Whales have purchased significant amounts of Dogecoin (DOGE), Injective (INJ), and PAAL AI (PAAL), highlighting the growing interest in these cryptocurrencies.
DOGE saw its whale addresses rise from 660 to 671 over the past week, alongside a 5% increase in price, bringing its market cap close to $47 billion.
INJ has seen fresh accumulation by major players, with the number of key addresses rising steadily, coinciding with a 6% weekly price gain and a market cap of $2 billion. Meanwhile, PAAL has soared 94% in 30 days, driven by the crypto-AI narrative.
Dogecoin (DOGE)
The number of addresses holding between 10 million and 100 million DOGE increased from 660 on December 20 to 671 on December 26, reflecting a continued trend of whale accumulation. This growth coincides with a 5% increase in the memecoin’s price over the past seven days, bringing its market cap to close to $47 billion.
The steady rise of large holders highlights growing interest among key market participants, which could potentially support token price stability.
Number of Addresses Holding Between 10 Million and 100 Million DOGE. Source: Santiment
However, daily trading volume fell by 7.5%, suggesting a decrease in immediate market activity. Despite this, continued accumulation by whales indicates sustained confidence in the asset, potentially setting the stage for future price growth.
If the accumulation trend continues, DOGE could maintain its upward momentum, but the drop in volume also calls for caution as reduced trading activity could limit price volatility in the short term.
Injective (INJ)
After a period of inactivity, cryptocurrency whales have resumed accumulating INJ since December 19. The number of addresses holding between 100,000 and 1 million INJ increased from 40 to 43, while those holding between 10,000 and 100,000 grew from 84 to 90 during the same period.
Number of Addresses That Have Between 10,000 and 100,000 INJ and Between 100,000 and 1 Million. Source: Santiment
Injective has gained 6% over the past seven days, recently reaching a market cap of $2 billion. The increase in whale activity suggests confidence among significant investors, potentially supporting the token’s upward momentum.
This accumulation trend could act as a positive signal for the price in the short term, reinforcing its recent performance and attracting additional market attention.
POLE IA (POLE)
Whales have been buying PAAL AI, which is up 94% in 30 days, benefiting from growing interest in projects at the intersection of crypto and artificial intelligence. The number of wallets holding between 100,000 and 1 million PAAL has increased from 477 on December 19 to 490, with that number stabilizing over the past two days.
Number of Addresses Holding Between 100,000 and 1 Million PAAL. Source: Santiment
The stabilization in the number of holdings despite the significant price increase indicates that investors are holding their positions rather than selling on the rise. This may reflect confidence in PAAL’s potential for future growth.
However, the stable wallet activity also suggests that the token may be entering a consolidation phase, where market participants await the next catalyst to determine its direction in the near term.
The article Whales bought 3 cryptocurrencies this week appeared first on BeInCrypto Brasil.
