Smart Money Eyes These 3 Altcoins Amid Rate Cut Anticipation

The crypto market has experienced a slight downturn, with the global market cap decreasing from $4 trillion to $3.86 trillion recently. Despite this, some altcoins are seeing significant accumulation from wallets known for strategic positioning.

Altcoins Attracting Attention

Here are three altcoins that "smart money" is currently buying:

Shiba Inu (SHIB)

Despite a recent correction of over 6%, Shiba Inu (SHIB) is attracting renewed buying interest. On-chain data indicates a substantial accumulation trend.

• Smart money wallets increased their holdings by 9.29%, adding approximately 3.78 billion SHIB.
• The top 100 addresses accumulated an additional 152.7 billion SHIB.
• Exchange balances decreased by 1.1 trillion SHIB.

In total, nearly 1.2 trillion SHIB (approximately $15.7 million) has moved into stronger hands. From a technical analysis perspective, SHIB's 4-hour chart suggests a potential bullish reversal, with immediate resistance at $0.00001244.

Uniswap (UNI)

Uniswap (UNI) has seen a relatively muted August, but smart money is building positions, reflecting confidence in decentralized exchange (DEX) tokens. The rise of stablecoin liquidity and decentralized trading activity underlines UNI's importance in the DeFi landscape.

• Over the past 30 days, smart money holdings of UNI rose by 6.51%, reaching 41.67 million UNI.
• Whales have added 8.74 million UNI to their holdings.
• Exchange reserves have decreased by 0.89%, or 5.8 million UNI.

This accumulation represents over $167 million in buying strength across smart money, whales, and exchange outflows. Technically, UNI is trading around $9.77, supported by a long-term ascending trendline. Immediate resistance is at $9.90.

Lido DAO (LDO)

Lido DAO (LDO) is another DeFi asset experiencing accumulation from smart money. Despite a correction of over 17% in late August, smart money increased its holdings.

• Smart money added 2.36% to its stash, now holding 26.48 million LDO tokens.
• The top 100 addresses increased their holdings by 0.13% (approximately 1.08 million tokens).
• Exchange balances decreased by 2.2 million tokens.

This translates to over $4.7 million in net buying pressure. The 4-hour chart indicates that LDO has broken out of a descending triangle, potentially invalidating the previous bearish trend. A break above $1.26 could lead to a short-term rebound.