In the past week, a surge in trading activity has led to a 10% increase in the overall cryptocurrency market value.
During this period, whales have begun accumulating significant amounts of various cryptocurrencies, including Bitcoin, Notcoin, and Dogecoin.
Whales Gobble Up Bitcoin, Notcoin, and Dogecoin
Bitcoin (BTC)
Bitcoin’s price has reached $68,410, marking a more than 9% increase over the past week. As the cryptocurrency approaches its all-time high, Bitcoin whales are consistently boosting their holdings. In the last week alone, whales holding between 10,000 and 1 million Bitcoin purchased 20,000 coins, valued at over $1.35 billion, now controlling a total of 3.05 million Bitcoin. If this accumulation trend continues, Bitcoin may aim for its historical peak of $73,750 after breaking through the resistance level around $68,000.
Notcoin (NOT)
Notcoin has also seen increased buying activity from crypto whales this week. According to IntoTheBlock, the net inflow of whales into this cryptocurrency has surged by over 2,000%.
Dogecoin (DOGE)
Dogecoin has captured the attention of whales as well. Data from IntoTheBlock indicates that the net inflow of Dogecoin whales has skyrocketed by more than 2,200%, reaching 527 million Dogecoin (approximately $71.46 million) as of October 17. This surge follows a notable price increase of over 30% for Dogecoin over the past week.
As whales continue to accumulate these cryptocurrencies, market dynamics may shift, potentially leading to further price movements in the near future.