Significant activity has been observed among Dogecoin and Ripple whales ahead of Trump's inauguration, potentially influenced by Elon Musk's comments and governmental changes.
DOGE Whales Influenced by Musk's Comments
Crypto analysts highlight a recent surge in Dogecoin trading activities. Whales have amassed approximately 470 million DOGE within 48 hours. This was largely driven by Elon Musk's remarks about potential crypto price changes in relation to dollar inflation. Consequently, Dogecoin's price saw a 20% decline, though it has since partially recovered.
XRP Whales Confidence is High
XRP has seen increased interest from large investors, who purchased 1 billion XRP coins recently. This activity may be linked to Ripple Labs' transfer of 300 million XRP to an unidentified wallet. Despite these events, XRP's price fluctuated between $2.36 and $2.26.
Future Market Prospects
Currently, the crypto market exhibits typical volatility patterns. While investors pay close attention to Musk's statements and new governmental appointments, predicting the market's next moves remains challenging.
The rising activity among Dogecoin and Ripple whales is tied to both inauguration expectations and Elon Musk's remarks. This could lead to further fluctuations as economic factors and investors' sentiment play a crucial role in shaping future market trends.