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Elena R
Elena R
Author
Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.
- Dec 14, 2024 13:17 UTC
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Crypto Whales Are Buying the Dip: BTC, ADA, XRP, DOGE See Huge Moves
Despite recent market dips, large investors (whales) are actively buying Bitcoin, Dogecoin, Cardano, and XRP.
Whales are particularly active in Cardano and XRP, accumulating millions of tokens even during price dips.
This whale activity suggests a "buy the dip" strategy is in play, with investors capitalizing on price corrections to accumulate assets.
Whale activity has picked up in the last 24 hours as major cryptocurrencies like Bitcoin (BTC), Dogecoin (DOGE), Cardano (ADA), and XRP face a market dip. Crypto analyst Ali Martinez has observed that these deep-pocketed investors are using the correction to buy more assets, signaling strong confidence in these coins despite short-term price declines.
Whale investors are buying the dip – should you too? Let’s find out.
Cardano Whales Return Strong
Cardano (ADA) has been on a remarkable run, doubling its value over the past month. However, the last week saw a 4% decline, hinting at some short-term selling. Martinez reports that Cardano whales have been especially active in the past 48 hours, purchasing over 80 million ADA tokens. Despite a 6.22% price drop, with ADA currently at $1.14 per token, large investors are undeterred.
They seem confident in Cardano’s long-term potential, particularly its smart contract capabilities, and are continuing to buy during the dip.
Dogecoin Is Raising the Bar!
Dogecoin (DOGE), a popular meme coin, has struggled to break above the $0.50 mark. Still, whales are taking advantage of the market dip. Martinez highlights that investors holding between 10 million and 100 million DOGE tokens bought an impressive 210 million DOGE during the correction.
Despite a 4.7% decline in price, leaving DOGE at $0.402, whales remain optimistic about its future growth, even as the token’s volatility continues.
XRP Draws Strong Whale Interest
XRP, the third-largest cryptocurrency, has dropped 5% today, now trading at $2.43. But that hasn’t stopped whales from stepping in. Wallets holding between 1 million and 10 million XRP tokens bought over 100 million XRP during the dip. This whale activity shows strong confidence in XRP’s future, despite ongoing price fluctuations. With fears of SEC actions fading, investor sentiment toward XRP is improving, pointing to its long-term resilience.
Is Altcoin Season Coming?
The recent whale activity in coins like Cardano and XRP suggests growing optimism in the crypto market. Large investors are moving significant amounts, hinting at a potential market shift ahead.
Could this be the early sign of an altcoin season? While it’s too soon to tell, the “buy-the-dip” strategy seems to be gaining traction among big players. Keep a close watch on these market moves.
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