Whale watching bots drew attention to 3 altcoin projects that saw heavy accumulation in the last weeks when the market was in the process of recovery. Especially DyDx has been on the radar of big investors since October.
Altcoin whales have been accumulating DyDx for the past three months
A huge anonymous whale has been collecting DYDX along with other major wallets since October 2022, according to on-chain data shared by Lookonchain. Whales have added more than $21 million in DYDX tokens so far. The last buy took place just before the rise of DYDX.
From a performance perspective, DYDX mostly follows market trends. At the end of December, the price of DYDX hit a multi-month low, marking this point as a bottom. It rose steadily after that, providing substantial profits to the whales that began accumulating in October last year.
Cardano is also on whales’ radar, analysts expect higher levels
According to veteran crypto analyst Ali Martinez, Cardano (ADA) could rise higher if the demand wall established in the $0.365 to $0.376 price range is held. ADA failed to recapture pre-FTX highs during the previous market-wide rally. But lows could set the ideal backdrop for an opportunity to move into the price zone.
Martinez examines ADA’s movements in the $0.365 to $0.376 range, citing data from IntoTheBlock. IntoTheBlock data reveals that approximately 91.94 thousand addresses purchased 4.39 billion ADA at an average price of $0.370 in the range of $0.365 to $0.376. This set of demands has created a wall that serves as a crucial support for ADA. Martinez believes that if this wall takes hold, Cardano could rise to higher levels.
Biggest Ethereum whales pile up this altcoin project amid bullishness
According to data provided by WhaleStats, the 168th largest ETH whale named “Boromir” is 120 billion Shiba Inu (SHIB), worth $1.45 million in the last 24 hours. According to data provided by Etherscan.io, the major purchase took place about 12 hours ago via Paribu, Turkey’s leading cryptocurrency trading platform.
Installed Shiba Inu purchases may be linked to the recently clarified Shibarium launch date. cryptocoin.com We have included hot developments from Shiba in this article. In terms of price, SHIB is currently facing resistance in the $0.0012 range, with the token falling from its previous highs of $0.001295 and $0.00125 on Jan. 18 and Jan. 22, respectively. If SHIB can break through this range, its next target will be $0.0000136. The upward trend in price could continue with potential targets at $0.0000151 and $0.0000179.
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