Whales have been making significant purchases of Dogecoin (DOGE), Injective (INJ), and PAAL AI (PAAL), signaling a growing interest in these cryptocurrencies. DOGE, for example, has seen an increase in whale addresses from 660 to 671 in the past week, coupled with a 5% price uptick, pushing its market cap close to $47 billion. This trend of accumulation by large holders indicates a rising interest among key market players, potentially supporting the token’s price stability.
On the other hand, Dogecoin’s 24-hour trading volume has dropped by 7.5%, suggesting a decrease in immediate market activity. Despite this, the continued accumulation by whales suggests a sustained confidence in the asset, laying the groundwork for potential future price growth. If this accumulation trend persists, DOGE may maintain its upward momentum, although the decline in trading volume could limit near-term price volatility.
Similarly, Injective (INJ) has witnessed a resurgence in whale accumulation following a period of inactivity. The number of addresses holding between 100,000 and 1,000,000 INJ has increased from 40 to 43, while those holding between 10,000 and 100,000 rose from 84 to 90. Injective has also experienced a 6% gain in the last week, reaching a $2 billion market cap. The uptick in whale activity indicates confidence among major investors, potentially supporting the token’s upward trajectory in the short term.
As for PAAL AI (PAAL), whales have been buying into the coin, which has surged by 94% in the last 30 days, benefiting from the rising interest in projects that combine crypto and artificial intelligence. The number of wallets holding between 100,000 and 1,000,000 PAAL has increased from 477 to 490, indicating a stable investor base despite the substantial price increase. This trend suggests that investors are holding onto their positions rather than selling, signaling confidence in PAAL’s potential for further growth.
However, the stable wallet activity for PAAL also suggests that the token may be entering a consolidation phase, where market participants are waiting for the next catalyst to determine its short-term direction. Overall, the increased whale accumulation in Dogecoin, Injective, and PAAL AI underlines the growing interest in these cryptocurrencies among key market players. This accumulation could potentially support the price stability and upward momentum of these coins in the near future.
