As Halloween approaches, a sense of fear has overtaken excitement in the crypto market. Prices have dropped once more, with the market down 3.7% at this moment. However, significant players seem undeterred. Data indicates that whales are acquiring tokens before Halloween, subtly increasing their holdings in three key altcoins.
Two of these tokens are being purchased during price dips, while one is bought on strength — demonstrating notable conviction amidst escalating market anxiety.
Aave (AAVE)
Among the coins that whales are collecting prior to Halloween, Aave — a DeFi lending token — has garnered consistent interest.
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The Halloween acquisition began on October 27, when AAVE whales holding between 1 million and 10 million tokens increased their holdings from 4.86 million to 4.94 million, adding about 80,000 AAVE worth approximately $17 million at current valuations.
This accumulation continued as AAVE’s price dropped 6.3% in the past 24 hours, extending its overall three-month downtrend of 17.7%.
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Between October 13 and 26, AAVE’s price formed a lower high while the Relative Strength Index (RSI) created a higher high, establishing a hidden bearish divergence that suggests the continuation of the broader downtrend. This setup instigated the latest correction, during which whales began purchasing above the support levels.
Notably, AAVE has demonstrated consistent post-Halloween momentum annually since 2020, averaging an 11.8% rebound in the week following Halloween.
Hence, whales purchasing before Halloween is no surprise — they may be positioning for another seasonal upswing toward $230 and $248, or even higher if $248 sustains a clean break. The RSI is now aligning with the price movement.
This alignment could contribute to some stability in AAVE price action if the nearest support of $210 holds.
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Conversely, if $210 fails to hold, whales might seek support near $199, but losing that threshold would negate the rebound hypothesis and indicate that accumulation could extend longer before a recovery materializes.
Maple Finance (SYRUP)
Maple Finance (SYRUP) stands out as one of the few altcoins in positive territory that whales are buying before Halloween. While much of the market has turned bearish this week, SYRUP continues to mitigate losses.
At this moment, the token trades around $0.41, up approximately 1% in the last 24 hours and nearly 10% over the past month. This steady upward movement indicates quiet confidence among large holders.
Data reveals that whales holding between 1 million and 10 million SYRUP tokens have increased their holdings from 246.95 million to 254.62 million since October 28, adding roughly 7.67 million tokens worth approximately $3.14 million at current prices.
The Smart Money Index (SMI) — which gauges the positioning of experienced bounce-seeking traders — also corroborates this optimistic outlook. It has been achieving higher highs since October 23, indicating that savvy investors are preparing early for a potential upward move.
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As long as the SMI remains above 1.29, the bias stays bullish.
In terms of price action, SYRUP faces significant resistance at $0.43, which has historically repelled breakouts. Clear this barrier, and the token could surge toward $0.46. Maintaining position above $0.46 would bolster the case for a broader uptrend.
Nevertheless, a drop below $0.39 may trigger a more considerable pullback. If $0.38 cannot hold, the next key support hovers around $0.33.
Falling below that level would invalidate the bullish accumulation scenario and suggest that whales may continue their buying spree before another rebound occurs.
Dogecoin (DOGE)
Dogecoin (DOGE) has again attracted the interest of substantial investors as Halloween approaches. Despite being one of the most erratic performers in previous years, whales are betting on a potential DOGE rebound in November.
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Currently, Dogecoin trades around $0.18, down 21% over the past month as part of its ongoing decline. Nonetheless, large whales holding between 100 million and 1 billion DOGE have been discreetly increasing their holdings.
Since October 28, their possessions have risen from 27.68 billion DOGE to 29.1 billion DOGE, representing an increase of 1.42 billion DOGE valued at approximately $255.6 million at current prices.
This surge in accumulation indicates that whales are confident in Dogecoin’s near-term recovery potential, despite broader market weaknesses.
On the 12-hour chart, Dogecoin’s price has formed a higher low between October 17 and October 30, while the Relative Strength Index (RSI) has established a lower low. This phenomenon is known as hidden bullish divergence and signals a possible short-term rebound.
Currently, Dogecoin trades within a narrow range between $0.17 and $0.20, which has persisted since October 11. If $0.17 holds, the RSI setup supports a prospective rebound toward $0.20, suggesting a 14.6% upside. A decisive breakout above $0.20 could then set the stage for $0.27.
However, should $0.17 falter, the next significant support lies around $0.14. A breakdown below that would negate the bullish outlook and may extend the current consolidation or push prices lower before another rebound opportunity.
In summary, Dogecoin (DOGE) remains one of the few large-cap cryptocurrencies that whales are acquiring before Halloween. Their conviction is supported by evident accumulation and a bullish RSI divergence, suggesting that the range-bound phase may soon conclude.
