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Cryptocurrency markets soared following Donald Trump’s November 5 US presidential election victory entering its third week. Increased trading activity has pushed many major Cryptocurrencies to all-time highs, while low-cap tokens also saw a spike in value, bringing significant profits to traders.
‘Whales’ in the Cryptocurrency market have also taken notice, increasing their accumulation of select assets. This week, their purchases include Dogecoin (DOGE), Ethereum (ETH), and Shiba Inu (SHIB).
Dogecoin (DOGE)
Dogecoin, the leading Meme Coin Coin, is one of the altcoins that Crypto whales have been buying this week. The sudden increase in net flows of major investors during the period under review confirms this. According to data from IntoTheBlock, this parameter has increased by 112% in the past seven days.
These large investors refer to whale addresses that own more than 0.1% of an asset’s circulating supply. Their net flow tracks the difference between the coins they bought and the coins they sold over a specific period of time. When this parameter increases, whale addresses buy more coins. This is a positive signal showing the prospect of a sustainable price increase.
Ethereum (ETH)
Ethereum is also another Crypto asset that attracted the attention of ‘whales’ this week. This comes despite the coin remaining in a price range between $3,396 and $3,043 over the past 14 days.
TinTucBitcoin’s review of ETH supply distribution reveals that, over the past seven days, whale addresses holding between 100k and 1 million ETH have accumulated an additional 380k ETH, valued at $1.27 billion according to current market price.
At the time of writing, this altcoin was trading at $3,342. If ‘whales’ continue to pour money into this altcoin, the price could rise to nearly $3,500 in the near future.
Shiba Inu (SHIB)
The Shiba Inu ‘whale’ also made an appearance this week. According to Santiment, on November 14, the balance of addresses holding between 10 thousand and 1 million SHIB was 127 billion SHIB.
As of now, this number has skyrocketed to 129 billion SHIB. This means that this group of SHIB holders purchased 2 billion SHIBs during the seven-day period under review. If accumulation continues, the value of Meme Coin Coin may continue to increase.
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