In October 2024, whales have been accumulating large amounts of various cryptocurrencies, which has generated significant movements in the market.
1. XRP (Ripple): Whales have been purchasing large amounts of XRP, accumulating nearly $300 million between late September and early October. This activity suggests that whales are anticipating a potential surge in the price of XRP as more tokens are unlocked.
2. Dogecoin (DOGE): Over the past 24 hours, whales have purchased over 1 billion DOGE, which is equivalent to about $109 million. This type of accumulation has already led to a 5% increase in the price of DOGE, and some analysts believe this could trigger an even bigger rally in the coming days.
3. Ethereum (ETH): Since mid-August, whales have been on a massive Ethereum buying spree. In a single day in September, they purchased over $800 million worth of ETH, reflecting their confidence in a long-term price recovery.
These massive purchases by whales may indicate significant price movements for these cryptocurrencies in the near future, which could benefit investors who take advantage of these trends.
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