Whales in the cryptocurrency market have been pivotal in predicting market trends, particularly during the Solana meme coin craze. While many whales sold off investments in popular coins like Solana, Ethereum, and Bitcoin after the 3.5% CPI release, they have still been actively investing in other altcoins. Three altcoins that whales are currently bullish on include Pendle (PENDLE), Maker (MKR), and Fren Pet (FP).
Pendle has seen a surge in investor interest, with on-chain analytics platforms noting significant whale accumulation of PENDLE tokens worth millions of dollars. Wallet addresses like 0xe675 and 0xAa4c have withdrawn substantial amounts of PENDLE tokens from exchanges, indicating a growing interest in the cryptocurrency. With a 27% price rally in a week and a 115% increase in a month, Pendle Finance is attracting fresh investments and generating substantial fees and revenues.
Meanwhile, Maker (MKR) has caught the attention of both whales and institutional investors, with MakerDAO expanding its debt ceiling to $1 billion for Ethena’s USDe synthetic dollar. On-chain platforms have reported significant withdrawals of MKR tokens from Binance, with the price of MKR currently trading at $3,411. Fren Pet (FP), a crypto mobile game token, has also seen a notable price increase and heavy buying activity by whales. With a 45% price increase in the last 24 hours and a trading volume surge of 800%, Fren Pet has become a lucrative investment option for whales and retail traders alike.