The cryptocurrency market has seen significant volatility this week. Whales have continued to dominate the market by making heavy purchases in notable altcoin projects such as Dogecoin, Litecoin, and Ripple. Here are three major altcoins that have entered the whales’ radar this week and their potential bullish scenarios:
Dogecoin: Joke or Serious Investment?$DOGE
Dogecoin, although initially launched as a meme token, has become a significant investment vehicle thanks to the support of celebrities like Elon Musk and a strong community. Dogecoin, which has attracted the attention of whales again this week, saw a huge wave of purchases in the US after Elon Musk’s statements about government efficiency. The price increased by 85% with $636 million worth of Dogecoin purchases. DOGE, which is currently trading at $0.35, is very close to testing $0.37. However, it should also be kept in mind that the price may follow a sideways trend if the buying pressure decreases.
Another Altcoin on the Whales’ Radar: Litecoin$LTC
Litecoin has been known for years as a faster and lighter alternative to Bitcoin, which has been called “digital gold.” This week, whales have been buying Litecoin heavily. Wallets holding between 1 million and 10 million LTC have made purchases totaling $106 million. Following these purchases, Litecoin’s price has increased by 20% to $85.87. If this momentum continues, Litecoin could test the $100 level. However, if the buying pressure decreases, the price could fall back to $80. It is important for investors to be cautious and follow the support and resistance levels.
Ripple: Strong Performance Despite Uncertainties
Ripple is performing strongly despite the uncertainties surrounding the SEC case. Robinhood’s decision to list XRP and rumors of Gary Gensler resigning have increased interest in Ripple. Whales have bought around $267 million worth of XRP, sending the price up 56%. XRP is currently trading at $0.87 and is likely to break the $1 level if the momentum continues. However, regulatory uncertainties could weigh on the price. Investors should consider these risks and plan their moves accordingly.
Critical Tips for Altcoin Investors
This week, whales’ buying behavior has once again highlighted the opportunities and risks in the market. While Dogecoin, Litecoin, and Ripple are giving strong buy signals, the crypto market can be full of surprises at any time. Investors should evaluate major buying opportunities while also being prepared for sudden corrections and managing their risks correctly.
