Whale watchers have detected large investor transactions surrounding 3 altcoin projects in recent days. Especially Dogecoin is in close contact with whales after the 30% Twitter rally.
Data shows a new altcoin whale received 172.2 million DOGE from Binance
Lookonchain recently tweeted that a new Dogecoin (DOGE) wallet has received 172.2 million DOGE from Binance. According to the tweet, the value of the DOGE amount at the time of the transfer was $14.33 million.
The sharing continued by adding that a whale bought DOGE with the effect of Elon Musk changing the Twitter logo. cryptocoin.comAs you follow, it was up 27% for the last 24 hours with this move. Its price is currently moving down around 1.5% on a daily and weekly scale.
DOGE not only weakened against the US Dollar, but also weakened by 1.58% and 0.60%, respectively, against the two crypto leaders Bitcoin (BTC) and Ethereum (ETH). The downward momentum has continued since Twitter reinstated its logo.
XRP and Bitcoin transfers
According to another whale watcher Whale Alert, massive amounts of Bitcoin (BTC) and XRP were transferred by crypto whales over the weekend. The total value of crypto-assets moved exceeds $650 million, indicating a high level of activity among deep-pocketed investors.
The largest single transaction involved 6,582 BTC worth approximately $182.6 million moved from one anonymous wallet to another. This was followed by several other BTC transfers between anonymous wallets and crypto exchanges, ranging from 1,001 BTC to 5,000 BTC. The total amount of BTC carried by the whales in 24 hours was over 21,000 BTC and was worth about $587.4 million.
Meanwhile, the XRP whales have also been busy growing their purse. The largest XRP transaction was 100 million XRP worth approximately $53.4 million sent from one anonymous wallet to another. Other notable XRP transfers included 95 million XRP and 31.7 million XRP moving between anonymous wallets and crypto exchange Bitstamp. The total amount of XRP carried by the whales in 24 hours was over 246 million XRP worth approximately $132.8 million.
Can loaded whale transactions cause selling pressure?
The reason behind these major crypto moves is unclear, but they could signal a shift in sentiment or strategy among major players in the crypto space. Some whales can make profits or adjust their portfolios, while others can accumulate more crypto assets or prepare for future market movements.
Whatever the case, these whale transactions show that there is still a lot of interest and activity in the crypto market despite the sideways trading that has dominated the scene lately. Bitcoin is trading around $27.p00, down 0.5% in the last 24 hours, while XRP is trading around $0.50, down 1.5% over the same period.
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