It’s no secret that crypto whales play a crucial role in determining the fate of various tokens in the crypto market. Last week, various tokens experienced a rally, led by Dogecoin, which saw impressive growth.

Numerous crypto proponents believe that the Dogecoin surge is just what the altcoin market needs to reestablish its position. The latest surge comes after Elon Musk’s $44 billion acquisition of Twitter.

Musk, who is often termed the Dogefather, is a renowned Dogecoin fan and has played a massive role in manipulating its price through his tweets.

Altcoins See Growth after Musk’s Twitter Acquisition

Now that various altcoins are seeing growth, plenty of crypto investors are showing a preference for some altcoins over the rest. Although Dogecoin prices slumped a little through the weekend, its price is still an essential factor in the current market circumstances.

Based on a week-by-week analysis, the satirical memecoin is showing growth by around 104 percent.

While Elon Musk’s Twitter takeover had a direct effect on Dogecoin prices, his pro-crypto stance means that it had a positive effect on the crypto market as well.

Musk Could Introduce DOGE Payments on Twitter

Currently, crypto proponents are speculating that Musk will allow Dogecoin-based payments on Twitter. If not, there will be some other means of implementing DOGE on the major social media platform.

As of now, Dogecoin is trading at $0.1214, which indicates a 1.53 percent decrease over the past day, based on CoinMarketCap statistics.

Crypto Whales Accumulate 3 Altcoins after Latest Surge

At the same time, crypto whales are hoarding a couple of altcoins after the latest round of price surges. Ran Neuner, a crypto influencer, explains that a couple of altcoins are experiencing a rise in buying activity.

He stated that crypto whales are aggressively scooping up 3 major altcoins. He explains that Chainlink is currently undervalued and has been in the accumulation stage for quite a while.

Now, however, the tokenomics have shifted. The crypto influencer signaled that it’s currently a good period to start accumulating LINK. Currently, the token is trading at $7.98, which is up by 5.35 percent over the past day based on data by CoinMarketCap.

On the platform, Chainlink stands in the 21st place in terms of overall market capitalization. Similarly, he suggested that Dogecoin is showing great prospects since Musk’s Twitter acquisition.

He even explained that now is as good of a time as ever to start buying the Chiliz token, which is ranked in 42nd place on CoinMarketCap.

Now that the FIFA World Cup is about to kick off in a couple of weeks, CHZ is expected to show impressive growth as a popular fan token. Currently, it is trading at $0.2192, and is down by 0.82 percent over the past day.