Whales Accumulate Billions in XRP and Dogecoin Amid Market Slowdown
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Recent data reveals that major crypto investors have poured over $2.5 billion into XRP and Dogecoin (DOGE) within just two days, signaling heightened activity in the market.
Crypto analyst Ali Martinez highlighted this trend, emphasizing the substantial accumulation of these assets by whales.
Martinez noted that whales acquired approximately one billion XRP during this period, a haul valued at $2.54 billion with the asset trading at $2.54. Similarly, Dogecoin saw a surge in demand, with 470 million DOGE purchased at a price of $0.338, bringing the total value to $158.86 million.
Adding to the analysis, Martinez predicted a potential rally for XRP, targeting a price of $10. He pointed out two critical levels for investors to watch: $2.05, tied to an upward trendline, and $2.50, marking a possible breakout.
Despite these bullish moves, Martinez highlighted a broader trend of declining capital inflows in the crypto market over the past month. Total inflows dropped sharply from $134 billion to $68 billion, reflecting a 49% contraction. This decline underscores a cooling phase in market activity, even as whales continue their strategic acquisitions.
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