Which Cryptocurrency Are Whales Buying This Week In 2024 ?

“Big Whales” Crypto Purchases This Week: Bitcoin, Notcoin, and Dogecoin Lead the Pack

This week, trading activity in the crypto market surged, resulting in a 10% rise in market capitalization. In response, large investors, also known as “whales,” have been making significant purchases of certain cryptocurrencies.

Let’s dive into which cryptocurrencies attracted the most attention from whales this week:

Bitcoin (BTC)

Bitcoin saw a 10% price increase over the past week, pushing whales to add to their holdings as the price nears an all-time high. Investors holding between 10,000 and 1,000,000 BTC have increased their portfolios by 20,000 coins in the last seven days, valued at over $1.35 billion at the current market price. This group now owns a total of 3.05 million BTC. If this buying trend continues, Bitcoin may break through the resistance level of $68,000 and head toward its all-time high of $73,750.

Notcoin (NOT)

Notcoin (NOT), a popular token within the Telegram ecosystem, has also seen a significant spike in whale activity. Data from IntoTheBlock shows that net inflows from large holders jumped by over 2,000% in the past week. These large holders are defined as addresses holding more than 0.1% of the total supply of Notcoin.

The net inflow metric helps gauge whether whales are accumulating or selling coins. A sharp rise in inflows indicates active accumulation, while a decrease suggests selling. The recent data clearly shows that whales are heavily accumulating Notcoin.

Dogecoin (DOGE)

The leading memecoin, Dogecoin (DOGE), has also caught the attention of whales this week. According to IntoTheBlock, net inflows from large holders surged by more than 2,200%, reaching 527 million DOGE (around $71.46 million) by October 17. This marks the highest level of whale activity for Dogecoin since the beginning of the month.

In the past week, Dogecoin has risen by 30%, making it one of the top-performing memecoins by market cap.

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Disclaimer: The information provided is based on available market data and reports regarding cryptocurrency activity, specifically whale purchases of Bitcoin, Notcoin, and Dogecoin. While efforts are made to ensure accuracy, the cryptocurrency market is highly volatile and subject to rapid changes. The details mentioned reflect the market conditions at the time of writing and may no longer be valid as prices and trading patterns fluctuate. This content is for informational purposes only and should not be construed as financial or investment advice. Always conduct your own research and consult with a financial advisor before making any investment decisions.