Crypto Whales Are Buying 3 Altcoins After Dogecoin (DOGE) Surge

Last week’s crypto rally led by Dogecoin (DOGE) also rejuvenated the altcoins market with significant price rise. It also meant large crypto investors prioritizing some altcoins over others for accumulation. Despite a minor slump over the weekend, DOGE price is still a dominant factor in the current market scenario. On a weekly basis, the top memecoin is currently up by around 104% compared to a week ago.

Elon Musk’s official takeover of Twitter on October 27 led to the skyrocketing of Dogecoin, and in turn the entire crypto market. In this context, speculation is around that Musk could enable Dogecoin (DOGE) based payments for Twitter subscription. As of writing, DOGE price stands at $0.1213, down 1.53% in the last 24 hours, according to price tracking platform CoinMarketCap.

Short Altcoin Season Is Here?

Meanwhile, it appears that the crypto whales are accumulating a few altcoins in the wake of the latest pump in prices led by DOGE. According to crypto influencer Ran Neuner, said a few altcoins are seeing increased buying activity. “Crypto whales are aggressively accumulating 3 altcoins.” He indicated that Chainlink (LINK) is undervalued as it has been in the accumulation range for along time now. Suddenly, the tokenomics have changed.

The influencer suggested that it is a good time to accumulate LINK. The reason is an important change in Chainlink’s tokenomics. “You can’t ignore LINK anymore.” As of writing, LINK price stands at $7.98, up 5.35% in the last 24 hours, according to price tracking platform CoinMarketCap. LINK is currently ranked 21 on the platform based on market capitalization. He also suggested that DOGE is currently looking great in terms of growth prospects with Elon Musk’s acquisition of Twitter. He even wondered if Dogecoin would be integrated into Twitter’s various use cases, going forward.

FIFA World Cup Momentum For Crypto

Neuner sugested that it could be a good buy opportunity for the 42 ranked Chiliz (CHZ) token. With the FIFA World Cup around the corner CHZ could pump as it is one of the most popular fan tokens. As of writing, CHZ token price stands at $0.2192, down 0.82% in the last 24 hours. The FIFA World Cup Qatar 2022 is scheduled to begin on November 20.

Anvesh reports major developments around crypto adoption and trading opportunities. Having been associated with the industry since 2016, he is now a strong advocate of decentralized technologies. Anvesh is currently based in India. Follow Anvesh on Twitter at @AnveshReddyBTC and reach him out at [email protected]

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.