This week we witnessed a noticeable surge in cryptocurrency trading activities. The momentum peaked at a record high of $111,988 on Thursday.
The new bullish momentum across the market has attracted attention from whales, who have been actively accumulating select altcoins.
dogecoin (doge)
Major Meme Coindge Coin is one of the most popular assets of crypto whales this week. Data from Santiment shows an increase in coin retention for addresses that own 100 million to 1 billion Doge tokens.
During the week of reviews, this cohort of Doge holders acquired 740 million tokens worth more than $180 million at current market prices.
This rally is because wider market demand has made Doge more valuable over the past few days. Meme Coin is currently trading at $0.24 at a 10-day high. This reflects new investors’ interest amid growing bullish sentiment across the crypto market.
Manufacturer (MKR)
MKR is the governance token behind the general distributed financial (DEFI) protocol Makerdao, another asset that has surged into whale activity this week.
This is evidenced by large owner Netflow, which has increased by 469% over the past seven days, per Intotheblock.
Large-captain Netflow measures the difference in the amount of tokens a whale buys and sells over a specified period. Such a surge indicates a strong accumulation by whales, suggesting a stronger confidence and a bullish outlook for assets.
Additionally, a triple-digit surge in large holder Netflow could encourage retailers to increase their MKR accumulation. If this continues, AltCoin can begin a new rally phase.
Official Trump (Trump)
Official Trump (Trump) is another altcoin with crypto whale activity increasing this week. In a look ahead to yesterday’s dinner, when President Trump hosted the owners of his top 220 meme coins, Whale is buying up a big position.
According to Nansen, smart money inflows into Altcoin have exceeded $1.4 million in the last seven days, indicating a growing interest from high-convicted investors.
Smart money usually includes players from hedge funds and institutions known for making well-timed moves in the market. The surge in Trump’s influx suggests confidence in its short-term potential, and can foreshadow a continuous upward trend if momentum applies.
Disclaimer
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