3 Altcoins Whales Are Selling Fast as October Ends!

🚨 Altcoin Alert: Whales Offload Billions in SHIB, ADA, and ZORA as October Ends

As the altcoin market cap has dropped by over 11% since mid-October, large holders (whales) have been accelerating their selling across several major projects. This sell-off is driven by factors including delayed breakouts, weak trendline breaks, and general profit-taking, leading to a significant reduction in whale exposure in three specific tokens: Shiba Inu (SHIB), Cardano (ADA), and Zora (ZORA). Here is a summary of the whale activity and the resulting market impact for each altcoin.

1. Shiba Inu (SHIB)

Whales appear to be losing interest in Shiba Inu, steadily offloading their holdings since October 18. They dumped approximately 3.62 trillion SHIB, valued at roughly $355,000. This selling aligns with prolonged indecision, with the price stuck in a symmetrical triangle pattern and displaying a hidden bearish divergence (signaling a likely downtrend continuation). A break below $0.0000097 could send the price further down to $0.0000092.

2. Cardano (ADA)

Crypto whales offloaded about 30 million ADA, worth nearly $19 million. The selling was triggered by a brief, structurally weak break below the lower trendline of an ascending channel on October 17, which reduced confidence among large holders. The price is showing a hidden bearish divergence, pointing toward continued downtrend. If the critical support at $0.61 fails to hold, ADA could slide toward $0.59 or even $0.50. To invalidate the bearish outlook, ADA must clear the strong resistance at $0.86.

3. Zora (ZORA)

ZORA whales are primarily engaged in profit-taking after the token’s strong rally (up 61% in 30 days), reducing their collective stash by about 390,000 ZORA, which represents a 6.71% drop in the total whale supply. This has caused a short-term price cooldown, with ZORA slipping 15.6% in the last week. The price is consolidating in a symmetrical triangle. If $0.091 fails to hold, a correction toward $0.083 or $0.065 could follow, though the overall trend may still be one of consolidation rather than a full reversal.

Conclusion

The data indicates that whales are reducing their risk exposure across multiple altcoins as October closes, driven by a lack of strong bullish momentum and specific technical weaknesses. For SHIB and ADA, the selling reinforces existing downtrends and threatens to break critical support levels. For ZORA, the selling is viewed primarily as profit-taking after a successful month-long rally, but it is causing a short-term price cooldown. The continuation of this synchronized dumping could lead to further significant price corrections across these tokens.

Disclaimer

This article is for informational purposes only and is based on third-party on-chain and technical analysis. The views expressed do not constitute financial or investment advice. The cryptocurrency market is highly volatile, and all investment decisions should be preceded by thorough personal research (DYOR) and consultation with a qualified financial advisor.