Whales are accumulating three altcoins that have made headlines recently
Ethereum whales are accumulating as the market expects more inflows to spot exchange-traded funds. On-chain data shows that net inflows by whales have increased by 167% in the past seven days
Holeholders are addresses that hold more than 0.1% of an asset's circulation. The net flow of whales measures the difference between what these investors bought and sold in a certain period. When this metric rises, it indicates that whale addresses are buying more assets
Ethereum is trading at $3,311. It is preparing to surpass its 20-day exponential moving average (EMA), which tracks the average price over the past 20 trading days. Such a crossover usually indicates increased buying pressure. If this happens, the price of Ethereum could rise to $3,448
PEPE whale addresses hit a new high, with 85,400 addresses now holding 10,000 to 10 million PEPE tokens, the highest since its launch in April 2023. The number of such holders surged 12% last month, even as the token price remained sideways
PEPE whales have recently increased their holdings of the token due to the profitability of holding it. The memecoin is currently overvalued based on the market value to realized value (MVRV) ratio reading, indicating that investors may sell to profit
Based on various moving averages, PEPE's MVRV ratio is positive. Specifically, the 30-day and 365-day moving averages record MVRV ratios of 8% and 97.58%, respectively. However, it is worth noting that continued selling could put downward pressure on PEPE's price. If selling pressure starts to outstrip supply, the value of memecoin could fall to $0.0000099
Ondo Finance’s governance token ONDO has reportedly seen an increase in inflows from large holders over the past 30 days. The number has increased by 19% during this period
The data tracks the amount of cryptocurrency flowing into large holders’ wallets. When it rises, it indicates increased buying pressure from large holders. If ONDO whales continue to hoard in August, they could push the altcoin’s price to $0.99.
But if profit-taking activity persists, it will put downward pressure on the token’s price, potentially causing it to fall to $0.84$PEPE $MEME
