Whales have been buying large amounts of Dogecoin (DOGE), Injective (INJ), and PAAL AI (PAAL), highlighting the growing interest in these coins. Dogecoin whale addresses have risen from 660 to 671 over the past week, with a 5% price increase, bringing its market cap close to $47 billion.
Injective has seen a renewed whale buildup, with headline numbers consistently rising, coinciding with a 6% week-over-week price increase and a $2 billion market cap. Meanwhile, PAAL has surged 94% in 30 days, driven by the crypto and AI narrative.
Dogecoin (DOGE)
The number of addresses holding between 10 million and 100 million Dogecoins increased from 660 on December 20 to 671 on December 26, reflecting a continued whale accumulation trend. This growth coincides with a 5% rise in Dogecoin’s price over the past seven days, bringing its market cap close to $47 billion.
The continued rise in large volume holders highlights the growing interest among major market participants, which could support the stability of the token price.
Number of addresses holding between 10 million and 100 million Dogecoins.
However, Dogecoin’s daily trading volume dropped by 7.5%, indicating a decline in spot market activity. However, the continued accumulation by whales indicates continued confidence in the asset, which could pave the way for future price growth.
If the accumulation trend continues, Dogecoin may maintain its upward momentum, but the decrease in volume also calls for caution, as low trading activity could limit price volatility in the near term.
Injective (INJ)
After a period of inactivity, the whales resumed their injective accumulation since December 19.
The number of addresses holding between 100,000 and 1,000,000 injectibles increased from 40 to 43, while the number of addresses holding between 10,000 and 100,000 injectibles increased from 84 to 90 during the same period.
Number of addresses held between 10,000 and 100,000 INJ and between 100,000 and 1,000,000.
Injective has gained 6% in the past seven days, and recently reached a market cap of $2 billion. The increase in whale activity indicates confidence among large investors, which could support the token’s upward momentum.
This accumulation trend could act as a positive signal for INJ price in the short term, strengthening its recent performance and attracting additional market interest.
PAAL AI (PAAL)
Whales have been buying PAAL AI, which has surged 94% over the past 30 days, benefiting from growing interest in projects at the intersection of crypto and AI. The number of wallets holding between 100,000 and 1,000,000 PAAL has increased from 477 on December 19 to 490, with the number holding steady over the past two days.
Number of addresses holding between 100,000 and 1,000,000 PAAL.
The stability in the portfolio numbers, despite the large increase in price, indicates that investors are holding their positions rather than selling on force. This may reflect confidence in PAAL for future growth potential.
However, the stable activity of the wallets also suggests that the token may be entering a consolidation phase, as market participants wait for the next catalyst to determine its short-term direction.