Ripple, Dogecoin Whales Bought the Dip as XRP, DOGE Prices Soar

Investors Accumulate DOGE and XRP Amid Market Correction

Investors with strong beliefs in specific assets often utilize significant market corrections as opportunities to increase their holdings. This has been observed recently with two of the largest cryptocurrencies, Dogecoin (DOGE) and Ripple (XRP).

On-chain data indicates that large wallets have invested millions of dollars in both assets during the recent market downturn.

Market Crash and Altcoin Collapse

The recent market crash caught many investors off guard, with billions of dollars in liquidations occurring over a short period. All crypto assets experienced significant losses, with Bitcoin (BTC) leading the decline from over $108,000 on Tuesday to $92,000 on Friday. Altcoins, including DOGE and XRP, were particularly hard hit.

Dogecoin dropped from over $0.41 to a low of $0.26 on Friday, while XRP plummeted from $2.72 to $1.96. However, both assets have since rebounded, with DOGE trading near $0.34 (30% higher) and XRP at $2.3 (up by 17%).

Whales Accumulate DOGE and XRP

On-chain data from crypto analyst Ali Martinez shows that whales actively purchased both assets during the correction. Ripple whales have acquired 80 million tokens since December 17, while Dogecoin whales have accumulated over 250 million DOGE.

These large-scale purchases have contributed to the recent price increases in both assets by reducing immediate sell pressure.