Trusted

What Crypto Whales Are Buying for Potential Gains in November 2024

2 mins
Updated by Victor Olanrewaju
Join our Trading Community on Telegram

In Brief

  • Crypto whales accumulate Maker (MKR), Ripple (XRP), and Pepe (PEPE) as November begins, aiming for potential price gains.
  • MKR saw $7M in whale purchases, while XRP saw over $1B, suggesting possible price increases if accumulation continues.
  • PEPE's recent whale interest hints at a price rise if sustained, though volatility may persist due to competing meme coins.
  • promo

Historically, the fourth quarter often brings notable gains for cryptocurrencies, and with November underway, crypto whales are strategically positioning themselves for potential profits. 

These large holders, who heavily influence price trends, are closely eyeing assets with strong growth potential. By analyzing on-chain data, BeInCrypto identifies the altcoins that crypto whales are buying this month, offering valuable insights for retail investors looking to follow the “smart money” in the crypto market.

Maker (MKR)

MKR, the Maker Protocol’s governance token, tops this list of tokens that crypto whales are buying for potential gains in November. 

According to IntoTheBlock, the large holders’ netflow, which measures the difference between the assets whales bought and sold, had increased. When this metric is positive, it means crypto whales bought more than they sold.

When it is negative, it means that they sold more coins. On October 30, the netflow was 85.67 million. But as of this writing, that value has increased to 5,660 MKR tokens, meaning that whales bought 5,575 tokens this week.

Read more: Who Owns the Most Bitcoin in 2024?

Maker crypto whales analysis
Maker Large Holders Netflow. Source: IntoTheBlock

At the token’s current price, this indicates that crypto whales purchased over $7 million worth of MKR. Should the accumulation continue this month, then the altcoin’s price might jump higher than $1,284 in the short term.

Ripple (XRP)

Another token crypto whales are buying is XRP, the native token of the Ripple blockchain payment project. In October, XRP’s price decreased by 12% as crypto whales failed to accumulate many tokens.

But things changed between October 31 and the time of writing. According to Santiment, crypto whales purchased about 2 billion XRP. At the current price, this accumulation is worth over $1 billion.

Typically, when crypto whales buy XRP, the price tends to increase. Therefore, if accumulation continues, XRP erases part of its recent losses. But if whales stop buying within the first few days of the month, the prediction might be invalidated.

XRP whales purchase
Ripple Balance of Addresses. Source: Santiment

Pepe (PEPE)

Pepe is another crypto that whales are buying for potential gains in November. In October, the meme coin, which was once one of the best performers in the market, failed to impress.

This could be linked to the hype around other meme coins, as they appeared to take liquidity off PEPE.  However, the large holders’ netflow showed a notable increase this past week, suggesting that crypto whales are confident of PEPE’s performance this month.

Read more: Pepe (PEPE) Price Prediction 2024/2025/2030

Pepe crypto whales
Pepe Large Holders Netflow. Source: IntoTheBlock

Should that remain the same, then PEPE’s price might rise higher than $0.0000092. On the other hand,  if crypto whales halt buying the token, the price might decline.

Top crypto projects in the US | November 2024
Coinbase Coinbase Explore
Coinrule Coinrule Explore
Uphold Uphold Explore
3Commas 3Commas Explore
Chain GPT Chain GPT Explore
Top crypto projects in the US | November 2024
Coinbase Coinbase Explore
Coinrule Coinrule Explore
Uphold Uphold Explore
3Commas 3Commas Explore
Chain GPT Chain GPT Explore
Top crypto projects in the US | November 2024

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 ConditionsPrivacy Policy, and Disclaimers have been updated.

IMG_3173.jpg
Victor Olanrewaju
Victor Olanrewaju is a technical and on-chain analyst at BeInCrypto, where he monitors the activities of mid- and large-scale investors, commonly known as crypto whales, to detect investment trends across diverse cryptocurrencies, including Bitcoin, altcoins such as Solana, XRP, Cardano, and Toncoin, as well as meme coins like Dogecoin, Shiba Inu, and Pepe. Additionally, he covers emerging trends including Tap-to-Earn games, AI tokens, and real-world assets (RWA). Before joining BeInCrypto...
READ FULL BIO
Sponsored
Sponsored