Smart money investors have sold some popular cryptocurrencies during the ongoing crypto bear market. At the same time, on-chain data shows that these smart money pros are buying the dip in some cryptocurrencies. This article looks at some of the top altcoins to buy as smart money sells tokens like Solayer, AAVE, and Pi Network.
Smart Money is Selling Solayer, AAVE, and Pi Network
Third-party data shows that smart money investors have sold some tokens in the last 24 hours. These investors sold Solayer tokens worth over $7.3 million, Pi tokens worth $2.05 million, and AAVE coins worth $1.2 million.
They are selling Solayer because of profit-taking after soaring by almost 90% from its lowest point last week. AAVE and Pi Network selling is likely happening as these smart money investors anticipate more downtrend in the near term.
Top 3 Altcoins to Buy as Smart Money Investors Buy the Dip
Some of the top altcoins to buy as smart money investors accumulate are Virtuals Protocol (VIRTUAL), Arbitrum (ARB), and Pepe (PEPE).
Virtuals Protocol (VIRTUAL)
Smart money investors are buying the dip in the VIRTUAL price after it crashed by over 85% from its highest level this year. They accumulated tokens worth almost $950k in the last 24 hours.
The most likely reason for the purchase is that these smart money investors anticipate that it will do well during NVIDIA’s GTC event in California. Jensen Huang, the CEO, will be the keynote speaker and will likely unveil new AI solutions.
Therefore, these investors likely expect that the VIRTUAL price will bounce back because NVIDIA is the biggest player in AI. For one, it may do well if it is mentioned in the keynote since it is the biggest AI generator in crypto. VIRTUAL’s MACD has also formed a bullish divergence pattern on the daily chart.
Arbitrum (ARB)
Arbitrum is one of the top altcoins to buy as smart money investors accumulate. They bought ARB tokens worth $571k in the last 24 hours. One reason for their accumulation is that, like VIRTUAL, it has formed a bullish divergence pattern. The two lines of the MACD indicator have continued rising as the token falls. Similarly, the Relative Strength Index (RSI) has risen from the oversold level of 25 to 43. A bullish divergence is a popular bullish sign.
Pepe Coin (PEPE)
Smart money investors are buying Pepe, whose price has crashed by double digits from its highest level this year. Pepe coin has formed a bullish divergence pattern on the daily chart. It also formed a double-bottom pattern whose neckline is at its all-time high of $0.00002840. It also formed a falling wedge pattern, pointing to an eventual rebound.
Summary on the Top Altcoins to Buy
Bitcoin and most crypto prices remain in a deep bear market after crashing by over 20% from their local highs. This crash presents a good opportunity to buy quality tokens on the cheap. One way of doing this is to look at the actions of smart money investors. These sophisticated pros are now buying altcoins like Arbitrum, Pepe, and VIRTUAL.
The post 3 Altcoins to Buy as Smart Money Sell Solayer, AAVE and Pi Network Tokens appeared first on CoinGape.
