The crypto market is showing signs of unease as we approach the end of October. According to recent data, the total market cap of altcoins (excluding Bitcoin) has fallen from around $1.62 trillion to $1.45 trillion since mid-October. This drop isn’t just about price — large holders (so-called “whales”) are actively reducing their positions, signalling potential trouble beneath the surface.
Here are three altcoins drawing particular attention due to whale behaviour and technical-signals:
1. Shiba Inu (SHIB)
Whales have been steadily selling SHIB since October 18. Large wallets holding SHIB reportedly reduced holdings from 697.88 trillion to 694.26 trillion tokens (≈ 3.62 trillion SHIB, about $355 k at the current price).
From a chart perspective, SHIB appears to be trapped in a symmetrical triangle since October 10 — a classic pattern of indecision. During October 14–20, price formed lower highs while the RSI (Relative Strength Index) made higher highs — a hidden bearish divergence.
Given this structure, the risk of further downside is real: a daily close under $0.0000097 might push SHIB toward $0.0000092, while only a break above $0.000010 could open a potential move toward $0.000011. Currently, whales seem unconvinced a recovery is imminent.
2. Cardano (ADA)
Large ADA holders (100 million–1 billion ADA wallets) began cutting positions around October 17. Their holdings dropped from 4.07 billion ADA to about 4.04 billion — roughly a 30 million ADA reduction (~$19 million at ~$0.63).
The timing is critical: ADA briefly broke under a bullish channel’s lower trend line, which likely triggered some panic. Between October 13–20, price made lower highs while RSI produced higher highs — another hidden bearish divergence suggesting continuation of the downtrend rather than reversal. ADA has already lost ~21% over the past three months.
If ADA fails to hold $0.61, it could drop toward $0.59 or even $0.50. On the flip side, a break above $0.86 (a major resistance) would be needed to refute the bearish view — a jump of ~36% from current levels, which appears unlikely in the near term.
3. Zora (ZORA)
ZORA offers a slightly different case: here, whales appear to be taking profits rather than unloading out of fear. After a 61% rally in the past 30 days, ZORA has dropped ~15.6% over the last week as large-holders trimmed positions by about 390,000 tokens, reducing holdings to 5.45 million (down from 6.71 million tokens).
Price action supports the narrative: after breaking an inverse head & shoulders pattern earlier in October, ZORA is now consolidating in a symmetrical triangle — a sign of hesitation in momentum. If $0.091 fails as a support, the token could correct to $0.083 or even $0.065.
On the other hand, a daily close above $0.10 followed by $0.11 would undermine the short-term bearish structure and could reignite whale interest. For now, though, the mood appears cautious.
Final Thoughts
The behaviour of whales often provides an early warning signal for broader market sentiment. In these three cases — SHIB, ADA, and ZORA — large-holder actions combined with technical divergences suggest that risk is elevated.
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For SHIB and ADA, the convergence of whale selling + hidden bearish divergences suggests potential for further downside unless strong catalysts emerge.
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For ZORA, while the scenario is more profit-taking than panic, the consolidation pattern means a break in either direction could be meaningful.
If you’re an investor or just tracking altcoin markets, this may be a time to exercise extra caution. As always, this is not investment advice — do your own research and consider your risk tolerance.
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