Whales Selling MKR And Ethereum Are Buying These 7 Altcoins!

The crypto market is awash with intense speculation as significant whale movements have been observed in many leading cryptocurrencies including Shiba Inu (SHIB), Ethereum (ETH), XRP, MKR and Dogecoin (DOGE). These huge transactions attracted the attention of investors and analysts, leading to increased price speculation and interest in the market. Here are the details…

SHIB whale in action

The Shiba Inu ecosystem went wild when a mysterious whale launched a massive transaction containing 2,416 trillion SHIB tokens on July 19. The transaction, worth approximately $18 million at the current SHIB price of 0.0000077, sparked intense price speculation within the community. The recipient address could not be identified while the sender address is linked to the ailing exchange BinanceUS. Speculation added to the excitement surrounding the transaction’s Shiba Inu token. Thus, he suggests it could be linked to the upcoming Shibarium mainnet launch. The uncertainty surrounding the buyer’s wallet has further fueled the interest of investors, who are watching the situation closely to anticipate potential price movements.

There is activity for ETH, MKR and XRP: They are buying them

In addition to Shiba Inu, Ethereum and XRP have also seen significant whale activity in recent days. According to Lookonchain tracking, a16z has made a notable transfer of 1380 MKR to Coinbase, amounting to approximately $1.52 million, via the address starting with 0x1279. Meanwhile, a giant whale address spent about $3.3 million purchasing 411,142 LINK tokens with an average price of $8.06. The same address previously traded $500,000 for 65,723 LINK tokens on July 20 at an average price of $7.61. In addition, data analyst named Ember reported that a giant whale address made significant purchases from BLUR and DYDX tokens and showed significant interest in these assets.

There’s whale accumulation in XRP

Interest in XRP has grown exponentially after Ripple’s legal victory over the United States Securities and Exchange Commission (SEC), as we reported on cryptokoin.com. The XRP Ledger native token has witnessed notable growth in active addresses, with an astonishing 23.7 percent average increase over the past 30 days. The number of active addresses for 365 days also showed an average increase of 43.2%, indicating an increased interest in XRP. Also, deep-pocketed investors have accumulated around 838 million XRP tokens since May, even before the positive decision in the SEC vs Ripple case. The increase in whale and shark hoards contributed to the increase in XRP trading volume, reaching levels not seen in more than ten months.

MKR, ETH-selling whales focus on DOGE

Dogecoin has also made waves in the crypto market as onchain metrics showed a significant increase in whale accumulation over the week. Large DOGE transactions, defined as those valued at more than $100,000, jumped from 770 on July 16 to 1,300 as of the latest data. This notable increase has attracted the attention of crypto investors, leading to more interest in cryptocurrency. As these whale moves continue to captivate the crypto community, market participants remain eager to see how these developments will impact prices and overall market sentiment for the cryptocurrencies involved.