In the last week of May, the cryptocurrency market slowed down activity, as the participants recorded profit after recent rally. However, with the beginning of summer, digital assets can lead themselves in a completely different way.
We tell you why whales bet on Dogecoin (Doge), Avalanche (AVAX) and Quant (QNT) this month.
Dogecoin (DOGE)
Leading Memcoin, DOGE, is one of the assets that whales accumulate for possible profit in June. This is confirmed by a recent increase in DOGE accumulation among whales owning from 1 million to 10 million tokens. According to Santiment, over the past week they bought another 30 million tokens.
Such activity of whales often serves as a strong signal for retail traders. Seeing how large investors confidently increase their positions, retail traders can begin to buy more actively. This can lead to an increase in the cost of DOGE.
If the purchasing pressure is preserved, the token will receive a chance to resume the rally and rise to $ 0.206.
If whales stop accumulating DOGE and begin to actively sell, the price may decrease to $ 0.175.
Avalanche (AVAX)
The first -level coin of AVAX is another asset that large investors are actively acquired in June. Over the past seven days, the net inflow of large holders has increased by 474%.
The growth of the pure stream of large holders indicates that more tokens enters their wallets than it comes out. This indicates that AVAX whales accumulate an asset, which indicates trust in its future value.
If the accumulation continues, AVAX can recover and reach $ 24.28.
However, if whales begin to sell to make a profit, the price of altcoin can fall to $ 14.66.
Quant (QNT)
QNT surprised the market this week, showing an increase of 7% against the background of a total decline. Token rally is associated with the increased interest of investors after the launch of Overledger Fusion. This is a network of 2.5 levels, which combines institutions, enterprises and ecosystems of decentralized finance (Defi).
A significant increase in the accumulation of whales is also observed: a clean stream of capital from large token holders increased by 1,083% over the last week. This indicates a growing trust in the short -term prospects of QNT and hints at the possibility of further growth.
If these traders continue to buy QNT, the price can rise to $ 115.20.
However, if sales begin, QNT risks drops below $ 101.87 – probably up to $ 93.52.
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Source: Cryptocurrency
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