Crypto Whales Boost Accumulation of Dogecoin, Ethereum, and Shiba Inu Amid Market Rally Following Trump Election Victory

The market uptrend sparked by Donald Trump’s victory in the November 5 presidential election has now entered its third week. Many major cryptocurrencies are hitting new all-time highs. At the same time, smaller tokens are seeing sharp value spikes. Traders are enjoying significant gains.

Crypto whales are taking notice. They are ramping up their accumulation of select assets. This week, they’ve been buying Dogecoin (DOGE), Ethereum (ETH), and Shiba Inu (SHIB).

Dogecoin is a leading meme coin, and it’s one of the altcoins that crypto whales purchased this week. The data from IntoTheBlock shows a 112% increase in the netflow of large holders during this review period.

So, what does that mean? Large holders are addresses that own more than 0.1% of an asset’s circulating supply. Their netflow tracks the difference between what they buy and sell over a specific period. When this netflow rises, it indicates that these whales are buying more coins. This is a bullish sign, suggesting a potential sustained rally.

Ethereum has also caught the attention of these whales this week. Despite its price fluctuating between $3,396 and $3,043 over the past 14 days, interest remains strong.

According to BeInCrypto, whale addresses holding between 100,000 and 1,000,000 ETH have accumulated an additional 380,000 ETH in just seven days. That’s valued at about $1.27 billion at current market prices.

As of now, Ethereum is trading at $3,342. If whales keep investing in this altcoin, its price could rise toward $3,500 soon.

Shiba Inu whales have also been active this week. On November 14, the balance of addresses holding between 10,000 and 1,000,000 SHIB was 127 billion SHIB. Now, it has jumped to 129 billion SHIB. This means this group of SHIB holders bought 2 billion SHIB during the past week.

If this trend of accumulation continues, the value of the meme coin could increase further. It’s an exciting time in the crypto market!