Historically, the 4th quarter has often brought significant gains to cryptocurrencies, and as November begins, crypto whales are strategically positioning themselves for potential profits.
These large holders have a significant impact on price trends and are closely monitoring assets with strong growth potential. By analyzing on-chain data, BeInCrypto has identified the altcoins that crypto whales are purchasing this month, providing valuable insights to retail investors who wish to follow the "smart money" in the cryptocurrency market.
Maker (MKR)
MKR, the governance token of the Maker protocol, tops the list of tokens that crypto whales are purchasing for potential gains in November.
According to IntoTheBlock, the net inflows of large holders, which measure the difference between assets purchased and sold, have increased. A positive reading of this metric indicates that crypto whales have purchased more than they have sold.
A negative reading means they have sold more coins. On October 30th, the net inflows were 85.67 million, but at the time of writing, they have increased to 5,660 MKR tokens, meaning whales have purchased 5,575 tokens this week.
Read more: Who Will Own the Most Bitcoin by 2024?
Given the current token price, this indicates that crypto whales have purchased over $7 million worth of MKR. If this accumulation continues this month, the altcoin's price could surge to over $1,284 in the short term.
Ripple (XRP)
Another token that crypto whales are purchasing is XRP, the native token of the Ripple blockchain payments project. In October, XRP's price declined by 12%, and crypto whales were unable to accumulate many tokens.
However, the situation has changed since October 31st until the time of writing. According to Santiment, crypto whales have purchased around 200 million XRP. At the current price, this accumulation is worth over $100 million.
Generally, when crypto whales purchase XRP, the price tends to rise. Therefore, if the accumulation continues, XRP may be able to recoup some of its recent losses. However, if the whales cease their purchases in the first few days of the month, the prediction may be invalidated.
Pepe (PEPE)
Another coin that crypto whales are purchasing for potential gains in November is Pepe. In October, Pepe, one of the best-performing meme coins in the market, was unimpressive.
This may be due to liquidity flowing out of PEPE as attention shifted to other meme coins. However, the net inflows of large holders have increased noticeably in the past week, suggesting that crypto whales are confident in PEPE's performance this month.
Read more: Pepe (PEPE) Price Prediction 2024/2025/2030
If this trend continues, PEPE's price could surge above $0.0000092. However, if crypto whales cease their token purchases, the price may decline.
