Key Insights:
- Top altcoins like SHIB, ENA, and MORPHO are drawing whale attention as prices sit far below earlier highs.
- Shiba Inu whale holdings rose 4.67% while the bull–bear power indicator flips toward strength.
- Morpho and Ethena show rising large-holder demand, but each still needs to clear key resistance levels to confirm a trend change.
Top altcoins are getting attention as crypto whales look for good entries before Black Friday. These whales often buy when prices fall a lot, and many tokens are now far below their earlier highs.
In this story, we look at three different types of altcoins: A well-known meme coin, a DeFi token linked to lending activity, and a popular project that has been active through this cycle.
All three trade at discounts and show early signs that large holders are slowly returning.
Shiba Inu (SHIB): One of the Top Altcoins on the List
Shiba Inu is one of the top altcoins that still trades at a discount. It is down about 65% in one year and almost 90% below its all-time high. This large drop is why whales have started buying again.
In the past 30 days, whales increased their SHIB holdings by 4.67%, and they now hold 86.89 billion SHIB. This shows they see the price as cheap compared to last year.
The price has also moved up by about 18% since Nov. 21. This happened after the bull–bear power turned green.
Bull–bear power is a simple tool that shows if buyers or sellers are stronger. Green bars mean buyers lead. Red bars mean sellers lead.
The last time this tool turned green in early November, SHIB made a short move up. It has turned back again now.
SHIB needs to close above $0.0000088 to show a stronger recovery. If it also breaks $0.0000102, the bullish move can continue.
But if SHIB drops below $0.0000075, the move can fail again. So the token needs to hold above support and build slowly for any strong upside.
Morpho (MORPHO): A DeFi Coin at a Price Cut
Morpho is a DeFi borrowing and lending token. DeFi tokens have been strong this cycle because users want better returns and lower fees. Even then, Morpho is still down 63% from its January all-time high.
This discount triggered more whale activity.
In the last 30 days, the top 100 holders increased their supply by 3.18% to 966.36 million MORPHO.
Public-figure wallets also increased holdings by more than 1,000%.
Morpho trades near $1.50 right now. The RSI is around 34, which means the token is oversold. Oversold RSI often signals room for a bounce.
Morpho must break $1.98, which is a 31% jump from now.
If it breaks this level, it can move toward $2.49, which is the next strong resistance.
If Morpho falls under $1.42, it can drop toward $1.09, which would extend the discount even more.
So Morpho has a path to recovery, but buyers need to first break the resistance level cleanly.
Ethena (ENA): Crypto Whales Returning After a While
Ethena (ENA) has traded through heavy moves this year. It is still down about 51.6% in one year and almost 81% below its April 2024 all-time high. This big discount has started to pull whales back in.
On-chain data shows two clear waves of whale buying.
One large wallet bought about 14.56 million ENA from major trading firms like Binance and Wintermute.
Another whale added around 25 million ENA and now holds about 285.15 million ENA, worth more than $76 million at recent prices.
This slow, steady buying suggests big players are building positions while prices are still low.
Some analysts now expect a bounce.
A few public calls point to a possible move toward $0.80 if the market calms down. Our chart also shows the bull–bear power has turned green.
Bull–bear power is a simple tool that compares buying strength to selling strength. When it stays green for many days, buyers usually take back control from sellers.
At press time, Ethena trades near $0.289. For the move to look stronger, the price must close above $0.294. If this level breaks with good volume, the next key target is around $0.33, which is a major resistance line on the chart.
If ENA instead falls below $0.218, the rebound idea becomes weaker again, and the token could go lower.
For now, the setup is simple: Whales are buying at a big discount, and early strength is showing on the indicators. But Ethena still needs to break $0.294 and then $0.33 to prove that this is more than just a small bounce. And it is one of the top altcoins being closely watched before the Black Friday period.