3 Privacy Coins Crypto Whales Are Buying and Selling Ahead of February 2026

Privacy coins have been under pressure in early 2026, with Zcash, Dusk, and COTI showing mixed whale behavior as February approaches. Investors are closely monitoring whale activity for signals of market sentiment shifts. Zcash (ZEC) has seen a notable increase in whale accumulation over the past week, with top 100 addresses adding 14.6% to their holdings. This suggests a potential reversal in the bearish trend. Dusk (DUSK), on the other hand, has seen smaller whale wallets reduce exposure by 7.22%, while large players added 56.6 million tokens during the recent pullback. This divergence highlights uncertainty in the market. COTI has remained in a descending channel, but whale buying has started to pick up again since January 22, signaling early signs of a potential trend shift.

Zcash's price has rebounded nearly 15% from a recent low near $336, pushing it toward the 100-day EMA. This level historically acted as a key support during past rebounds. Whale accumulation suggests buyers are stepping in after a breakdown, potentially setting up a larger rally. The Zcash price is currently just 9% away from the level that triggered a 70% rally in December 2025. A breakout above $386 could confirm a reversal in the bearish trend.

Dusk's price is forming a potential inverse head-and-shoulders pattern, but the neckline is sloping downward, making a clean breakout difficult. The critical resistance zone is between $0.176 and $0.190. A daily close above $0.190 would confirm the pattern and open the path toward $0.321–$0.330. Momentum indicators suggest hidden bullish divergence, as the price is forming a higher low while RSI prints a lower low. This setup remains valid as long as the price stays above $0.140.

COTI has remained inside a descending channel, with whales previously reducing their holdings during the breakdown phase. However, buying has picked up again, with holdings increasing by 930,000 COTI since January 22. This suggests early positioning rather than full conviction in a reversal. Momentum has shifted slightly, with the price forming a lower low and RSI printing a higher low. This bullish divergence indicates selling pressure may be easing.

Why Did This Happen?

Zcash whales have been increasing their holdings as the price rebounds from a bear flag breakdown. This pattern suggests a potential reversal in the short-term trend. The move could indicate that larger holders believe the worst of the sell-off is over.

Dusk's whale behavior is split, with smaller holders trimming exposure during the pullback while mega whales are adding to their positions. This divergence could signal a potential breakout if the price manages to reclaim the $0.190 level. The inverse head-and-shoulders pattern is still incomplete, so a breakout remains uncertain.

COTI's whale activity has shifted from heavy selling to modest buying, suggesting that larger holders are beginning to test the bottom. The price remains in a descending channel, but the recent buying may indicate a potential trend reversal is in progress.

What Are Analysts Watching Next?

Zcash's next key level is $449. A clean break above it would invalidate the bear flag and open the path toward $561. On the downside, a move below $325 would restore breakdown risk and invalidate the bullish whale thesis.

Dusk's breakout remains uncertain, but a daily close above $0.190 would confirm the pattern and open the path toward $0.321–$0.330. A breakdown below $0.140 would erase the bullish divergence and expose downside toward $0.098.

COTI's next critical level is $0.019. A daily close above this would open the path toward $0.024, a potential 40% rebound. A breakdown below $0.015 would extend the divergence timeline and expose deeper levels.

Zcash's rebound has already attracted significant whale attention, with top 100 addresses adding 14.6% to their holdings. This suggests buyers are stepping in after a breakdown and could lead to a larger rally if the price manages to reclaim the 100-day EMA.