There has been renewed optimism in the cryptocurrency market after the release of September US consumer price index (CPI) inflation data, which came in below expectations at 3.0%.
This data has increased expectations for a rate cut by the Federal Reserve, which has prompted whales to buy three specific altcoins.
Pepe (PEPE)
On-chain data shows that whales have added around 0.38 trillion tokens to their holdings in the past 24 hours, indicating early positioning for a potential rally.
Technically, the 4-hour chart shows that Pepe is consolidating inside a compressed triangle pattern and a break of $0.0000072 could trigger a 12% rally to the $0.0000079 range. However, if the $0.0000069 support is lost, there is a possibility of a drop to $0.0000064.
Pancake Swap (CAKE)
Meanwhile, PancakeSwap has also seen a significant increase in whale buying, with over 10 million new tokens added to major wallets. This increase coincides with a bullish divergence in the Relative Strength Index (RSI), which reinforces the possibility of a continuation of the uptrend. The main resistance is located at $2.72, and a break of it could open the way for a move to $3.45. On the other hand, if the price breaks below $2.27, a sharp decline to the $1.54 support is likely.
World Liberty Financial (WLFI)
Finally, World Liberty Financial’s cryptocurrency has also seen an 18.78% increase in whale buying volume in the past 24 hours. This increase in buying, along with speculation about a possible meeting between Trump and Xi Jinping, has put the token back in the spotlight. If the resistance at $0.14 is broken, there is a possibility of growth to $0.15. However, if the support at $0.13 is lost, there is a possibility of a decline to $0.11.
