With tepid trading activity dominating the market this week, the total global crypto market capitalization has taken a hit. At press time, the market cap stands at $3.28 trillion, reflecting a 5% decline over the past week as investor sentiment remains cautious and major assets consolidate.

Despite the overall slowdown, crypto whales have made moves into specific altcoins, including PancakeSwap (CAKE), Dogecoin (DOGE), and Optimism (OP).

PancakeSwap’s native token, CAKE, is one of the tokens crypto whales bought this week. According to Santiment’s data, whale addresses holding between 10 million and 100 million CAKE tokens acquired 710,000 tokens during the week under review.

This uptick in whale activity can be directly linked to a major potential listing announcement from Coinbase. On June 4, the cryptocurrency exchange confirmed CAKE’s inclusion in its asset roadmap. The prospect of enhanced liquidity and broader retail access drove whales to accumulate CAKE in anticipation of a price rally. 

At press time, the token trades at $2.28. If the whale accumulation persists, CAKE could reach $2.41.

On the other hand, if selloffs strengthen, the token’s value could slip to $2.21.

Leading meme coin DOGE is another altcoin that crypto whales bought this week. This is reflected by the 112% uptick in its large holders’ netflow over the past seven days. 

An asset’s large holders are whale addresses that hold more than 0.1% of its circulating supply. Their netflows track the difference between the amount of tokens they buy and sell over a specified period. When it surges like this, it signals strong accumulation by whales, suggesting growing confidence and a bullish outlook on the asset.

DOGE could rebound and climb toward $0.20 if whale accumulation persists.

On the other hand, if demand leans, the meme coin could slip toward $0.148.

This week, Layer-2 altcoin OP attracted significant attention from deep-pocketed investors. On-chain data shows that crypto whales holding between 1 million and 10 million tokens added 17 million CAKE tokens during that period.

This group of OP investors holds 965 million tokens at press time, their highest balance in the past week. If OP whales increase their accumulation, its price could rally to $0.69.

On the other hand, if selloffs continue, it could fall to $0.54.

The post Crypto Whales Bought These Altcoins in the First Week of June 2025 appeared first on BeInCrypto.

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