The coming week is critical for the crypto market as the Trump administration publishes its assessment of the US crypto industry. The White House’s crypto report on July 30 is building anticipation among investors.
In line with this, BeInCrypto has analysed three altcoins that the whales have been buying over the past 24 hours.
Tutorial (TUT)
TUT has seen a significant surge, with the price rising by 17.68% over the last 24 hours. The increase is primarily due to the steady accumulation of TUT by investors. This rise indicates growing interest in the altcoin, signaling a potential bullish trend in the near term.
Over the last 24 hours, TUT whales have purchased 30 million TUT, valued at over $2.4 million. This accumulation suggests strong investor belief in TUT’s future potential, especially ahead of a potentially positive report this week.
Such behavior reinforces the bullish outlook for the altcoin, indicating increased confidence among large holders.
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Currently trading at $0.072, TUT is edging closer to its next price target of $0.080. If TUT successfully surpasses this level, it could trigger increased optimism among investors. A break above $0.080 would likely propel the price higher, attracting more buyers and strengthening the bullish momentum.
Pudgy Penguins (PENGU)
PENGU has become one of the most sought-after altcoins, as whales accumulated 400 million PENGU, valued at over $16.8 million in the last 24 hours.
This large-scale buying activity signals strong investor interest and suggests that the altcoin is poised for further upward movement in the short term.
The whale accumulation led to a 17% rise in PENGU’s price over the past day. Currently trading at $0.043, PENGU is nearing its all-time high (ATH) of $0.0469. With the current momentum, the altcoin is expected to likely breach its ATH, pushing prices even higher.
However, if the broader market shifts to a bearish trend, PENGU could face significant resistance. A decline below the $0.040 support level could signal further weakness, potentially pushing the altcoin down to $0.0299.
This would invalidate the bullish outlook, suggesting caution for potential investors.
Pendle (PENDLE)
PENDLE has experienced a 5% gain over the last 24 hours, signaling potential for further upward movement. Despite increased whale accumulation, a major price surge has yet to occur.
If buying pressure continues, the cryptocurrency could see a sustained rally in the near future.
In the past 24 hours, PENDLE whales have purchased over 30,000 tokens, valued at approximately $133,200. This accumulation reflects a strategic move by larger investors, indicating potential bullish sentiment.
Should the demand from these whales increase, PENDLE may see its price continue to rise in the coming days.
However, if whales decide to sell their holdings, PENDLE could face downward pressure. A drop below the $4.21 support could lead the token to fall from its current price of $4.43 to $3.90.
This bearish scenario would suggest a shift in investor sentiment, weakening the altcoin’s short-term outlook.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
