What Altcoins Are Whales Buying?

The cryptocurrency market slowed down in the last week of May as participants locked in profits after recent rallies. However, as summer begins, digital assets could behave very differently.

Here's why whales are betting on Dogecoin (DOGE), Avalanche (AVAX), and Quant (QNT) this month.

Dogecoin (DOGE)

Leading memecoin, DOGE, is among the assets that whales are accumulating for potential profits in June. This is supported by the recent increase in DOGE accumulation among whales holding between 1 million and 10 million tokens. According to Santiment, they have purchased an additional 30 million tokens in the last week.

This whale activity often serves as a strong signal for retail traders. Seeing large investors confidently increasing their positions, retail traders may begin to buy more actively. This may lead to an increase in the price of DOGE.

If the buying pressure continues, the token will have a chance to resume the rally and rise to $0.206.

If whales stop accumulating DOGE and start selling actively, the price may drop to $0.175.

Avalanche (AVAX)

Tier 1 coin AVAX is another asset that large investors have been actively acquiring in June. Over the past seven days, net inflows from large holders have increased by 474%.

The increase in net flow from large holders indicates that more tokens are entering their wallets than leaving. This suggests that AVAX whales are accumulating the asset, indicating confidence in its future value.

If the accumulation continues, AVAX could recover and reach $24.28.

However, if whales start selling for profit, the altcoin price could fall to $14.66.

Quant (QNT)

QNT surprised the market this week, posting a 7% gain amid a general decline. The token’s rally is due to increased investor interest following the launch of Overledger Fusion, a layer 2.5 network that connects institutions, businesses, and decentralized finance (DeFi) ecosystems.

There has also been a significant increase in whale accumulation, with net capital flows from large token holders up 1,083% over the past week. This shows growing confidence in QNT’s short-term prospects and hints at further upside potential.

If these traders continue to buy QNT, the price could rise to $115.20.

However, if a sell-off begins, QNT risks falling below $101.87, possibly to $93.52.

Источник: cryptocurrency.tech