Whales Are Buying These Coins Ahead of White House Crypto Report

Next week is crucial for the cryptocurrency market as the Trump administration releases its assessment of the cryptocurrency industry in the US. The White House's cryptocurrency report on July 30 is creating great expectations among investors.

Meanwhile, BeInCrypto has analyzed three altcoins that "whales" have bought in the past 24 hours.

Tutorial (TUT)

TUT has seen a strong increase, with prices rising 17.68% in the past 24 hours. This increase is mainly due to the steady accumulation of TUT by investors. This indicates growing interest in this altcoin, signaling a potential short-term price increase trend.

In the past 24 hours, TUT whales have bought 30 million TUT, valued at over $2.4 million. This accumulation shows strong investor confidence in TUT's future potential, especially before a potentially positive report this week.

This behavior reinforces the price increase prospects for the altcoin, showing increasing confidence of large investors.

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Currently trading at $0.072, TUT is approaching its next price target of $0.080. If TUT successfully breaks through this level, it could stimulate increased optimism among investors. Surpassing $0.080 could push prices higher, attracting more buyers and consolidating the price increase momentum.

Pudgy Penguins (PENGU)

PENGU has become one of the most sought-after altcoins, with whales accumulating 400 million PENGU, valued at over $16.8 million in the past 24 hours.

This large-scale buying activity shows strong investor interest and suggests that this altcoin is preparing for the next short-term growth.

Whale accumulation has led to a 17% increase in PENGU's price over the past day. Currently trading at $0.043, PENGU is approaching its All-Time-High (ATH) of $0.0469. With the current momentum, this altcoin is expected to surpass its ATH, pushing prices even higher.

However, if the broader market turns bearish, PENGU could face significant resistance. Dropping below the $0.040 support level could signal further weakness, potentially pushing the altcoin down to $0.0299.

This would invalidate the price increase prospects, suggesting caution for potential investors.

Pendle (PENDLE)

PENDLE has increased by 5% in the past 24 hours, signaling potential for further growth. Although whale accumulation has increased, a significant price surge has not yet occurred.

If buying pressure continues, this cryptocurrency could see a sustainable price increase in the near future.

In the past 24 hours, PENDLE whales have bought over 30,000 tokens, valued at approximately $133,200. This accumulation reflects a strategic move by large investors, indicating potential bullish sentiment.

If demand from these whales increases, PENDLE may see its price continue to rise in the coming days.

However, if whales decide to sell their holdings, PENDLE could face downward price pressure. Dropping below the $4.21 support level could lead to the token falling from its current price of $4.43 to $3.90.

This price decline scenario would suggest a change in investor sentiment, weakening the altcoin's short-term prospects.