2024

bullish

Dogecoin

<p><strong>TL:DR;</strong></p> 
<ul> 
 <li>The entire cryptocurrency market experienced sharp declines in the past few days before prices recovered, with BTC jumping above $100,000 once again.</li> 
 <li>On-chain data shows that whales holding some of the biggest and most popular crypto assets used this opportunity to stack up.</li> 
</ul> 
<p><a href="https://cryptopotato.com/wp-content/uploads/2024/09/BTC-Whales_CB.jpg" data-wpel-link="internal"></a></p> 
<h2 id="btc-whales-buying">BTC Whales Buying</h2> 
<p>Recall the price events that transpired since the start of the week. Bitcoin tried its hand at taking down $100,000 on a couple of occasions during the weekend, but each was met with a severe correction that pushed it south hard. In fact, the largest cryptocurrency <a href="https://cryptopotato.com/crypto-market-cap-slumped-by-300-billion-amid-btc-altcoin-massacre-market-watch/" data-wpel-link="internal">dumped</a> by over six grand twice and slipped to $94,400 on Monday and Tuesday, where it actually found the necessary support.</p> 
<p>It <a href="https://cryptopotato.com/xrp-jumps-6-daily-btc-eyes-98k-after-drop-to-94k-market-watch/" data-wpel-link="internal">bounced off</a> yesterday in a quite impressive fashion, gaining almost eight grand in less than a day from its aforementioned bottom to $102,000 (local peak on Bitstamp).</p> 
<p>These violent price swings <a href="https://cryptopotato.com/over-1-4-billion-in-liquidations-as-bitcoin-btc-dumps-by-6k-in-hours/" data-wpel-link="internal">liquidated</a> over 500,000 over-leveraged traders at one point and they usually tend to push the so-called ‘weak hands’ out of the market. However, those with stronger convictions, usually larger investors, use these corrections to accumulate more of the asset.</p> 
<p>This was the BTC case, according to on-chain data shared by popular analyst Ali, who noted that 342 big wallets (containing at least 100 bitcoins) were created during this retracement.</p> 
<blockquote class="twitter-tweet"> 
 <p dir="ltr" lang="en"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank">#Bitcoin</a> whales are buying every dip! In fact, 342 wallets with over 100 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank">$BTC</a> were created as prices dropped from $104,000 to $90,000. <a href="https://t.co/cMJRnshOAt" data-wpel-link="external" target="_blank">pic.twitter.com/cMJRnshOAt</a></p> 
 <p>— Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1866829285815882134?ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank">December 11, 2024</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<p>Lookonchain <a href="https://x.com/lookonchain/status/1867059169922257096" data-wpel-link="external" target="_blank">said</a> that even when BTC spiked above $100,000 once again, whales continued to accumulate, with a single one buying 201 BTC at such high prices.</p> 
<h2 id="xrp-and-doge-too">XRP and DOGE, Too</h2> 
<p>But it’s not just bitcoin. It seems wealthy investors are highly bullish on other cryptocurrencies as well, such as Dogecoin (DOGE) and Ripple (XRP).</p> 
<p>Further data shows that whales bought over 100 million XRP during the asset’s crash, from over $2.4 to under $2. It was one of the <a href="https://cryptopotato.com/why-is-ripples-xrp-price-down-by-17-today/" data-wpel-link="internal">poorest performers</a> at one point during the market-wide corrections, but it managed to erase all losses and is back above $2.4 as of now.</p> 
<blockquote class="twitter-tweet"> 
 <p dir="ltr" lang="en">In the recent dip, whales bought over 100 million <a href="https://twitter.com/search?q=%24XRP&amp;src=ctag&amp;ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank">$XRP</a>! <a href="https://t.co/xU2YscIkvj" data-wpel-link="external" target="_blank">pic.twitter.com/xU2YscIkvj</a></p> 
 <p>— Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1866779623834493167?ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank">December 11, 2024</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<p>Being the largest and oldest rep of the ever-volatile meme coin sector, DOGE was not <a href="https://cryptopotato.com/meme-coin-bloodbath-bonk-floki-wif-shib-and-doge-crash-by-double-digits/" data-wpel-link="internal">spared</a> from the volatility either. Its price slumped from $0.44 to under $0.37 before it bounced back to well above $0.4. During this crisis, DOGE whales accumulated 210 million of the asset.</p> 
<blockquote class="twitter-tweet"> 
 <p dir="ltr" lang="en"><a href="https://twitter.com/hashtag/Dogecoin?src=hash&amp;ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank">#Dogecoin</a> whales bought 210 million <a href="https://twitter.com/search?q=%24DOGE&amp;src=ctag&amp;ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank">$DOGE</a> during the recent price correction! <a href="https://t.co/0vG2iN1fvJ" data-wpel-link="external" target="_blank">pic.twitter.com/0vG2iN1fvJ</a></p> 
 <p>— Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1866987561182277804?ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank">December 11, 2024</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<p>The post <a href="https://cryptopotato.com/heres-what-btc-doge-xrp-whales-did-during-the-market-correction/" rel="nofollow">Here’s What BTC, DOGE, XRP Whales Did During The Market Correction</a> appeared first on <a href="https://cryptopotato.com/" rel="nofollow">CryptoPotato</a>.</p>

Here’s What BTC, DOGE, XRP Whales Did During The Market Correction

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