3 Altcoins Whales Are Selling Fast As October Ends

Whales are rapidly selling some major altcoins as October draws to a close. Since October 13, 2023, the total altcoin market Capital (excluding Bitcoin) has fallen more than 11%, from $1.62 trillion to $1.45 trillion.

This drop isn’t just due to falling prices — large investors have been steadily reducing their exposure. While some projects are still attracting quiet accumulation, there are three altcoins that whales are selling rapidly. This sell-off comes amid delayed breakouts, profit-taking, and declining confidence.

whale loses interest in Shiba Inu

Whales seem to be losing interest in Shiba Inu, which has been selling consistently since 10/18/2023.

Data shows that wallets holding large amounts of this meme coin have decreased in total from 697.88 trillion to 694.26 trillion, a decrease of about 3.62 trillion SHIB, worth about $355,000 at the current price of $0.0000098.

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This sell-off is consistent with Shiba Inu's chart setup. The Token has been stuck in a symmetrical triangle pattern since October 10, 2023, signaling indecision. Between October 14 and 20, 2023, the price formed lower highs while the Relative Strength Index (RSI), which measures price momentum, created higher highs.

This pattern is known as hidden bearish divergence, which usually signals that the downtrend will continue.

The overall picture supports that view. Shiba Inu has fallen 27.2% over the past three months, confirming the ongoing downtrend.

A daily close below $0.0000097 could take it down to $0.0000092, while a breakout above $0.000010 could open the doors towards $0.000011. However, whales do not seem to believe that such a SHIB price recovery is imminent.

Cardano whales reduce holdings

Crypto whales holding between 100 million and 1 billion ADA Token have started reducing their positions since October 17, 2023. Their total holdings have decreased from 4.07 billion ADA to 4.04 billion ADA, a decrease of about 30 million ADA, worth nearly $19 million at the current price of $0.63.

The timing of this sell-off was crucial. On October 17, 2023, ADA temporarily broke below the lower trendline of the ascending channel, which had only two touches and a weak structure. This breakdown appears to have caused a slight panic among whales.

Although the ADA price recovered afterward, the selling has not stopped, showing that confidence is still low.

Between October 13 and 20, 2023, the price made a lower high while the Relative Strength Index (RSI) made a slightly higher high, indicating a hidden bearish divergence. This pattern usually indicates a continuation of the trend (down 21% in the past three months) rather than a reversal. If ADA fails to hold $0.61, it could slide to $0.59 or even $0.50.

To invalidate this bearish outlook, ADA would need to clear the resistance level at $0.86, which is 36% above current levels. This level has capped many of Cardano ’s previous rallies. Until then, the upside target near $1.12 (channel breakout point) remains elusive — at least for now.

zora whale take profit

ZORA whales are taking profits. They are likely taking profits after a strong monthly rally. The Token has increased by more than 61% in the past 30 days but has fallen by 15.6% in the past week as large investors started selling.

Whale wallets reduced their holdings by 6.71%, cutting the total to 5.45 million ZORA. That means about 390,000 ZORA Token were sold in the past seven days.

ZORA price is showing some pause. After breaking out of the predicted inverted head and Vai pattern earlier this month, it is now consolidating within a symmetrical triangle, indicating a pause in momentum.

If the $0.091 level fails to hold, a deeper correction towards $0.083 or even $0.065 could occur.

However, this looks more like a profit-taking phase than a complete trend reversal. A daily close above $0.10 and then $0.11 would invalidate the short-term bearish setup, opening the door for a higher price move — and possibly sparking whale interest.