This week, trading activity has revived, and the market capitalization of the global cryptocurrency market has increased by 10%. As a result, large coin holders, or whales, have started accumulating specific coins.
Bitcoin (BTC), Notcoin (NOT), and Dogecoin (DOGE) have become their primary choices.
Bitcoin (BTC)
BTC is currently trading at $67,871, and it recorded an 11% price increase last week. As the leading coin, BTC is approaching its all-time high, and BTC whales have continued to increase their coin holdings.
Over the past 7 days, cryptocurrency whales holding between 10,000 and 1 million coins have purchased an additional 20,000 coins worth over $135 million at the current market price. This investor group now holds 3.05 million coins.
Read more: How to Trade Bitcoin Futures: A Comprehensive Guide
If this accumulation trend continues, the king of coins will successfully break through the $68,000 resistance level and rally to recover its all-time high of $73,750.
Notcoin (NOT)
Notcoin, associated with Telegram, is another coin that cryptocurrency whales have purchased this week. According to IntoTheBlock, their large holder net inflow surged by over 2000% in the past 7 days.
Large holders are whale addresses holding more than 0.1% of the circulating supply. Their net inflow measures their buying and selling activity.
When it surges like this, whales have been accumulating more coins. Conversely, a decrease indicates these addresses have been selling their coin holdings.
Read more: Top 10 Best Altcoin Exchanges in 2024
Dogecoin (DOGE)
The major meme coin, Dogecoin (DOGE), also caught the attention of cryptocurrency whales this week. According to IntoTheBlock's data, the large holder net inflow for this coin surged by over 2200%. As of October 17th, this amounted to 52.7 million DOGE (worth around $71.46 million), which is the highest level since the beginning of the month.
Read more: Dogecoin (DOGE) Price Prediction 2024/2025/2030
The recent surge is due to the fact that the value of the major meme coin increased by double digits over the past week. Currently trading at $0.13, Dogecoin has risen 23% during this period and is one of the best-performing large meme coins in terms of market capitalization.
