Whales Dive into Altcoins: Floki Surges 286% Amidst Market Dip

Crypto markets are abuzz with speculation as whale activity surges, focusing on altcoins like Floki, AAVE, Jasmy, and ApeCoin. Floki, a popular meme coin, has seen a 286% increase in whale activity over the past seven days, while AAVE, JasmyCoin, ApeCoin, and Cronos have experienced jumps of over 144% during the same period.

Investors appear to be buying the dip, as these coins have fallen sharply this month. Floki has plummeted by over 70% from its highest level in 2024 and is nearing its lowest point since March 2024. A potential catalyst for Floki is the upcoming Valhalla mainnet launch, expected in February or March, which aims to enhance the ecosystem's utility.

AAVE, the leading decentralized finance (DeFi) player, has declined by over 33% from its peak in 2023. This week, the network successfully processed over $200 million in crypto liquidations without incurring additional bad debt, demonstrating its resilience amidst market volatility.

Jasmy's whale activity has also increased as the coin, often referred to as "Japan's Bitcoin," has fallen by 58% from its December peak. Nansen data confirms this rising demand, as the number of Jasmy tokens held on exchanges has decreased by 3.75% over the past seven days to 16.19 billion. This decline suggests that investors are moving their tokens to self-custody, indicating no immediate plans to sell.

As the tariff threat abates and Bitcoin's bullish flag points to further gains, these altcoins may rebound later this month. Historically, most altcoins rally when Bitcoin is rising, which could provide a tailwind for these coins.