Whales Were Stacking These Coins Before the 2024 U.S. Election

November 8, 2024 at 11:15 AM GST | Updated: November 7, 2024 at 11:11 PM

2-minute read

Bitcoin, Ethereum, and Dogecoin Primed for Post-Election Surge

Despite ongoing market volatility, whales are accumulating top cryptocurrencies as they anticipate potential gains after the upcoming election. Here are three tokens to watch:

Bitcoin (BTC)

Bitcoin has exceeded the $75K support level, gaining 1.5% in 24 hours and 8.33% over the past month. Despite neutral indicators, bulls aim to surpass the new all-time high of $76.78K, while bears may push the price towards $60,000.

Ethereum (ETH)

Ethereum's price fluctuates within a narrow range, reflecting balanced buying and selling pressures. The 50-day EMA provides resistance, indicating potential for mixed price action. If bullish sentiment prevails, ETH may reach $2,900, but a downtrend could lead to $2,200 support.

Dogecoin (DOGE)

Despite a 6.36% drop in 24 hours, DOGE remains bullish with a 9.91% weekly gain and a 40.47% monthly gain. The RSI and SMA indicators hint at potential bearish pressure, but a surge in bullish momentum could push DOGE towards $0.18225 resistance. Conversely, a bearish shift may drive the price to $0.127 support.

As whales accumulate these tokens, their actions suggest an anticipation of post-election profits. Investors may consider monitoring these three tokens closely for potential investment opportunities as the election nears.