With historical data showing that the fourth quarter can be beneficial for cryptocurrency gains, crypto whales are strategically investing in certain altcoins in November 2024. These large investors heavily influence market trends, making their strategies valuable for retail investors.
Among the top choices for crypto whales is Maker (MKR), the governance token of the Maker Protocol. On-chain analysis from IntoTheBlock reveals increased netflow for large holders, suggesting that whales are buying more MKR than selling it. Recently, they acquired 5,575 MKR tokens, which represents over $7 million, indicating potential short-term price increases.
Ripple (XRP) is another altcoin attracting whale investments. After a price dip in October, crypto whales bought around 2 billion XRP tokens, valued above $1 billion. Such activity often precedes price increases, suggesting positive price momentum if the buying trend continues.
Pepe (PEPE), a meme coin, also features among the altcoins that whales are targeting. Despite disappointing performance in October, the netflow for large holders improved, signaling renewed confidence among whales. This can potentially lift PEPE's value above previous levels if buying persists.
