3 Coins Targeted by Crypto Whales: There are DOGE and MOVE

Bittime - The crypto market is being stirred up by massive buying actions by big investors or whales. Recently, three altcoins have attracted the attention of whales MOVE, LDO (Lido DAO token), And DOGE (Dogecoin). ChainThese ga coins recorded significant accumulation, and this may affect their price in the near future. Here's an analysis of the altcoins these whales are watching and what could happen next.

MOVE (Token of the Movement Project)

MOVE, which is a token of a layer-2 project on the Ethereum blockchain called Movement, is currently one of the altcoins most bought by whales. On January 28, World Liberty Finance, incryptocurrencies associated with Donald Trump, bought tokens MOVE worth $2 million. 

Data from Santiment also shows that the number of addresses holding between 100,000 and 1 million MOVE tokens has increased sharply, indicating that whales are becoming more aggressive in accumulating these coins.

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The MOVE price increase reached $0.89 before decreasing slightly to $0.82. If whale buying continues, it is possible that MOVE price will retest the $0.89 level and potentially even rise towards $1. 

Technically, MOVE has also broken the descending trend line formed between January 6 and 24, which indicates that there is quite strong buying pressure. If whales continue buying, MOVE price could surge to $1.40 in the near future. However, if accumulation reduces, MOVE could fall back to the $0.59 level.

LDO (Lido DAO Token)

EtcThe second oin that attracts the whale's attention is Lido DAO (LDO). Data from IntoTheBlock shows a significant spike in LDO net flow from large holders. On January 28, netflow LDO recorded at 109,000, but on January 30 it increased rapidly to 1.61 million. This shows that whales have purchased more than $3 million in LDO in the last two days.

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This increase is likely trelated to the speculation that Ethereum (ETH) staking will soon be approved by the US government. As the largest staking protocol for Ethereum, Lido DAO could gain huge profits if ETH staking is approved. 

Technically, the LDO has gone beyond 20 MOTHER And 50 MOTHERS, which indicates a bullish trend. If accumulation by whales continues, LDO price could rise towards $2.23 and even reach $3 in the next few weeks. However, if selling pressure occurs, the LDO price could fall back to the $1.60 level.

DOGE (Dogecoin)

After experiencing a price decline from January 21 to 23 due to a massive selling action by whouse, Dogecoin (DOGE) attracting attention again. As of January 23, the number of addresses holding was more than 1 billion DOGE increased from 22.82 billion to 23.33 billion, which means whales have bought around 560 million DOGE in one week. This buying action is equivalent to almost $200 million.

This increase is likely to be influenced by positive sentimentfacing Elon Musk, which has again stolen the spotlight with its involvement in the US government and other major projects. 

Technically, DOGE appears to find strong support at the $0.32 level. If the price manages to maintain this level, DOGE could potentially test the $0.40 level again and could even reach $0.45 in a bullish scenario. However, if DOGE loses support at $0.32, the price could drop to $0.26.

Conclusion

The large buying activity carried out by whales on MOVE, LDO, and DOGE shows the potential for price increases if buying continues. These three altcoins have attractive prospects in the crypto market, especially against the backdrop of project development and supportive market sentiment. 

However, as usual, the crypto market is very volatile and many factors influence price movements. Therefore, investors must always be careful and carry out in-depth research before deciding to invest.

FAQ

Why are MOVE, LDO, and DOGE being targeted by whales?

Whales buy MOVE, LDO, and DOGE due to the potential for large profits related to project development, positive market sentiment, and other factors such as speculation regarding Ethereum staking and Elon Musk's involvement.

What is meant by a whale in the crypto market?

Whales are large investors who own very large amounts of crypto assets, so they can influence market prices with their buying or selling decisions.

Are altcoin price movements always influenced by whales?

Altcoin price movements can indeed be influenced by whales, but many other factors such as regulations, technology adoption, and market sentiment also influence prices.

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Reference

CCN, 3 Altcoins Whales Are Snatching up Right Now for Potential Gains, accessed January 31, 2025.

Author: MF