Crypto Whales Bought These Coins in the Third Week of October 2024
10/19/2024 01:00
Crypto whales accumulated Bitcoin, Notcoin, and Dogecoin during October's third week, boosting market confidence and price rallies.
This week has seen a resurgence in trading activity, with a notable 10% increase in the global crypto market capitalization. As a result, large coin holders, also known as whales, have started accumulating certain coins.
Bitcoin (BTC), Notcoin (NOT), and Dogecoin (DOGE) have emerged as their top choices.
Bitcoin (BTC)
BTC currently trades at $67,871, noting an 11% price uptick over the past week. As the leading coin approaches its all-time high, BTC whales have steadily increased their coin holdings.
Over the past seven days, crypto whales that hold between 10,000 and 1,000,000 coins have added 20,000 coins valued above $1.35 billion at current market prices. This cohort of BTC investors currently holds 3.05 million coins.
Read more: Where to Trade Bitcoin Futures: A Comprehensive Guide
If this accumulation trend continues, the king coin will successfully breach the resistance at the $68,000 price region and rally toward reclaiming its all-time high of $73,750.
Notcoin (NOT)
Telegram-linked Notcoin is another coin crypto whales bought this week. According to IntoTheBlock, its large holders’ netflow has skyrocketed by over 2,000% over the past seven days.
Large holders are whale addresses that hold over 0.1% of an asset’s circulating supply. Their netflow measures their buying and selling activity.
When it spikes like this, whales have accumulated more coins. Conversely, a decline suggests that these addresses have sold their coin holdings.
Read more: 10 Best Altcoin Exchanges In 2024
Dogecoin (DOGE)
Leading meme coin Dogecoin (DOGE) is another crypto asset that has caught the attention of crypto whales this week. According to IntoTheBlock’s data, the coin’s large holders’ netflow has climbed by over 2,200%. As of October 17, this totaled 527 million DOGE (approximately worth $71.46 million), representing its highest since the beginning of the month.
Read more: Dogecoin (DOGE) Price Prediction 2024/2025/2030
The recent surge follows a double-digit increase in the value of the leading meme coin over the past week. Currently trading at $0.13, Dogecoin has rallied 23% during this period, making it one of the top-performing large-cap meme coins by market capitalization.
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