Cryptocurrency whales are chasing 3 altcoins as the Dogecoin rally cools. The biggest meme coin has moved the altcoin market with its performance during the week.
Dogecoin rose 155 percent in just 7 days
Thanks to the Dogecoin-led rally, the altcoin market has revived with a significant price increase. Big investors had to prioritize some altcoins to accumulate more. Despite falling slightly over the weekend, DOGE’s price continues to dominate the market environment. The biggest meme coin is currently in the green about 119% on a weekly basis compared to a week ago.
As you follow on Kriptokoin.com, Elon Musk officially completed his Twitter purchase on October 27. This caused the rally of Dogecoin and, as a result, the entire cryptocurrency market. In this context, it is said that Musk can enable Dogecoin (DOGE)-based subscription payments for Twitter.
Whales stockpile these altcoins while Dogecoin is on the train
Meanwhile, crypto whales are stocking up on a few more altcoins following the current DOGE-led rally. According to crypto phenom Ran Neuner, several altcoins are experiencing a marked increase in buying activity. “3 altcoins are being aggressively accumulated by crypto whales,” Neuner said in the new analysis. He also claimed that Chainlink (LINK) is undervalued as it has been trading in the accumulation range for a long time. According to Neuner’s analysis, Dogecoin, Chiliz, and Chainlink are currently in a period of intense accumulation.
The crypto analyst expects the current levels to be ideal for buying LINK. This is due to a major change to Chainlink’s tokenomics. According to CoinMarketCap, the LINK price is trading at $7.97, up 4.35% from the previous day. It is currently ranked 21st by market cap.
The analyst also added that DOGE’s growth prospects are currently very positive, given Elon Musk’s acquisition of Twitter. Despite this, he questioned whether Dogecoin would eventually be included in Twitter’s various use cases.
The rally is accompanied by the FIFA catalyst
Chiliz (CHZ), ranked 42nd, is a good buying opportunity, according to Neuner. CHZ is attracting more and more buyers’ attention as the FIFA World Cup approaches. This is because it is one of the biggest fan tokens. CHZ is currently trading at $0.2181. The opening day of the FIFA World Cup 2022 is set for November 20.
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