DOGE whales accumulated $23.7 million this month. OP and PEPE Coin whales also continued to buy on dips this month. BTC price is moving away from $53,485 for now. While altcoins were rapidly melting, BTC was trying to recover from its daily bottom at press time and its price rose to $56,400. Yesterday, we mentioned that the real big drop might happen today, and so it happened. BTC fell from a peak of $58,800 to a low of $53,495.

So, which altcoins are whales buying this month?

Altcoins Bought by Whales

Whales represent large investors and are people who keep a certain amount of cryptocurrency in their wallets. This group has significant influence in the crypto community and their purchases can significantly impact the markets. Even in July, despite the decline, whales continued their purchases. Here are which altcoins they are interested in:

Dogecoin (DOGE)$DOGE

DOGE, whose price has fallen by nearly 25% in the last 24 days, has increased the purchases of cryptocurrency whales. IntoTheBlock's data shows that the activity of DOGE whales has increased significantly. In the first week of July, DOGE whales purchased $23.7 million at a price of $0.11. This represents a 175% increase over purchases in the last week of June.

Optimism (OP)

OP Coin, one of the major layer2 solutions built on Ethereum, has fallen by nearly 30% recently, although it has a significant number of investors. OP Coin whales contributed to July's declines by increasing their holdings by 11.27%.

PEPE Coin$PEPE

For PEPE Coin, there is a huge increase of 2237% in the purchases of the biggest whales. The whale interest in PEPE Coin in July can be explained by the fact that it offers the potential for rapid returns after the price recently broke a new all-time high.

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