Next week is crucial for the cryptocurrency market as the Trump administration is set to release ratings for the U.S. crypto sector. The White House report due on July 30 has generated anticipation among investors.
In light of this, Beincrypto has examined three altcoins that large investors, or whales, have acquired in the last 24 hours.
TUT
TUT has experienced a notable increase, with prices climbing 17.68% in the past day. This uptick is largely attributed to persistent buying from investors. Such growth hints at a rising interest in altcoins and suggests a potentially bullish trend in the near future.
In the last 24 hours, TUT whales bought up 30 million units, placing their value over $2.4 million. This accumulation reflects strong confidence among investors regarding TUT’s prospects, especially with positive reports expected this week.
This activity strengthens the bullish outlook for TUT and indicates growing trust among major holders.
Currently priced at $0.072, TUT is nearing its next target of $0.080. If it surpasses this point, it could enhance investor optimism. A break above $0.080 may lead to a price surge, attracting even more buyers and bolstering bullish momentum.
Pendle
Pendle has seen significant whale activity, with purchases totaling 400 million tokens valued at over $16.8 million just in the last day, making it one of the most sought-after altcoins.
This substantial buying spree illustrates entrenched interest from investors, suggesting that Pendle is poised for further gains soon.
Whale investments have driven a 17% price increase for Pendle recently. Currently, it trades at $0.043 and is inching towards its all-time high of $0.0469. Given the current momentum, there’s a solid expectation that it could breach that ATH and rise further.
However, Pendle might encounter significant resistance if the broader market shifts into a bearish phase. Falling below the support level of $0.040 could signal more weakness, potentially dragging the altcoin down to $0.0299. This would negate the bullish outlook and highlights the need for careful monitoring by investors.
Pendle (Pendle)
Pendle has recorded a 5% price increase in the past 24 hours, hinting at possible upward movement. Even though whales have increased their holdings, there hasn’t been a noticeable jump in price yet.
If buying pressure continues, the cryptocurrency may witness a sustained rally soon.
In the last day, Pendle whales acquired over 30,000 tokens worth approximately $133,200. This trend reflects strategic maneuvers by larger investors, indicating a potential bullish sentiment.
If demand continues to rise among these whales, Pendle’s price may see increases in the coming days.
Yet, if whales opt to liquidate their assets, Pendle might face downward pressure. Should it drop below the $4.21 support level, we could see a fall from $4.43 to $3.90 from its current standing.
This bearish scenario implies a possible shift in investor sentiment, casting doubt on altcoin’s short-term outlook.
