Introduction: What Smart Money Reveals About Market Moves
The crypto market has recently witnessed a slight downturn, with the global market cap falling by 3.5% to $3.86 trillion. However, amidst the broader decline, smart money wallets—known for their strategic market positioning—are making intriguing moves. This article highlights three altcoins that are witnessing strong accumulation from smart money investors, signaling growing confidence in these assets.
1. Shiba Inu (SHIB): Massive Accumulation Despite Price Correction
Shiba Inu (SHIB) has seen a correction of over 6% in the last week, but it has spurred significant buying activity. On-chain data reveals that smart money wallets raised their SHIB holdings by 9.29%, adding approximately 3.78 billion SHIB. Additionally, the top 100 wallet addresses accumulated another 152.7 billion SHIB, while exchange wallets experienced a sharp decline of 1.1 trillion SHIB—amounting to $15.7 million in total accumulation.
The technical outlook for SHIB is also turning optimistic. The 4-hour chart indicates a bullish reversal after six bearish sessions, with the Bull Bear Power (BBP) indicator flipping positive. Key resistance levels to watch are $0.00001244 and $0.00001273, while downside risks emerge below $0.00001198.
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2. Uniswap (UNI): Confidence in DeFi Drives Accumulation
Despite slipping 3.5% in August, Uniswap (UNI) has garnered over $167 million in buying strength from smart money wallets, whales, and exchange outflows. Notably, wallet holdings of UNI increased by 6.51% to 41.67 million tokens—worth $24.9 million. Exchange outflows further reinforced accumulation as reserves dropped by 5.8 million UNI.
From a technical perspective, UNI is trading above a long-term ascending trendline, with immediate resistance at $9.90. If it breaks this level, it could rise toward $10.20 or even $11.63, signaling bullish momentum. Traders should, however, remain cautious of support at $8.67, below which bearish sentiment could take over.
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3. Lido DAO (LDO): Betting on a DeFi Rebound
Lido DAO (LDO) has also caught the eye of smart money, showing $4.7 million in net accumulation. This includes significant contributions from wallets adding 26.48 million tokens, while exchange balances dropped by 2.2 million tokens—equivalent to $2.7 million. This accumulation comes amid a technical breakout from a descending triangle pattern, invalidating a bearish setup.
Key resistance levels to watch for LDO are $1.26 and $1.29, which could signal upside potential. However, if prices drop below $1.18, this could nullify market optimism and pave the way for bearish movement.
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Conclusion: Market Signals Point Toward Strategic Buying
Despite current market challenges, smart money investors are strategically accumulating altcoins like Shiba Inu, Uniswap, and Lido DAO. This trend highlights the importance of closely monitoring on-chain data and technical trends to identify opportunities before broader market changes occur. As always, conduct thorough research before making investment decisions.
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