3 memecoins that whales use
Major memecoin investors are once again buying up coins despite price volatility. Over the past seven days, the memecoin market has fallen 6.8%, and over 2% in the past 24 hours, making it one of the worst performers this week.
However, the market weakness isn't deterring major holders. Despite the sharp decline of almost all major coin prices, including some that have plunged by over 20%, major investors are quietly accumulating the three tokens. This behavior by whales suggests growing confidence in the market's growth.
Dogecoin (DOGE)
Dogecoin is one of the memecoins that large holders are buying in October. The token has traded flat over the past 24 hours. However, the activity of large holders indicates a quiet accumulation of the coin.
Data shows that two major whale groups have increased their holdings since mid-October. The volume of coins in wallets holding more than 1 billion DOGE has grown from 69.8 billion to 71.39 billion. This is equivalent to purchasing 1.59 billion DOGE for $302 million.
Another group, which holds between 10 million and 100 million DOGE in its wallets, increased its coin holdings from 24.24 billion to 24.45 billion, adding approximately 210 million tokens worth $40 million. The wave of purchases comes as the price of DOGE has fallen more than 4% in a day.
These purchases appear to be consistent with Dogecoin's technical picture. On the daily chart, DOGE continues to move within a narrowing descending wedge, a structure that often precedes an upside breakout.
A 25% rise from current levels could lift the price above the upper limit around $0.24, potentially opening up targets at $0.26 and $0.30.
If DOGE breaks below $0.19, a pullback to $0.18 is possible, but only a drop below $0.17 would open the door to a more significant decline towards $0.14.
Additionally, since the lower trendline of the wedge only has two clear touch points, it remains weak and vulnerable to a breakout if the price of DOGE falls and large holders start selling.
Pepe (PEPE)
PEPE became another target for major memecoin investors at the end of October. The token, ranked 51st among all cryptocurrencies, has fallen 31% over the past 30 days but remained stable in the past 24 hours. Whales appear to be taking advantage of this lull to buy into the decline.
Data shows that large PEPE holders increased their holdings from 155.62 trillion to 155.84 trillion tokens since October 21, adding 0.22 trillion PEPE, which is worth about $1.5 million at the current price of $0.0000068.
Slow but steady accumulation near support suggests that major holders are preparing for a recovery rather than a prolonged decline.
On the 12-hour chart, PEPE has just recovered above the $0.0000068 resistance level. If the price holds, the next upside targets are $0.0000097 and $0.000012, representing a potential upside of 40%.
Between October 11 and 17, the price made new lows while the RSI made higher lows—a bullish divergence that often precedes short-term recoveries.
The Relative Strength Index (RSI) tracks price momentum. A divergence between the RSI and price often signals a potential trend reversal.
If the $0.0000063 level is broken downwards, PEPE could fall to $0.0000050, which would invalidate the short-term bullish scenario. As long as the $0.0000063 level holds, large holders of the coin could continue to support PEPE's recovery.
Useless (USELESS)
Major memecoin investors appear to be doubling down on USELESS, one of the few tokens in the space showing real strength as October draws to a close.
While nearly all major coin prices have corrected over the past week, USELESS has risen 4% in the past 24 hours. It has also gained nearly 82% over the past 30 days, proving that it continues to attract significant buying interest.
The steady growth appears to have been driven by large investments. Over the past 24 hours, they've been buying again, increasing their holdings by 1.15% to a total of 247.72 million USELESS. This is equivalent to approximately 2.81 million tokens, worth approximately $843,000 at the current price of $0.30.
The top 100 addresses (mega-whales) increased their combined balance by 7.9% to 602.42 million USELESS. This is equivalent to the purchase of approximately 44 million tokens, worth almost $13.2 million.
On the daily chart, USELESS is trading within a flag-like pattern. This position could be the reason for increased attention from major holders.
This channel-like structure can be perceived as a trend continuation pattern rather than a typical flag, as the flag structure appears longer than the flagpole. In any case, a close above $0.33 could trigger a breakout. Such a move could send the price to $0.46, $0.59, or even $0.80—a move of approximately 140%, while the flagpole projection targets a gain of 317%.
If the $0.25 level fails to hold, the next support is near $0.20, which could cancel the bullish scenario. However, given that large memecoin holders continue to buy on the rise, and technical indicators point to further gains, USELESS stands out as one of the rare memecoins where buyers still dominate.
Источник: cryptocurrency.tech
