Bitcoin’s rise past $95,000 has triggered bullishness, enticing crypto whales into altcoins, particularly Avalanche (AVAX), Ethereum (ETH), and meme coin Pepe (PEPE). AVAX shows a massive 380% increase in whale interest, while ETH accumulates steadily with a 3% price increase. PEPE also sees substantial whale buying, but faces potential resistance; thus, market dynamics are crucial for these coins’ movements.
The crypto landscape is buzzing again as Bitcoin breaks that major psychological level of $95,000, sparking some notable bullish sentiment recently. This uptick is not just a fluke; it has attracted attention from major players—crypto whales—who are diving into several altcoins this week. Specifically, they’re eyeing Avalanche (AVAX), Ethereum (ETH), and the meme coin Pepe (PEPE), all of which have seen significant buying activity from these wealthy investors.
Starting with Avalanche (AVAX), this Layer-1 coin is turning heads as whale activity surges, shown clearly by a remarkable spike in the netflow of large holders. Data from IntoTheBlock highlights that whale inflows have shot up over 380% in just the past week. To clarify, a large holder is anyone with a wallet holding more than 0.1% of the circulating supply. When these whales are active in buying, it signals increasingly bullish sentiment, often motivating retail investors to follow suit. Should this trend continue, AVAX might breach resistance at $24.28, potentially even stretching up to $30.23. But it’s not all sunshine; if the buying cools off, we could see AVAX sliding down to $14.66.
Next up is Ethereum (ETH). Over the same period, ETH has seen a mild price boost of about 3%. This uptick is complemented by some steady accumulation from whales. Recent figures from Santiment reveal that addresses holding between 10,000 and 100,000 ETH have snapped up a staggering 280,000 ETH valued at over $510 million lately. As it stands, this particular group of ETH whales now possesses about 25.24 million ETH, marking their highest holdings in a month. If this whale buying spree continues, we might just see ETH push past the psychological barrier of $2,000. However, if bearish pressure ramps up, it might well drop to around $1,733.
Last but not least, we have the popular meme token, Pepe (PEPE). This coin has been on the radar, witnessing a marked increase in accumulation from crypto whales. Santiment reports that wallet addresses owning between 100,000 and 1 million tokens have collectively purchased 350 million PEPE over the past week. Right now, PEPE is trading at $0.0000086. If the trend continues, there’s a real chance PEPE could recover from its current downturn and break resistance at $0.0000010. But, like the others, if selling pressure continues, we might see the price sliding as low as $0.0000052.
In summary, the developments from both crypto whales and market movements are stirring expectations across the ecosystem. Whether these altcoins continue to rise or not will heavily depend on ongoing demand and wider market sentiment.
As always, investors should remain cautious and do due diligence before making any moves in this volatile market, considering both bullish trends and potential risks.
