Crypto whales, the big players with deep pockets, can often signal new trends in the market through their trading activity.
Their huge buy-ins can create significant price movements – which tend to make headlines.
With that in mind, this article will examine five cryptocurrencies that whales are accumulating heavily in May.
1. Dogeverse (DOGEVERSE)
Meme coins remain in high demand, and whales are taking notice of a new project called Dogeverse (DOGEVERSE).
This cross-chain coin is drawing praise for being the first to launch on six different networks simultaneously: Ethereum, Base, Solana, Avalanche, Polygon, and the BNB Chain.
That ambitious approach is attracting some serious whale interest.
On-chain data reveals that on May 7, one huge buyer scooped up 62 ETH worth of DOGEVERSE tokens in a single transaction.
This purchase amounted to $183,000 worth of DOGEVERSE at the time.
Such a colossal investment from a single whale represents a major vote of confidence in Dogeverse’s multi-chain model.
The project’s presale has also raised $13 million – and the developers are now preparing for DOGEVERSE’s first DEX listing.
With features like 70% APY staking rewards and huge token allocations for marketing and project development, Dogeverse could be on the verge of achieving something special.
2. Ethereum (ETH)
Ethereum (ETH) whales have also been on a buying spree lately, sparking speculation about why they might be accumulating.
Over the past few days, the Whale Alert Twitter account has tracked several enormous ETH transfers worth tens of millions of dollars departing from top exchanges like Deribit and Binance.
One transaction saw a whale shift 11,999 ETH worth over $36 million from Binance to an unknown wallet.
Another saw 9,642 ETH valued at nearly $30 million withdrawn from Binance in a similar fashion.
Such sizable movements signal that mega-whales are removing their stakes from centralized exchanges – perhaps because they believe ETH’s value will continue to rise in the medium-to-long term.
3. Solana (SOL)
Whales are definitely making big moves when it comes to Solana (SOL).
According to Whale Alert, one whale recently transferred a jaw-dropping 11 million SOL tokens worth over $1.5 billion.
The sheer size of the transaction, the biggest on our list, has sparked huge speculation in the crypto community.
Since the transaction occurred between two unknown wallets, some suspect it could be an investor moving funds into an ultra-secure cold wallet for the long haul.
If this were true, it would suggest the whale believes in SOL’s long-term price prospects.
Others speculate that the whale might just be positioning for liquidity purposes.
Curiously, this isn’t the first time a massive SOL transaction has turned heads in recent weeks.
So, while the intentions of these whales remain mysterious, their high-value movements clearly highlight the growing interest in Solana.
4. Render (RNDR)
Crypto whales also seem to be turning towards Render (RNDR) after the token’s recent bullishness.
The Twitter account Lookonchain highlighted how one whale moved $5.3 million worth of RNDR off of Binance less than two weeks ago.
Another whale raked in over $480,000 in profit from their previous RNDR trades.
In fact, over just the past five days, this whale scooped up $3.6 million worth of RNDR at an average buy price of $9.19.
Not to be outdone, two other whales also executed multi-million dollar purchases of RNDR in recent days.
This heightened activity suggests that RNDR, the token that powers the Render network, is firmly on the radar of heavyweight investors.
5. Pepe (PEPE)
Last but not least is Pepe (PEPE), another meme coin that is catching the eye of crypto whales.
According to Lookonchain, a brand new Ethereum wallet made a massive $2.9 million purchase of PEPE today.
The anonymous whale withdrew all 357.34 billion tokens from Binance in one fell swoop.
Such a large buy order represents a huge bet on PEPE’s price potential.
While PEPE may have struggled recently, this endorsement from a high-net-worth investor could give the token renewed momentum – and help push it back toward March’s all-time high.
