DOGE and XRP whales buying coins in the billions

Whale Activity Surge Prior to Trump's Inauguration

The enthusiasm of whales has intensified leading up to Trump's inauguration. Dogecoin (DOGE) whales have reportedly accumulated close to one billion coins, while Ripple (XRP) whales have acquired one billion XRP coins within the past two days.

DOGE Whales Influenced by Elon Musk

DOGE whales appear to be responding to Elon Musk's recent cautionary remarks about cryptocurrency price volatility.

• "If dollar inflation is solved, the price in dollars to buy cryptocurrency will actually drop, other things being equal. What matters is the ratio of dollars to crypto." - Elon Musk (@elonmusk), January 7, 2025

Data indicates that approximately 690 million DOGE tokens were traded within two days following Musk's comments.

XRP Whales Confident

Ripple whales have recently increased their holdings, particularly in South Korea. The "XRP army" remains optimistic about the cryptocurrency, following the resignation of Gary Gensler, a former adversary of the coin, and the formation of a new government.

Musk's Comments Impact DOGE

Crypto analysts highlight the recent trading frenzy surrounding Dogecoin, with whales accumulating roughly 470 million DOGE within 48 hours.

Elon Musk's statements on crypto pricing have sparked diverse interpretations. Musk suggested a potential decline in Bitcoin and Dogecoin values based on the resolution of dollar inflation.

These assertions imply that improved economic conditions could lead to a reduction in the dollar-to-crypto price ratio. Musk's influence reflects the broader economic factors impacting crypto values.

Despite the initial drop in Dogecoin's price following Musk's comments, it has since recovered to $0.33189, indicating a slight market rebound.

XRP Whale Accumulation

XRP's recent price increase may be attributed to the observed accumulation by large-scale investors. Ripple whales acquired one billion XRP coins within 48 hours.

Ripple Labs' recent transfer of 300 million XRP to an unidentified wallet may have triggered this trend.

XRP's price fluctuated between $2.36 and $2.26 within 24 hours, with a slight decline in trading volume. Analysts anticipate a potential rally in the coming days.