Whale accumulation is one of the key indicators for predicting the direction of the market in the coming days. During the Solana meme coin craze, whales turned investments worth thousands of dollars into millions of dollars within days and weeks. The three altcoins that whales are currently buying are:
3 altcoins that whales are bullish on
Whales sold most of its holdings in Solana, Ethereum, and Bitcoin following the CPI announcement of 3.5%, which was higher than expected. According to whale trades seen by CoinGape, smart money is still holding on to their investments or buying altcoins.
1. Pendle
PENDLE is seeing increased investor interest despite the broader market decline. On-chain analytics platform reveals that PENDLE whale accumulation has increased significantly due to growing interest and investment in cryptocurrencies.
Lookonchain and Spot On chains reported that whales withdrew and deposited significant amounts of PENDLE tokens worth millions of dollars.In particular, the wallet address is her 0xe675. 0xAa4c We have withdrawn a significant amount of PENDLE tokens from Binance totaling millions of dollars in the past few days.
Meanwhile, 0xe675 withdrew 295,443 PENDLE worth approximately $1.95 million, and 0xAa4c withdrew 115,500 cryptocurrencies currently worth approximately $764,000.
Pendle’s price has increased more than 27% in one week and more than 115% in one month. Pendle Finance currently earns significant fees and income, with further increases expected as the surge in trading volumes and liquidity injects new vitality into the project.
2. Manufacturer (MKR)
Maker (MKR), the governance token of MakerDAO and Maker Protocol, has received significant attention from whales as well as institutional investors.
MakerDAO, the decentralized autonomous organization behind the DAI stablecoin, has approved expanding the debt limit of Ethena’s USDe synthetic dollar to $1 billion. MakerDAO strengthens its collaboration with his Ethena to provide additional revenue to users.
The on-chain platform reported that 13 new wallets withdrew 13,560 MKR worth $47.8 million from Binance in one week. Of this amount, $30.8 million was withdrawn in the last 12 hours. Additionally, he has 3 wallets making test withdrawals of his 0.0055 MKR and more tokens will be withdrawn soon.
MKR price has fallen 2% in the past 24 hours amid the market-wide decline and is currently trading at $3,411. Prices rose 32% in one month and 400% for the year.
3. Friend Pet (FP)
Fren Pet is a Tamagotchi-like crypto mobile game built on Base. His FP price of Fren Pet’s native token has increased by 45% in the past 24 hours, 90% in a week, and over 800% in a month.
Nansen We reported a large purchase of FP tokens by whales. FP’s top buyers have been actively buying for the past two days, with returns of over 30% and total holdings worth over $450,000 at the time of writing.
Crypto trader Anthem has purchased $32,000 worth of FP tokens following massive promotion of Fren Pet. Some whales who have been holding the tokens for weeks have bought his FP again within the last 24 hours.
FP price is currently trading at $13.14, with a 24-hour low of $8.68 and a 24-hour high of $16.38. In the last 24 hours the trading volume increased by 800%.
Also read: CPI — JPMorgan, other banks predict months of high inflation, Bitcoin below $60,000?
