Crypto Whales Bet Big On These Three Altcoins This November 2024

As the fourth quarter unfolds, the cryptocurrency market often presents prime opportunities for investors, especially for seasoned players known as crypto whales. These large-scale holders have begun placing strategic bets on specific altcoins with the potential for high returns. An analysis by Beln Crypto team provides insight into the top tokens that whales are targeting this month, offering valuable guidance for retail investors interested in following the money trail.

Maker (MKR) Leads the Way

Maker (MKR), the governance token of the Maker protocol, is currently one of the top altcoins for whale investment. Into The Block data reveals a steady increase in net inflows from large holders, meaning that these investors are buying more MKR than they’re selling. In the last week of October alone, whales acquired 5,575 MKR tokens, signaling their growing confidence. Continued accumulation this month could push the price above $1,284.

Ripple (XRP) Sees Renewed Interest

The payment system token Ripple (XRP) is also attracting whale attention after experiencing a 12% price drop in October. This decline provided a buying opportunity, and on October 31, whales made significant purchases, reportedly acquiring around 2 billion XRP tokens, worth over $1 billion. Should whale accumulation persist, XRP may regain some of its recent losses.

Pepe (PEPE) Gains Momentum

The meme coin Pepe (PEPE) saw its popularity dip in October due to interest in other meme tokens. However, whales have recently shown renewed interest, as evidenced by increased net inflows from large holders. If this trend continues, PEPE coin price might rise above $0.0000092.

These whale-driven insights offer a glimpse into current crypto trends, helping retail investors monitor assets with potential for substantial returns.

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Disclaimer:
This article is for informational purposes only and should not be considered as financial or investment advice. Cryptocurrency investments are highly speculative and involve significant risk. The views expressed here are based on public data and analysis but do not guarantee any specific results. Always conduct your own research, consider your financial situation, and consult a qualified financial advisor before making investment decisions. Neither the author nor the publication is responsible for any financial losses resulting from investments or trading activities based on this information.