The analysis company warns about whale activities for these 6 Altcoins

The analysis company Lookonchain has warned about whale activities related to the altcoin Illuvium (ILV), with two well-known whales making significant trades recently. The whale luggis.eth sold 20,000 ILV, worth about 1.33 million USD, causing the ILV price to drop by about 13%. Another whale transferred 65,753 ILV to Binance, which could lead to a sell-off.

Besides Illuvium, other altcoins that whales are currently accumulating include Fantom (FTM), Dogecoin (DOGE), and Optimism (OP). Whales are accumulating FTM due to the transition from Fantom to Sonic, while the amount of DOGE held by whales has recently increased to 1.72 billion USD. Optimism is also attracting the attention of whales with expectations of price increases as the price of Ethereum rises.

Meanwhile, whale activity on Ethereum is at its highest in 14 weeks, indicating renewed interest from large investors. These trades could create significant selling pressure or buying opportunities, depending on the actions of whales in the market.