Whales Shift Holdings Across Major Altcoins Amid October Market Volatility

Recent on-chain data reveals contrasting behaviors among crypto whales in October, with some accumulating and others selling substantial altcoin holdings. Two whales have significantly increased their Chainlink (LINK) stakes, withdrawing over 1.4 million LINK recently, signaling renewed institutional interest driven by Chainlink's DeFi and real-world asset integrations. Conversely, whales are selling major altcoins Shiba Inu and Cardano (ADA), reducing large holdings amid price declines and bearish chart patterns, indicative of fading confidence and profit-taking. Despite the broader meme coin sector's struggles, certain meme coins like Dogecoin are seeing renewed whale accumulation, suggesting early positioning for potential price recovery. Dogecoin's technical setup, characterized by a narrowing falling wedge, supports a possible upside breakout, although risks remain if prices fall below key support levels. These divergent whale activities highlight a mixed outlook in the altcoin market, with selective optimism amid overall volatility.