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Cryptocurrency News Articles
Bitcoin (BTC), Notcoin (NOT), and Dogecoin (DOGE) Emerge as Top Choices for Crypto Whales This Week
Oct 19, 2024 at 02:00 am
This week has seen a resurgence in trading activity, with a notable 10% increase in the global crypto market capitalization. As a result, large coin
Crypto whales have been accumulating Bitcoin (BTC), Notcoin (NOT), and Dogecoin (DOGE) this week, as indicated by their large holders’ netflow. Here's a breakdown of their activity:
1. BTC Whales Ramp Up Coin Holdings
As BTC trades at $67,871, notching an 11% price uptick over the past week, crypto whales that hold between 10,000 and 1,000,000 coins have added 20,000 coins valued above $1.35 billion at current market prices. This cohort of BTC investors, which spans seven days, now holds 3.05 million coins.
If this accumulation trend continues, BTC will successfully breach the resistance at the $68,000 price region and rally toward reclaiming its all-time high of $73,750.
2. Notcoin (NOT) Surges by 2,000%
Telegram-linked Notcoin is another coin crypto whales bought this week. According to IntoTheBlock, Notcoin's large holders' netflow surged by over 2,000% over the past seven days.
This metric measures the buying and selling activity of large holders, which are whale addresses that hold over 0.1% of an asset’s circulating supply. When it spikes like this, whales have accumulated more coins.
3. Crypto Whales Eye Meme Coin Rally
Leading meme coin Dogecoin (DOGE) is another crypto asset that has caught the attention of crypto whales this week. According to IntoTheBlock’s data, the coin's large holders' netflow climbed by over 2,200%. As of October 17, this totaled 527 million DOGE (approximately valued at $71.46 million), marking its highest since the beginning of the month.
This recent surge follows a double-digit increase in the value of the leading meme coin over the past week. Currently trading at $0.13, Dogecoin has rallied 23% during this period, making it one of the top-performing large-cap meme coins by market capitalization.
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