Amidst the volatile cryptocurrency market, where altcoins are experiencing rapid downtrends, Bitcoin (BTC) is making efforts to bounce back from its recent low. At the time of writing, the BTC price stands at $56,400, showcasing resilience. The anticipated major market correction occurred as BTC plunged from $58,800 to $53,495. This raises curiosity about the altcoins that whales, prominent investors in the crypto ecosystem, are showing interest in during this phase of market turbulence.

Notable Altcoins Drawing Whales' Attention

Whales, a term used for large players in the cryptocurrency realm, hold significant amounts of digital assets in their wallets, influencing market dynamics. Whether veteran investors or institutional players, their actions often sway prices, making their moves a focal point for market observers.

Despite the ongoing market challenges, whales have been actively involved in altcoin acquisitions. Let's explore the specific altcoins that have captured their interest:

Dogecoin (DOGE)

Experiencing a recent 25% price drop over 24 days, Dogecoin remains resilient in the eyes of whales. The decline prompted increased whale activity, as observed by IntoTheBlock data. In the initial week of July, DOGE whales purchased $23.7 million worth of tokens at $0.11 per unit, marking a significant 175% surge compared to the preceding month.

Optimism (OP) Coin

As a leading layer2 solution on Ethereum, Optimism has garnered substantial investor attention. Despite a 30% price dip in recent times, OP Coin has maintained its allure. Unlocking events in July influenced the price decline, with Santiment data revealing a notable 11.27% increase in whale holdings of 1 to 10 million OP Coins.

PEPE Coin

PEPE Coin witnessed an impressive 2237% surge in whale activity, signaling significant investor interest. Although the coin reached a new all-time high recently, attracting whales seeking swift gains, the surge did not lead to a sustained price increase, with PEPE Coin retracing back to May levels.

For detailed insights, reference the original article on COINTURK NEWS: Whales Purchase Altcoins During Market Dip.