Cryptocurrency whales are focusing on XRP, Dogecoin (DOGE), and Solana (SOL) as the upward momentum of the cryptocurrency market continues. All three tokens have seen significant increases over the past week thanks to the ongoing price surge and the interest of cryptocurrency whales in them likely causing further price increases.
While Solana's network activity is increasing as seen in the $41.2 billion DEX volume recorded last week, helping to raise SOL's market cap to $112 billion. This marks a 44% increase in Solana's market cap compared to 2021.
The technical indicators of SOL point to a cup and handle formation in the monthly price chart with a 54% average breakout profit potential and a success rate of 95%. All these indicators lead analysts to predict that SOL will rise to an all-time high of $260 and may aim for the $400 mark.
On the other hand, Dogecoin is gaining popularity on social media after Elon Musk was honored as one of the leaders of the Government Efficiency Department (DOGE). This meme coin is trending upward, causing it to surpass the resistance level of $0.32.
Most analysts are giving a positive outlook for Dogecoin, predicting the price will rise to $1 if it maintains above $0.42, which will continue to stimulate investor interest in this meme coin.
Meanwhile, Ripple's XRP maintains its position above $1.09 while facing upward momentum. XRP's RSI is running above 85 indicating buying momentum despite being in the overbought zone. This altcoin is likely to break the resistance level of $1.50 and continue to rise to the $2 mark. The increase in XRP's trading volume also means that both institutional and retail investors are interested in this coin.
Therefore, cryptocurrency whales have strategically positioned themselves to gain significant profits from XRP, DOGE, and SOL by investing in them as the cryptocurrency market's upward momentum continues. In this context, another altcoin, JetBolt (JBOLT), has also attracted the attention of cryptocurrency whales due to its unique features such as AI-powered in-depth analysis tools and emission-free technology aimed at changing the blockchain market. This token was launched in August this year with 66 million JBOLT sold.
At the time of writing, DOGE is trading at $0.377, down 4.97% in the past 24 hours while trading volume decreased by 22.28% to $9.26 billion and market capitalization is at $55.40 billion. Meanwhile, SOL is down 2.99% to $234 with a market cap of $111.41 billion while trading volume increased by 7.91% to $6.85 billion. Meanwhile, XRP is down 2.15% in the past 24 hours to $1.09 with trading volume increasing by 12.14% to $6.56 billion while market cap decreased to $62.11 billion.
