3 Altcoins Whales Are Snatching up Right Now for Potential Gains

Key Takeaways

• In recent times, whales have purchased MOVE, the Lido DAO token, and Dogecoin
• The prices of these altcoins have also increased amid these notable accumulations.
• This analysis shows the possible targets the price might reach if buying continues.

At some point this month, the price of several altcoins plunged. In most cases, this provides an opportunity to buy at cheaper prices before another major upswing.

For many market participants, monitoring the activities of crypto whales is crucial to gaining an early advantage before making their purchases. While this strategy doesn’t guarantee profits, the notable influence of these whales on crypto prices makes it a popular approach.

In this analysis, CCN highlights the top three altcoins that whales are currently accumulating in bulk. We will also reveal the reasons behind these purchases and what could lie ahead for these cryptocurrencies.

Movement (MOVE)

MOVE, the native token of the layer-2 project on the Ethereum blockchain Movement, tops the list of altcoins that whales buy. This notable accumulation could be linked to the confidence that Donald Trump’s crypto entity, World Liberty Finance, showed in cryptocurrency.

As CCN previously reported, World Liberty Finance purchased $2 million worth of MOVE on Jan. 28. But it does not end there.

According to Santiment data, the balance of addresses holding between 100,000 and 1 million MOVE tokens has also skyrocketed. On Jan. 28, it was 21.55 million.

This figure has jumped to 26.38 million as of this writing, indicating that whales added nearly 5 million tokens to their balance within the last two days.

This accumulation has also impacted the price, as MOVE climbed to $0.89 before its recent decline to $0.82. Should whales continue to buy the altcoin, then MOVE’s price might retest $0.89, potentially rising to $1.

From a technical perspective, MOVE’s price has risen above the descending trendline formed between Jan. 6 and 24. This breakout was one reason the altcoin produced a 12% daily increase.

With a rising Balance Volume (OBV), which indicates increasing buying pressure, MOVE could rally to $1.40 in the short term. However, this will only happen if whales continue adding it to the altcoins they buy.

Alternatively, if whale accumulation decreases, MOVE could drop below the falling trendline again, potentially causing the altcoin to fall to $0.59.

Lido DAO (LDO)

Second on the list of altcoins that whales are buying is the Lido DAO token (LDO). According to IntoTheBlock, the LDO’s large holders’ netflow climbed from 109,000 on Jan .28 to 1.61 million today.

The net flow is the difference between the volume of tokens accumulated by whales and the volume distributed.

When the metric is positive, it indicates that whales are buying; when it is negative, it suggests they are selling. Since the metric has risen, it shows that whales have accumulated over $3 million worth of LDO within the past two days.

This accumulation could be linked to several reasons — particularly the speculation that the U.S. would approve Ethereum (ETH) staking. For context, Lido is the largest Ethereum staking protocol. Therefore, LDO’s price might benefit if the approval goes through.

Interestingly, some analysts believe that the approval might not take long. One of those with such sentiment is pseudonymous analyst Pentoshi, who said that a “violent” LDO repricing might occur if this happens.

“If you believe ETH staking will be approved, then LDO is likely a great bet So far price seems to be appreciating rapidly and has begun to start to price this in what does a repricing look like if approved? what if revenue share happens? 1.60 was prob good long term buys even in shakier conditions lately, and given a dip from here if you believe some or all of the above happens, then dips are also likely great value.” The analyst shared on X  (formerly Twitter).

On the 4-hour chart, LDO’s price has risen above the 20 and 50 Exponential Moving Averages (EMAs), which are in blue and yellow, respectively. This indicates a bullish trend around LDO.

If sustained, accompanied by rising whale accumulation, the altcoin’s price might rise to $2.23. Should buying pressure increase, then the token might hit $3.

On the flip side, if LDO faces selling pressure, the price might drop below the 20 and 50 EMAs, causing the altcoin’s value to decline to $1.60.

 Dogecoin (DOGE)

Between Jan. 21 and 23, whales sold off a ton of DOGE. This caused the price to slide from $0.37 to $0.32.

But since Jan. 23, the balance of addresses holding over a billion coins has increased from 22.82 billion to 23.33 billion, indicating that whales have bought about 560 million coins in the last seven days.

At Dogecoin’s current price, this is worth nearly $200 million. This accumulation could be connected to the bullish sentiment around Elon Musk’s involvement in Trump’s presidency.

It could also be linked to the impact of the Department Of Government Efficiency role in the new U.S. government. Should whales continue to buy DOGE, then the altcoin’s value might reclaim some of its lost gains.

From a technical perspective, DOGE’s price seems to have established support around $0.32. The last time bulls defended this support, DOGE’s price climbed to $0.40.

Thus, if history rhymes, the coin’s price might hit $0.40, positioned at the 0.618 Fibonacci level. In a highly bullish scenario, DOGE could reach $0.45.

On the other hand, if Dogecoin loses hold on the $0.32 support, the price could turn downward and probably decline to $0.26.