What are crypto whales & why are they important?

Could you elaborate on the concept of crypto whales and explain why they are significant in the cryptocurrency landscape? These seemingly elusive entities are often referenced in discussions about market movements, yet their true nature and influence remain somewhat enigmatic. Understanding their role and strategies can potentially provide valuable insights into the dynamics of the crypto markets. Are they individuals or entities with immense financial resources? Do they employ specific trading techniques? And how do their actions shape the broader market trends? Clarifying these points would greatly assist in appreciating the significance of crypto whales.