TL;DR

Whales snapped up 1.22 billion XRP in under a week, worth over $3.8 billion, reducing the circulating supply and signaling potential bullish momentum. Big investors also purchased billions of DOGE tokens, while analysts believe the meme coin has yet to stun the community with an impressive price increase. BNB surged to a new ATH, whereas its market cap surpassed that of Nike.

Accumulating XRP en Masse

Large Ripple investors have been very active lately, increasing their exposure to XRP. Yesterday (August 14), the X user Ali Martinez revealed they have purchased 320 million tokens in the span of 72 hours. Prior to that, they scooped up 900 million XRP in just two days.

The USD equivalent of the combined accumulated stash stands at over $3.8 billion (calculated at current rates) and could be interpreted as a bullish signal.

After all, purchases of that type reduce the amount of XRP tokens on the open market, which, paired with non-declining demand, should push the price up. The buys also play a psychological role by encouraging smaller players to hop on the bandwagon, too.

Meanwhile, XRP has experienced significant turbulence over the past week. Its price was gradually heading north, reaching a peak of almost $3.35 on August 14, but crashed to nearly $3 several hours ago amid an overall correction of the crypto market. The bulls managed to recover some lost ground, and currently, Ripples cross-border token trades at around $3.12 (per CoinGeckos data).

DOGE Whales on the Move, too

Whales spent a little less than $500 million to amass two billion DOGE last week. Thus, they increased their total possessions to 27.6 billion coins, or roughly 18.3% of the meme coins circulating supply.

The effort caught the attention of the crypto community, with some speculating that the whales might have inside information about a significant upcoming event.

2B DOGE in 7 days? Either they know something we dont… or were about to find out the hard way, one X user said.

Similar to XRP, the largest meme coin experienced substantial volatility in the last seven days but remains in green territory within that timeframe. Its current valuation is around $0.23, with many analysts envisioning further gains in the short term. KALEO is among the biggest optimists, predicting a price explosion to the unprecedented (and somewhat ridiculous) level of almost $7.

BNB Made History

The native cryptocurrency of Binance hit a new all-time high price of $866 on August 14. Its market capitalization briefly surged past $120 billion, making the asset bigger than Nike, Nintendo, and other well-known brands. 

Binance Coin (BNB) slightly retraced in the following hours and currently trades at around $850, but it remains the subject of bullish forecasts. 

X user Crypto Raven expects the price to soar beyond $1,000 in Q4 this year. Ali Martinez also outlined an optimistic view, saying:

I’m bullish on $BNB. Public companies, a sovereign fund, and even treasury arms are holding it, some positions worth hundreds of millions.

It’s also one of the top-performing altcoins this year, now in price discovery after breaking new all-time highs.

Owning $BNB is like… https://t.co/clZLGDHG3y