The market rally triggered by Donald Trump's victory in the US presidential election on November 5 has entered its third week. Trading activity has increased, with major cryptocurrencies reaching new all-time highs, and small tokens have seen dramatic value increases, bringing significant profits to traders.
Crypto whales have also taken notice and increased their accumulation of certain assets. This week, their shopping list included Dogecoin (DOGE), Ethereum (ETH), and Shiba Inu (SHIB).
Dogecoin (DOGE)
The leading meme coin Dogecoin is one of the altcoins that crypto whales have purchased this week. Data from the on-chain data platform IntoTheBlock shows that the net inflow of large holders has surged by 112% over the past 7 days.
Large holders are defined as whale addresses holding at least 0.1% of the circulating supply. Their net inflow tracks the difference between the coins they have purchased and sold during a specific period. An increase in this metric suggests that whale addresses have been accumulating more coins, which is a positive signal for the potential of a sustained rally.
Ethereum (ETH)
Ethereum is another crypto asset that has caught the attention of whales this week, despite the fact that it has been in a correction between $3,396 and $3,043 over the past 14 days.
According to BeInCrypto's evaluation of the ETH supply distribution, whale addresses holding between 100,000 and 1,000,000 ETH have accumulated an additional 380,000 ETH over the past 7 days, which is worth approximately $1.27 billion at the current market price.
At the time of writing, this altcoin is trading at $3,342. If whales continue to pour funds into this altcoin, the price could rise to $3,500 in the short term.
Shiba Inu (SHIB)
Shiba Inu whales have also emerged this week. According to Santiment, on November 14, the balance of addresses holding between 10,000 and 1,000,000 SHIB was 127 billion SHIB.
At the time of writing, this figure has surged to 129 billion SHIB, meaning that this group of SHIB holders has purchased an additional 2 billion SHIB during the review period. If the accumulation continues, the value of the meme coin could rise further.
