Top Whales Accumulate These Top Crypto Tokens Before Prices Rally

Whales are accumulating massive amounts of Cardano (ADA), Dogecoin (DOGE), and Polygon (MATIC) in the last few days despite a market-wide selloff.

In addition, top crypto tokens Shiba Inu (SHIB) amid the Shibarium beta launch and MATIC as a result of rising NFT support have been witnessing increased activity from whales.

Whales Buying Cardano, Dogecoin, and MATIC Tokens

Whale Alert on Thursday reported two massive transactions of MATIC. A single whale moved 38,000,000 MATIC tokens in two transactions worth over $50 million in total. In fact, MATIC has become the third-largest crypto holding of the top 500 ETH whales.

Polygon (MATIC) price is still in an uptrend, rising nearly 10% in a week. The price is currently trading at $1.33, up 2% in the last 24 hours from a low of $1.24.

According to WhaleStats, ADA is the most traded token among the top 100 BSC whales in the last 24 hours. Also, it is the most used smart contract for the top 1000 biggest BSC whales.

On Wednesday, Santiment on-chain data revealed that Cardano whale numbers have risen in 2023, with more than $100k transactions rising for the first time after May last year.

Cardano (ADA) price is up 65% in 2023. In the last 24 hours, ADA price fell over 2% with the current price trading at $0.38.

Meanwhile, Dogecoin is giving a thought competition for Cardano in whale activity. Dogecoin (DOGE) flipped Cardano for the most traded token among the top 100 BSC whales in the last 24 hours. Dogecoin Whale Alert reported at least over 20 transactions with a cumulative movement of over 200k DOGE in the last 24 hours.

Rekt Capital on Tuesday reported that Dogecoin (DOGE) price has broken out from its “falling wedge” pattern in the weekly timeframe, which indicates a likely move above $0.1 in the next few weeks. Currently, the DOGE price consolidates near $0.09, down 4% in the last 24 hours.

Also Read: Bitcoin Price Fails To Price-In “Golden Cross”, Is Fall To $20K Next?

Varinder is a Technical Writer and Editor, Technology Enthusiast, and Analytical Thinker. Fascinated by Disruptive Technologies, he has shared his knowledge about Blockchain, Cryptocurrencies, Artificial Intelligence, and the Internet of Things. He has been associated with the blockchain and cryptocurrency industry for a substantial period and is currently covering all the latest updates and developments in the crypto industry.