🚀 What Whales Are Buying For Potential Gains in June 

In the last week of May, the cryptocurrency market experienced a slowdown in trading activity as participants took profits following recent rallies.

Despite this brief lull, several altcoins have caught the attention of large investors, commonly known as whales.

🔸 Dogecoin (#DOGE )

The leading meme coin, DOGE, is among the assets crypto whales are accumulating for potential gains in June. This trend is reflected in the recent surge in DOGE accumulation among whale wallets holding between 1 million and 10 million tokens.

According to Santiment, this group of DOGE whales added 30 million tokens to their wallets over the past week.

Such buying activity by whales often serves as a strong signal to retail traders. Seeing large investors confidently increase their positions can encourage retail participation. This could drive up DOGE’s value as buying momentum builds across the market.

If buying pressure subsists, the token could resume its rally and climb to $0.206.

However, if whale accumulation stalls and selloffs strengthen, DOGE’s value could fall to $0.175.

🔸 Avalanche (#AVAX )

Layer-1 (L1) coin AVAX is another asset crypto whales are holding for gains in June. This is reflected by the 474% uptick in the coin’s large holders’ netflow in the past seven days.

Large holders are whale addresses that hold more than 0.1% of an asset’s circulating supply. Their netflow tracks the difference between the coins they buy and the amount they sell over a specific period.

When an asset’s large holders’ netflow increases, more of its tokens are flowing into the wallets of these major investors than are flowing out. This trend indicates that AVAX whales are accumulating the asset, signaling confidence in its future value.

AVAX could witness a rebound and surge to $24.28 if whale accumulation continues.

On the other hand, the altcoin’s price could extend its decline to $14.66 if the whales begin to sell for profit.