What is the Whale buying before the White House's crypto report?

Next week will be a crucial time for the crypto market as the Donald Trump administration announces an assessment of the industry in America. Scheduled for issuance on July 30, the White House report on cryptocurrency is drawing attention from investors.

In this context, the article will analyze three altcoins that whales have purchased in the past 24 hours.

Tutorial (TUT)

Tutorial (TUT) has witnessed a strong increase of 20.5% in the last 24 hours. This upward trend is primarily due to investors continuously accumulating TUT. The increase indicates a growing interest, signaling a potential short-term upward price trend.

In the past 24 hours, TUT whales have purchased 30 million coins, worth over 2.4 million dollars. The accumulation activity shows strong investor confidence in the future potential of TUT, especially ahead of a potentially positive report this week.

Such behavior further strengthens the price increase prospects for this altcoin, indicating growing confidence from major investors.

Whale's TUT Holdings | Source: NansenCurrently trading at $0.077, TUT is approaching its next price target of $0.08. If TUT surpasses this level, it could stimulate further optimism among investors. Breaking the $0.08 threshold could potentially push the price higher, attracting more buyers and reinforcing the upward momentum.

Pudgy Penguins (PENGU)

Pudgy Penguins (PENGU) has become one of the most sought-after altcoins as whales accumulated 400 million PENGU, worth over 16.8 million dollars in the past 24 hours.

Large-scale buying activity indicates strong interest from investors and suggests that this altcoin has the potential to continue rising in the short term.

The accumulation activity of whales has driven the price up by 11.7% in the past day. Currently trading at $0.043, PENGU is approaching the all-time high (ATH) of $0.0469. With the current momentum, this altcoin is expected to surpass the ATH mark, pushing the price even higher.

The whale's ownership of PENGU | Source: NansenHowever, if the overall market turns bearish, PENGU may face significant resistance. A price drop below the support level of $0.04 could signal further weakness and even push the price of this altcoin down to $0.0299.

This will negate the growth prospects, therefore potential investors should exercise caution.

Pendle (PENDLE)

PENDLE decreased slightly by 1.8% in the past 24 hours. Although the accumulation from whales has increased, the price has not yet made a strong breakout.

If buying pressure continues to be maintained, this coin could witness a sustainable increase in the near future.

In the past 24 hours, the PENDLE whale has purchased over 30,000 tokens, worth approximately $133,200. This accumulation activity reflects a strategic move by large investors, indicating that an optimistic sentiment is forming.

If demand from whales continues to rise, the price of PENDLE may continue to go up in the coming days.

The amount of PENDLE held by whales | Source: NansenHowever, if whales decide to sell their holdings, PENDLE may face downward pressure. If it falls below the support level of $4.21, this token could drop from the current price of $4.43 to $3.90.

This pessimistic scenario will show a change in investor sentiment, weakening short-term prospects.

Dinh Dinh