes on October 12, boosting their holdings from 1.5 billion to 1.59 billion ADA. Additionally, a second group—wallets possessing between 100 million to 1 billion ADA—started buying on October 13, ultimately adding 3.91 billion to 4.07 billion ADA on October 14, 16, and 17.
By the time of this writing, the current Cardano price settles around $0.62, indicating that whales have poured in roughly $150 million worth of ADA within a matter of days. The price and RSI are exhibiting a strong bullish divergence, suggesting that bearish momentum is softening, which could imply a potentially favorable shift for ADA investors.
BROCCOLI (CZ’s Dog)
Though less recognized, BROCCOLI (CZ’s Dog) is starting to make waves in the crypto community. With only a modest decrease of 4.4% in the past 24 hours and seven-day losses capped at 2.4%, BROCCOLI is displaying notable resilience against the wider market downturn.
Whale Accumulation Analysis
Recent data indicates that whale holdings in BROCCOLI have surged by 8.9% within a single day. Moreover, mega whales—identified as the top 100 addresses—amplified their holdings by 0.65%, leading to over 7 million BROCCOLI tokens amassed in 24 hours, which translates to nearly $170,000.
Interestingly, the Money Flow Index (MFI) reveals a clear bullish divergence, suggesting that despite slipping prices, retail inflows are on the rise. This trend points towards a collective strategy of accumulation rather than panic selling—a promising sign for potential investors.
Amidst an ever-evolving landscape shaped by macroeconomic factors like anticipated interest rate cuts, the strategic maneuvers of crypto whales offer both insights and opportunities. By closely monitoring the movements in altcoins like Dogecoin, Cardano, and BROCCOLI, investors may find valuable opportunities as the market pivots in response to changing economic indicators.
