Dogecoin, XRP Witness Significant Whale Activity: Analysts Expect 'Something Big'

Two altcoins witnessed significant whale activity in the past 24 hours.

What Happened: An unknown wallet address transferred 71.2 million Dogecoin DOGE/USD (worth $6.4 million) to a Robinhood wallet address and 40.03 million to another unknown wallet address, according to Whale Alert.

Another transaction shows that an unknown wallet address transferred 367.06 million DOGE ($33.6 million) to another unknown wallet address.

Also Read: Crypto Analyst Foresees Dogecoin Rally After Potential Support Flip To This Level: 'FLOKI Will be The Big Pumper To Follow Too'

As for XRP, the cryptocurrency created by Ripple Labs XRP/USD:

• A Binance wallet address transferred 300 million in XRP to an unknown wallet address.
• The tokens were worth $185.058 million.
• In another transaction, 139.4 million XRP was transferred between two unknown wallet addresses.
• In a third transaction, an unknown wallet address transferred 27.8 million to a Bitstamp address.
• A fourth transaction involved the transfer of 70 million XRP from a Ripple wallet address to an unknown wallet.

Data shows that the XRP Ledger reported an unexpected surge in activity, with daily transactions expanding 350% within the past 24 hours to 4.11 million transactions. This is the highest in the last two years. In November 2021, transactions stood at a record 5.09 million.

Also, the number of new accounts activated stood at 20,183 highest in the last two years last being in November 2021 (21,251).

Why It Matters: Close observers of the activity have varying takes on what all this activity could mean.

Crypto Daily Trade Signals predicts that “#Dogecoin Will do something Big in 15 Days.”

Another user, @itsALLrisky said, “2024 goal: say "Dogecoin to the moon!" at least once per day”

An account known as Doge-Panda wrote, “Ain’t nothing holding Ðogecoin down…hope y’all bought the dip n is getting ready to be on this rocket #dogecoin.”

Dogecoin creator Billy Markus, widely known as Shibetoshi Nakamoto, also chimed in, asking his followers on Dec. 24: “Which is better, Solana or Ethereum? my opinion on which one is better is whichever community tips me more!”

He went on to add his SOL and ETH addresses on the post and within just five hours he collected over $10,000 in various cryptocurrencies, with his Ethereum wallet receiving $8,200, primarily in ETH. The Solana wallet collected almost $2,000 in various assets which was a mix of Solana tokens.

Crypto YouTuber Ben Armstrong expects XRP "will start moving" in the next three to four weeks. "Pack your bags bois it's about go-time,” he said.

Financial blog WallStreetBulls took to X and said, “Only 2.7 billion XRP, less than 5% of the total supply, remains available in the market! With limited supply until Ripple's next escrow release, the opportunity to purchase XRP is narrowing. Remember, Ripple often reacquires a portion of XRP upon release, ensuring even less is publicly available. Act fast – this might be your chance before the next cycle!”

Another crypto YouTuber, Crypto Rover, took to X and said, “Once $XRP breaks out of this pattern. The breakout will be massive.”

Price Action: In the past 24-hour trade, DOGE has seen a 3.7% surge while XRP posted a 3.1% increase in the same timeframe.

Read Next: Mike Novogratz Reconsiders Ripple - 'XRP Army Is Real'; Questions Use Of Bitcoin As Currency